Apple edges past Exxon to become the biggest public company in the world (while AOL has a bad day); and stops Samsung's Galaxy Tab in Europe with legal ruling.

Barney's NY hires former French Vogue editor Carine Roitfeld as model and consultant.

Disney profits from sales of Cars 2 and Marvel merchandise, and ESPN revenues.

Facebook rolls out mobile Messenger feature.

Ford manages expectations of eager Focus electric car buyers.

Hero MotorCorp unveils brand identity.

J&J reaches agreement with U.S. on Risperdal charge.Continue reading...

Adobe creative suite spurs rebound.

Apple's iPhone 4 discounted in Wal-Mart holiday special, following Radio Shack deal.

AT&T spends nearly $2 billion to acquire wireless spectrum from Qualcomm.

Boeing to build 3-satellite system for government of Mexico.

Cadillac taps Laurence Fishburne as its new voice.

Coca-Cola awards $4 million to support active lifestyles, education and environmental programs in North America.

Continental Airlines and Spanair to start codeshare flights.Continue reading...

Best Buy announces nationwide rollout catered to health and fitness products.

Bing hits all-time market share high in November.

Club Med announces the grand opening of the only all-inclusive family resort in the U.S., Sandpiper Bay.

ESPN app advances long-delayed interactive TV push.

Manhattan U.S. Attorney announces agreement to recover $7.2 billion for victims of Bernard L. Madoff's ponzi scheme from estate of Jeffry M. Picower.Continue reading...

Apparently, “basic” is the new black. The Spring/Summer 2011 Mercedes-Benz New York Fashion Week, which ended yesterday, demonstrated that designers are still courting recession-wary customers by offering signature pieces that translate beyond a single season.

Among fashion's old guard brands, Ralph Lauren returned to his Western roots, Francisco Costa for Calvin Klein presented sleek, simply-cut dresses, and Oscar de la Renta stuck to his fail-safe Upper East Side cocktail dresses—to a fault, some believed.

But amidst this return to familiar territory, several up-and-coming designers made their presence known in the tents. Over the last few years, Asian-American designers have been gaining in sartorial influence, with Michelle Obama favorite Jason Wu, Parsons grad Alexander Wang and Richard Chai, who together swept the 2010 CFDA Awards. This year, the up-and-comer to watch was Prabal Gurung, a CFDA-nominee who hails from Singapore, by way of Kathmandu. Click through to check out his collection, and more fresh faces on the catwalk this past week.Continue reading...