Abercrombie & Fitch tells investors it discounted prices too much.

Accenture calls on clients to help make a statement.

American Airlines and union plan to return to talks.

Apple's iPhone passes BlackBerry as business favorite.

BP faces charges over Alaska spill.

Chrysler plans to invest heavily in building Jeeps in Toledo, Ohio.

Corona brings back long-time holiday spot.

Delphi prices IPO at $22 a share.

DirecTV unveils dramatic man-vs.-wolf action in new spot.

GE bets on software development.Continue reading...

AT&T bid for T-Mobile comes under scrutiny in California.

Abbott Laboratories gets federal pushback on cholesterol-drug trials.

Amazon takes a do-over on flubbed Lady Gaga promotion.

Baidu plots overseas growth.

Delphi IPO signals automotive rebound.

Facebook beefs up lobbying team in Washington.Continue reading...

After reporting first-quarter profits triple those of a year earlier, it was difficult for General Motors CEO Dan Akerson this morning to resist the temptation to crow a bit. “I won’t say the fruit is hanging low, but it’s within a fair reach for us,” he said during a conference call for analysts.

GM’s results were quite a bunch of coconuts: $3.2 billion in net profits, comprising its fifth consecutive profitable quarter, which reflected proceeds of $1.9 billion from  the sale of GM’s ownership in Delphi, the parts maker, and the Ally Financial Credit Company.

But even on an apples-to-apples basis, GM was humming: Operating profits of $2 billion exceeded analysts’ already-high expectations.

That’s largely because GM’s sales in the United States are burgeoning – up more than 26% in April – on the strength of the growing appeal of its most fuel-efficient models, including the new Chevrolet Cruze compact and the Chevrolet Equinox crossover-utility vehicle.Continue reading...

AT&T pins 4G label on existing network.

Blue Shield of California readies 59% rate increase, cites Obamacare.

BP oil spill caused by "bad management," according to White House commission.

Cadillac eyes new models.

Delphi case in CEO charges goes to jury.

Facebook sees high demand for its shares via Goldman Sachs.Continue reading...