BP sells Gulf of Mexico oil fields for $5.5 billion to help pay for spill settlement while Petrobras seeks partner for development of its Gulf sites.

HP expands workforce reduction to 29,000 positions.

AIG will see U.S. slash its stake to become minority shareholder with $18 billion sell-off.

Apple cuts reliance on Samsung for iPhone chips as iPhone 5 mania and rumor mill heat up.

Audi threatens BMW's seven-year luxury auto crown.

Google charges retailers in growing competition with Amazon, as Google Fiber launch site takes off and Google Glasses hit the runway at New York Fashion Week.

NBC faces Paralympic TV deal scrutiny while the UK celebrates the end of the summer of the Olympics with London 2012 parade.Continue reading...

Film: Men in Black 3
Total Products/Brands Spotted: 22
Standout Placement: Ford Taurus
Most Memorable Placement (positive): Glamour magazine
Most Memorable Placement (negative): Ford Taurus
Overall Product Placement Integration Grade (1-10): 5
Comments: Continuing the trend we noted a year ago with X-Men: First Class, the third installment in the Men in Black franchise — the world's new #1 movie — sets a good position of its action (and its viral marketing) decades back, cashing in on the 1960s craze. This setting allows for period-appropriate product placement such as one for Hamilton watches and placement gags involving Glamour magazine, Rolaids, the New York Mets and Viagra.

But the real star of the show is Ford, which is once again launching its Taurus with a sci-fi film.Continue reading...

AMR CEO defends job cuts at American Airlines.

AOL doubles down with investment in Huffington Post streaming TV network.

Apple dealt legal setback against Motorola, expands patent fight with Samsung.

Amazon could burn through its cash.

AstraZeneca plans to cut another 7,300 jobs.

Banana Republic brings back Mad Men collection with AMC.

Chipotle holds the line on pricing.

Chrysler re-launches in U.K. with Super Bowl spot on Sky.

Coca-Cola ties effort encouraging teens to Black History Month.Continue reading...

Groupon prices IPO as executives see hope in parallels to Amazon.

DeBeers now controlled by Anglo American.

MF Global Holdings CEO Jon Corzine resigns amid firm's implosion.

AMD to cut 1,400 jobs.

Apple fights discounts tooth and nail.

Church's Chicken focuses on family in new ads.

Columbia Sportswear uses outerwear "anti-spokesperson."

FOX to push envelope (and advertisers' buttons) with Glee episode featuring sex between gay teens.Continue reading...

Conde Nast's Social Sidekick got off to an iffy start this week when Business Insider dismissed it as a "non-starter."

"It's a nice little feature - one that will increase engagement a bit and allow advertisers some flexibility - but is it really changing anything? Nope."

Kicking the tires on the digital sidecar to Conde Nast's vast array of content, Gucci is the exclusive launch advertiser for Social Sidekick through the end of October.Continue reading...

AEG Live sets to rival Ticketmaster.

American Express rewards small-business members for marketing.

Boeing taxis toward major deal with Delta.

Burger King faces post mortems on the death of the King.

Facebook seeks acquisitions to fend off Google.

Foster's moves to thwart SABMiller bid.Continue reading...

Airbus may develop longer-range plane to rival Boeing.

Apple tucks Newsstand into WWDC announcements.

AT&T's bid for T-Mobile is supported by Microsoft and Facebook.

Barack Obama's chief economist, Austan Goolsbee, resigns.

Bayer prostate-cancer drug shows promise.

BHP Billiton starts first US Gulf well since BP disaster.

BP tries to salvage Rosneft deal.Continue reading...

Conde Nast's Glamour and Gap have teamed up for Glamour Girls, an original web series exclusively available on the magazine's iPad app. As Gap notes on its blog, there are four ten-minute episodes, each featuring a different Glamour staffer running about the office and New York — dressed, of course, in Gap's spring collection.