In the News: Facebook, Blockbuster, Chanel

Facebook is growing fastest in Asia, reportedly developing smartphones for AT&T, while CEO Mark Zuckerberg is donating $100 million to improve schools in Newark, NJ, which he will announce on Oprah Winfrey's show tomorrow.

Blockbuster filed for bankruptcy this morning, says its 3,000 US stores will remain open.

Chanel cracks down on how its name is used.

Wal-Mart tries to unmask corporate foes that have slowed its growth in groceries.

Abbott recalls some Similac formula over potentially tainted packaging. 

Adidas targets growth in Russia.

Apple's iPhone 4 finally goes on sale in China on Saturday.Continue reading...