It’s here, and it’s not just a phone. Facebook's highly anticipated event today confirmed swirling rumors that the social network would release a product closely tied to a mobile device, and that product is Facebook Home.

"We asked ourselves if sharing and connecting are what matter most, what would your phone be like if it put your friends first?" Facebook stated. "Our answer is Home. Home isn't a phone or operating system, and it's also more than just an app. Home is a completely new experience that lets you see the world through people, not apps."Continue reading...

Above, Beijing t-shirt maker Plastered releases its 草泥马老板 ("Grass Mud Horse" Boss) shirt. 

China is the second largest economy in the world and every significant brand's future is impacted by its growth (or collapse)—but who's got the time?! Here's the week's reads that will make you look like a keen China observer in case you find yourself immersed in a cultural conversation.

This week: Beckham's Adidias/Nike problem... McDonald's closes iconic location... bashing Apple... Steve Jobs manga... what your brand of car says about your sex life... Walmart... Nongfu... more infant formula scandals... Jackie Chan... Vera Wang... bye bye black Audis... and much more.Continue reading...

T-Mobile kills off wireless contract, readies to launch LTE network.

Gordon Brothers Europe agrees to buy struggling Blockbuster UK, saving 2,000 jobs and brand. 

W Hotels plans to double Asia presence over the next five years.

AstraZeneca settles Crestor patent suit.

Apple, Microsoft defend pricing policies in Australia.

Britain's BAE Systems wins five-year, $780 million US military contract.

BMW looks to Mini Paceman to challenge growing Fiat market.

Bridgestone launches new tire line to reignite Firestone brand.Continue reading...

Atari files for bankruptcy protection in the U.S.

RIM could license BlackBerry 10 software.

Sony plans to introduce tablet challenging Apple and Samsung.

AIG learns from "Thank You, America" misfire.

Alfa Romeo plans brand return to U.S. late this year.

Boeing sees safety investigators dismiss one potential cause of Dreamliner fires.Continue reading...

Adidas dumped by university over labor concerns.

American Airlines expects thousands of job cuts and faces rash of late, canceled flights..

Anschutz plans to sell its entertainment group, part-owner of Los Angeles Lakers, in AEG sale to include LA's Staples Center.

Barry Diller and Scott Rudin enter e-publishing of books.

Caesars to rebrand Imperial Palace as The Quad.

Campbell Soup Co. boosts digital marketing.

Canon slashes prices in India.

Coca-Cola heirs lose $37M in foreclosure crisis.Continue reading...

Apple's patent lawsuit ruling against Samsung is painful for the South Korean electronics brand. And while the judgment's inconsistencies virtually guarantee an appeal, access to the U.S. market for at least eight of Samsung's devices now seem to be on the chopping block. (Though many believe this will little hinder Samsung's overall future.) But that's just the U.S. market, which is not the world's biggest anymore.  

Yes, of course, China. China is the largest market for cell phones and will soon be the largest market for smartphones. And who currently rules China's smartphone market? Yes, of course - Samsung! 

So does Samsung have to worry about a similar fate in China? Continue reading...

ABC's Desperate Housewives renew contracts with eight-figure salaries. 

Amazon launches $25 cheaper ad-supported Kindle.

NFL players, owners ordered to start federal mediation.

Donald Trump goes on the warpath against New York media.

BP gives Florida $30 million for advertising.

Costco undercuts cheapest gas prices but stocks $1M diamond ring.

David Beckham says he will collaborate on a kids clothing line with pal Snoop Dogg.

Experian says 30% of searches came from Bing last month.Continue reading...

As Japan nuclear crisis continues, Tokyo Electric Power downgraded by Moody's.

BlackBerry owner RIM locks horns with wireless carriers over mobile-payment data.

Disney reminds TV advertisers that Mom is watching too.

General Mills is in talks to buy $1.1 billion stake in Yoplait for more than 50% of brand.

GM considers expanding into dealer-inventory financing.

Honda tries to patch supply chain back together in Japan, while GM shutters Louisiana pick-up truck plant due to parts shortage from Japan.Continue reading...