* P&G, ahead of taking Olay global, names Carrie Underwood as the brand's first celebrity ambassador.

* Nissan is partnering with Dongfeng Motors on Qi Chen, a new Chinese car brand.

* Oracle's board rejects shareholder proposal calling for board-level accountability on sustainability.

* AOL taps former William Morris chairman Jim Wiatt as strategic advisor.

* Apple lost 20% of iPhone 4 sales due to "antennagate" (in Minneapolis), while the NYT's David Pogue reviews 2010 iPods, finds "modest improvements, a risky new design and one home run in the new iPod Touch."

* CNN makes it official: Piers Morgan will replace Larry King.Continue reading...

• Geico's vlogging, Facebooking, Twittering caveman is in a Debbie Downer mood today (above).

• The upcoming Love and Other Drugs is about a fast-talking, philandering medical salesman. What does he drive? A Porsche ... of course.

• Krispy Kreme doughnut's latest filling: Meat.

• 1984: Gillette offers $1 million to ZZ Top band members to shave iconic beards; band declines.

• 2010: Rise-N-Shine's Go Away Grey offers $1 million to CNN's silver fox Anderson Cooper to darken mane; fans balk.

• Verizon's "Rule the Air" spot aimed at young women irks feminists and net neutrality activists alike.Continue reading...

General Motors hires Chris Perry, Hyundai’s marketing chief, to head its needy Chevrolet division. The move shows GM CMO Joel Ewanick shoring up his team as he taps a key hire to market Chevy, the most important brand at his new company.

Starbucks' sales figures for Via coffee brand come under scrutiny.

Tiger Woods' sagging performance impacts PGA and golf sponsors as TV viewership slumps.

BP may be able to shield itself from suits under a proposal for the $20-billion Gulf of Mexico oil spill compensation fund.Continue reading...

BP is expected to announce today that embattled CEO Tony Hayward will be replaced by American Robert Dudley. Hayward will leave with a hefty financial package.

Apple's white iPhone 4 delay buys time to fix antenna issue.

Barclay's and other European banks respond to stress test results.

BlackBerry security questioned by UAE authorities.

Disney, Ford, Goldman Sachs & more after the jump.Continue reading...

Turner Broadcasting and NBC Universal are thisclose to signing Piers Morgan to CNN to succeed Larry King, reports the New York Times. His deal: a possible three-year contract valued up to $8 million, adds the New York Post.

Morgan, whose CNN negotiations surfaced last month, is best-known in the U.S. as the snarky British judge on America’s Got Talent, albeit a slightly gentler version of his countryman Simon Cowell. Word is that Morgan will sign if he can continue as a judge through 2013.

He's made it known his dream job is at CNN, which has reportedly spoken to a variety of on-air talent including Katie Couric to take over King's timeslot when he steps down later this year. Is Morgan a worthy successor to King — and a smart move for the CNN brand?Continue reading...

BP halts plan to seal new cap as more testing is required. 

CNN is thisclose to signing Piers Morgan to replace Larry King.

Comcast wins E.U. approval for NBC Universal deal.

Apple shares dip on iPhone 4 recall uncertainty.

American Airlines, British Airways and Iberia get E.U. approval for alliance.Continue reading...

CNN founder Ted Turner has been dedicated his post-Time Warner days to the environment, and to rebuilding America's bison population, with the largest private bison herd in the U.S. He also operates a chain of restaurants selling bison meat, Ted's Montana Grill. So the just-announced U.S. recall of 66,000 pounds of bison meat comes as a blow, particularly as it was reported on CNN. To make matters worse....Continue reading...

Brandchannel's top stories of the past week:

• McDonald's McNuggets Under Fire
• CNN Breaking News: Larry King Quits
• AT&T, Verizon, Sprint: It's On
• Toyota's IQ Font Wins Cannes Lion
• Ashton Kutcher, Popchip Culture Czar
• Eager to Start Your Own Agency?
• Is Nike's "Write the Future" Cursed?
• Old Spice Man is Back, with Questions
• Marketers Use England's World Cup Loss
• Twilight Eclipse Products Draw Blood