You know things are bad when the BBC is covering itself under the banner, "Crisis at the BBC." The British Broadcasting Corp. has fallen from its venerable pedestal, with its latest embarrassment triggering the resignation of senior executives, who are taking the fall for the corporation's newsgathering operation failing to maintain the ethical and journalistic standards at the heart of its brand promise.

BBC director-general George Entwistle resigned on Saturday, after only 55 days in the role, holding himself responsible for "unacceptable journalistic standards" on the BBC's flagship current-affairs program, Newsnight, after it failed to verify an accusation it aired against Lord McAlpine, a former Conservative Party treasurer, of child sex abuse in Wales. The BBC's director of news, Helen Boaden, and her deputy, Stephen Mitchell, have also stepped down.

No wonder Chris Patten, chairman of the BBC Trust, is calling the network a "ghastly mess."Continue reading...

In a defensive and offensive move, two major European media companies, Bertelsmann and Pearson, are combining their book publishing divisions, Random House and Penguin, exponentially increasing their reach and scale in light of prodigious growth from e-books and digital retailers. 

"Together, the two publishers will be able to share a large part of their costs, to invest more for their author and reader constituencies and to be more adventurous in trying new models in this exciting, fast-moving world of digital books and digital readers," stated Pearson CEO Marjorie Scardino in a press release. 

The merger seals Random House’s leadership as the largest English-language consumer book publisher worldwide, and parent Bertelsmann will have the majority share at 53%. And no, web wags, it won't be called Penguin House or Random Penguin.Continue reading...

Google Nexus NYC tablet launch delayed by Hurricane Sandy, sells out online.

Pearson and Bertelsmann strike deal to combine Penguin and Random House publishing houses, thwarting News Corp.

Honda cuts full-year outlook over anti-Japan sentiment in China.

Audi repeats goal to match 2011 operating profit in 2012.

British Airways launches customer recognition program.

Burger King third-quarter net income falls, still beats estimates.

Burt's Bees "deflakes" with billboard and video campaign.

Cadillac raises prices in bid for luxury credibility.Continue reading...

US Eastern Seaboard braces for Hurricane Sandy, as NYSE (for first time since 9/11) and NASDAQ halt trading on Monday and thousands of flights are cancelled.

San Francisco Giants beat Detroit Tigers to win baseball's World Series.

GM tests magnesium to produce lighter cars.

NBC wins Premier League broadcast rights.

Toyota misfires with Chinese buyers.

Apple masters art of planned obsolescence, while Steve Jobs' yacht finally revealed.

EDF Energy in UK raising prices 10.8%.

IBM reports nanotube chip breakthrough.

McDonald's leans more on Dollar Menu.

News Corp. bids for Penguin books, owned by Pearson.

Univision to launch UVideos digital network spin-off.

Vodafone restructuring to result in "massive" job losses.

& British police arrest pop star Gary Glitter as more arrests are expected in Jimmy Savile scandal.

Early look at new Windows 8 design baffles some users, but not three-year-old Julian, above, as Best Buy starts taking pre-orders for Windows 8 phones and gets ready to launch Surface tablet — and manage expectations ahead of growing thirst for tablets, and Oct. 23rd reveal of Apple's iPad Mini.

Lance Armstrong urges cancer supporters and celeb pals to stand by LiveStrong, as the New York Times and other media detail alleged doping cover-up.

Abercrombie & Fitch CEO sued by former private airline pilot over dismissal and eyebrow-raising requirements.

Apple sued over deal locking iPhone to AT&T network.

AT&T, Verizon and T-Mobile will launch Isis mobile wallet on Monday.

Audi may help Mercedes-Benz overtake BMW in US.

Banana Boat recalls sunscreen due to flammability threat.

BBC roiled by "worst crisis in 50 years" and internal strife as its Jimmy Savile sex scandal handling goes public in broadcaster's own Panorama expose.Continue reading...

3M plans to acquire ceramics maker Ceradyne.

Amazon comes under fire for offering Nazi death-camp puzzle.

AutoNation makes big digital push.

BMW brings performance school online.

Simon Cowell proposes truce in competition between his X Factor on Fox and The Voice on NBC.

Fender tries to stay plugged in.

Ford hits the road to tout new C-Max nameplate.

GM recalls cars over fuel leak problem.Continue reading...

Samsung mocks iPhone 5 buyers in latest commercial.

Chick-fil-A backs down and vows to stop donating to anti-LGBT groups.

Visa shifts global creative duties back to BBDO.

AOL names female CFO.

AT&T faces backlash over Apple FaceTime restrictions, while CEO explains anti-texting and driving push.

Bed Bath & Beyond beats the odds.

Citibank credit card is coming to China.Continue reading...

Amazon teases new Kindle Fire devices during NFL kick-off while Kobo unveils new range of "e-readers for everyone."

Albertsons scales back retail operation with store closures.

Andy Roddick retires after U.S. Open loss, as Roger Federer is knocked out and loses world #1 title.

Ben & Jerry's sues over x-rated Ben & Cherry's.

Bentley moves US management team to VW HQ.

Bill Clinton helps seal Barack Obama nomination at DNC convention.

Billabong attracts $700 million bid from Bain Capital.

BP unveils new technology to boost oil production.Continue reading...