Following a week of speculation, News International CEO Rebekah Brooks stepped down today (joined later in the day by Dow Jones CEO Les Hinton) as the beleaguered Murdoch family battles to defend its media interests.

News Corp. didn't include her resignation statement in the press release announcing that Sky Italia CEO Tom Mockridge would move over within News Corp. to take over her role, although the Guardian posted her memo to employees.

“As chief executive of the company, I feel a deep sense of responsibility for the people we have hurt and I want to reiterate how sorry I am for what we now know to have taken place," Brooks told staffers.Continue reading...

News Corp. executive accepts Rebekah Brooks resignation from News International as Rupert Murdoch is defiant as U.S. congressman calls for probe into his company over possible hacking of 9/11 victims.

Amazon tablet is coming in October.

Borders’ fate hangs in the balance as liquidation looms.

BP oil found to still be washing ashore in the Gulf of Mexico, reports Bloomberg.

Campbell addresses criticism for adding salt to 'healthy' soup line.

Clorox draws bid from Carl Icahn.Continue reading...

Just when it seems that things couldn't get any worse for Rupert Murdoch...

News Corp. is now being investigated by the FBI for allegedly attempting to hack into the phones of 9/11 victims, as the front page of the Wall Street Journal writes this evening. The New York Times also reports that the company has retained a "top criminal defense lawyer," Washington-based attorney Brendan Sullivan, as it faces recriminations in the US.

The media titan and his son James, who oversees News Corp.'s European operations, also reluctantly (after initially refusing, and then being threated with jail) agreed to appear before a British parliamentary panel next week to answer questions about the phone-hacking scandal.

In his first major interview since closing the News of the World — with, naturally, his flagship US publication, the Wall Street Journal — Murdoch defends his son, admits that "minor mistakes" were made, denies that asset sales are under consideration, and rejects claims made by former British Prime Minister Gordon Brown.Continue reading...

The reaction to the latest twists and turns in News Corp.'s phone hacking scandal — which yesterday compelled Rupert Murdoch to withdraw his BSkyB bid, and today led him (and son James) to decline to testify? (Update: they've agreed to testify.)

Naturally, it runs the gamut from mocking (such as the eBay UK listing above), the cultural (musician Billy Bragg expressed his feelings about Murdoch's tabloids in song), to social media outrage (one prominent tweeter: former deputy Labour leader John Prescott). 

The story is also making waves in Murdoch's adopted homeland of America. Citizens for Responsibility and Ethics in Washington (CREW) is calling for a US inquiry, while Hugo Dixon, Editor of Reuters Breaking Views, told the BBC that "politicians in America are starting to beat the drum."

Update: this afternoon comes word that the FBI is investigating News Corp. following allegations that 9/11 victims were targeted.Continue reading...

When the British prime minister tells you your deal should die, Rupert Murdoch listens.

As News Corp.'s phone hacking scandal continues to dominate headlines around the world and unfold in the very public court of public opinion, the latest shoe to drop is Murdoch's BSkyB bid.

Following British PM David Cameron's call for the "disgraceful" News Corp. to drop its bid to acquire all of BSkyB, the company is doing just that. The move marks something of an about-face for Cameron, who has been criticized for not being tough enough on News Corp. before now.Continue reading...

Albertsons decides to keep self-checkout lanes.

Amazon seeks ballot measure to undo California tax.

Arm & Hammer woos cat-lovers.

BlackBerry owner RIM announces seven new smartphones, courts carriers feeling threatened by Apple and Google.

BMW cranks up its profit forecast.

Campbell takes new course as new CEO outlines strategy.

Carrefour sees its acquisition deal in Brazil fizzle.Continue reading...

So did News Corp. have a better day today? In a word, no. Some of the challenges rattling the media empire that Rupert Murdoch built:

• Scotland Yard has notified only 170 of 4,000 suspected victims, according to Sue Akers, deputy assistant commissioner of the London Metropolitan police in charge of the phone hacking scandal, at a hearing today. Akers told a group of MPs she’s taking a "very broad" approach to the inquiry in ‘Operation Weeting,’ which is examining 11,000 pages of material containing the names of the 4,000 possible victims. Murdoch has been called before a parliamentary committee to answer questions on the hacking scandal, according to a BBC report, along with his son James and Rebekah Brooks, the CEO of News International.

• News Corp.'s BSkyB bid is in trouble, with British politicians crossing party lines to support a motion which reads, "The house believes that it is in the public interest for Murdoch and News Corporation to withdraw their bid for BSkyB." Asked if the government expected News Corp to heed parliament, a spokesperson said: "Ultimately, that is a decision for News Corp but we would always expect people to take seriously what parliament has said." The House of Commons is scheduled to vote on it Wednesday, with Prime Minister David Cameron reportedly backing the motion.Continue reading...

Apple loses chief patent lawyer.

Arnold Schwarzenegger signs up for first post-scandal movie role.

BBC tests Facebook credits for Doctor Who rentals.

Cisco may eliminate up to 10,000 jobs, analyst says, while the company prepares to unveil upgraded switching.

Dr Pepper Snapple Group presses trademark case against part of its legacy.

Dunkin’ Donuts parent seeks to raise $461 million in IPO.

ESPN picks up Friday Night Lights.Continue reading...