In the News: Facebook, Favre, Fockers and more

Apple won't exhibit at CES in Las Vegas this week, where competitors (including Vizio) will unveil tablets that will take aim at the iPad; and increases Q1 orders for the iPhone in advance of Verizon launch.

Arnold Schwarzenegger leaves office after seven years as governor of California.

Australia braces for damages claims as flooding projected "to last weeks."

Bank of America sees home loan charge, buys back bad loans and mounts defense against WikiLeaks.

Best Buy aims to become a major content creator online.

Buzz Aldrin sues over use of his image on moonwalk trading card.

Cadbury's former chairman knighted in UK, to consternation of opponents to company sale.

Coca-Cola wraps up largest social-media project ever.

Delta and American airlines pull fares from travel sites including Expedia.

Deutsche Bank leapfrogs JP Morgan as top earner in Europe.

Discovery Channel cancels Michael Jackson autopsy special.

Facebook raises $500 million from Goldman Sachs and a Russian investor in a deal that values the company at $50 billion, as Facebook passes Google as most-visited website in the US.

Fiat doesn't plan Chrysler merger.

Ford shifts former ad budget for defunct Mercury brand to its Lincoln luxury marque.

GM recalls affect over 100,000 vehicles, while Ford recalls F150 trucks.

Gold’s Gym and Fitness magazine team up to energize seasonal weight-loss resolutions.

Google digital newsstand aims to muscle in on Apple.

Hulu is in talks with Comedy Central to restore the Daily Show.

Hyundai, Kia boost sales targets.

Intel woos Hollywood with new microchip.

Kura sushi chain boosts profits with robots.

Lions Gate scraps with Carl Icahn over MGM merger talks.

Lunesta sleeping pill copycat suit settles.

Mentos continues making a splash on Facebook.

NFL star Brett Favre calls it quits after sitting out team's season-ending loss.

Nintendo says 3D games may hurt kids' eyes.

Olympics 2016 Rio logo creators defend against plagiarism claims; take a closer look here.

Qantas on brink of £200m biojetfuel joint venture.

Reliance is the new unified brand name for Reliance Anil Dhirubhai Ambani Group businesses.

Samsung reports 10M Galaxy S smartphones sold.

UK bank bonuses for execs to be linked to customer satisfaction.

Universal's Little Fockers hangs onto top spot at the U.S. box office.

Volkswagen CEO to stay until 2016 to complete merger with Porsche.

& actress Alyssa Milano orders his-and-hers Nissan Leaf and Chevy Volt.