Facebook’s Sheryl Sandberg sells 353,000 Facebook stocks worth $7.4 million
Sheryl Sandberg, Chief Operating Officer of Facebook Inc(NASDAQ:FB) and two other executives have sold shares that worth millions of dollars since restrictions on insider trading ran out.

Sandberg networked approx $7.44 million by selling on Wednesday. Sandberg is still owns 20 million vested stocks including shares in trusts.

Theodore Ullyot and David Spillane two senior executives of Facebook, have reportedly sold shares worth millions of dollars this week. All the share sales by executives were a part of pre arranged stock trading plans.

Facebook has become the sole US company to go public with a market worth of more than $100 billion. However, recently the company’s worth has crumbled don by 40%.
Facebook Shares which were priced at $ 38 in the IPO closed with negative 3 cents at $21.18on Friday.

Roughly, 230 million stocks of Facebook became eligible for trading this week, since trading restrictions for employees ran out. The biggest stock for sales 800 million stocks will be available for trading on 14 November.

Mark Zuckerberg, chief executive of Facebook has committed not to sell stocks before 23 Sept. Ullyot has sold almost 149,000 stocks on Wednesday and Thursday, thereby collecting $3.13 millions. Ullyot holds an extra 1.27 million invested stocks.

Spillane sold more than half of his vested shares i-e 256,000 stocks on Wednesday. Spillane owned more than 863, 000 shares of Facebook Inc, which also included unvested shares,according to a filing in May.

Kickflip Inc (Gambit) claims can further lower Facebook Inc. (NASDAQ:FB) shares value

Kickflip Inc (Gambit) claims can further lower Facebook Inc. (NASDAQ:FB) shares value

Gambit sues Facebook
Kickflip Inc (Gambit) sued Facebook Inc. (NASDAQ:FB), over antitrust laws and blames Facebook of breaking the laws of virtual currency market. In 2009 / 2010 Facebook policies made Gambit “blacklisted” and developers were forced to switch to Facebook’s services.
Earlier Gambit was the foremost virtual currency and payment- processing source to software developers that published games on Facebook and other social networks.
Facebook Inc. (NASDAQ:FB) charged developers a 30 % fee for the service and intentionally provided few range of services, the Gambit lawyers claimed. 
Kickflip lawyers claimed that  Facebook’s decision in 2009 to offer its own services to developers destroyed the flexible market of virtual currency. Kickflip lawyers added, “Gambit’s business was affected due to Facebook leveraged dominance in the social-game marketplace to control market for virtual-currency services.
Virtual-currency helps social-game developers to issue currency to game players in trade for direct payment or participation in third-party advertising offers. As per lawyers claim there were at-least 20 virtual-currency service providers to social-game developers in mid 2009/10. 
Such claims will make another negative impact on Facebook shares as the Newyork stock exchange reopens on Wednesday. Facebook Inc (NASDAQ:FB) shares that closed on Friday at $21.94 due to Sandy Hurricane will most probably take another hit when they will be sold well below the $38 IPO value. The social media giant already saw a decline in shares to as low of $17.55 earlier in September.
Burger King Holdings, Inc.(NYSE:BKC) net income fell in third quarter
Burger King Holdings, Inc.(NYSE:BKC) net income fell in third quarter
Burger King Holdings, Inc. is a fast food hamburger restaurant reported a low proft in third quarter. Sacbee reported that Burger King net income fell 83 percent in the third quarter as the world’s second biggest hamburger chain sold off more of its restaurants to franchisees as part of a turnaround push. But the company’s adjusted results topped Wall Street expectations.

The private investment firm that owns a majority stake in the fast-food chain, 3G Capital, has been working to put the shine back in Burger King’s crown since purchasing it in 2010. In addition to unveiling its biggest ever menu expansion and a celebrity-studded ad campaign this spring, the firm has been shifting to an entirely franchisee-owned model to cut down on overhead costs and boost profit margins

3G’s turnaround push comes amid a time of intensifying competition in the U.S., with Taco Bell’s introduction of popular new menu items such as its Cantina bowls and Wendy’s looking to transform into a higher-end burger chain. And although McDonald’s Corp. is seeing growth slow after years of dominating its rivals, the Oak Brook, Ill.-based chain has vowed to intensify its focus its Dollar Menu and value message to boost results in the challenging economy. Additionally, traditional fast-food chains are increasingly competing with a newer breed of chains, such as Panera Bread Co. and Chipotle Mexican Grill Inc., which offer higher-quality food for a little more money.

Burger King, which until recently had focused on courting junk food loving younger men, said new offerings are helping bring in more women and customers who are 55 and older, without eating into its core offerings of Whoppers and French fries. Steve Wiborg, president of North American operations, noted that the chain is benefiting from new menu lines, such as fruit smoothies, coffee frappes and specialty salads.

“That’s all new business for us,” Wiborg said.

Burger King, which is based in Miami and has more than 12,600 locations, said global revenue at stores open at least a year in the third quarter rose 1.4 percent. In the U.S. and Canada, the figure rose 1.6 percent as barbecue-themed menu items for the summer drove sales. The growth was slower than in the year-ago period, however, as the chain saw a decrease in the number of “value-focused” customers. Wiborg noted that Burger King is less dependent on its value menu than McDonald’s and Wendy’s.

CEO Bernardo Hees said sales at restaurants open at least a year are showing signs of picking up again for the fourth quarter. The sales figure is a key metric because it strips out the impact of newly opened and closed locations.

For the three months ended Sept. 30, net income fell to $6.6 million, or 2 cents per share. That compares with $38.8 million, or 11 cents per share, last year. Net income excluding one-items totaled 17 cents per share. Analysts expected 15 cents per share, according to FactSet.

Revenue fell 26 percent to $451.1 million, but was above the $439.7 million Wall Street expected.

Much of the revenue decrease came from Burger King selling restaurants to franchisees, which means the company no longer includes sales from those stores on its books. As of Sept. 30, Burger King said 95 percent of its restaurants were owned by franchisees; the goal is to eventually reach 100 percent.

Organic revenue, which excludes the impact of re-franchising and exchange rates, was flat.

In the region encompassing Europe, the Middle East and Africa, Burger King said sales at established restaurants rose 1.8 percent, driven by double-digit growth in Russia. Performance in Southern Europe was softer amid a weaker economic climate, the company said.

In Latin America and the Caribbean, Burger King said sales at established restaurants rose 2.7 percent. In the Asia Pacific region, the sales figure fell by 2.2 percent as weak performances in Australia and Korea dragged down results.

In addition to reviving its image at home, Burger King is increasingly focusing on international growth. The company has struck deals to expand in China and Russia through partnerships with franchisees. Over the past year, the vast majority of Burger King’s new stores have been in Europe, the Middle East and Africa.

Burger King Worldwide Inc.’s third-quarter results are the second since it began trading again on the New York Stock Exchange in June. As part of a complex deal to return Burger King to the public market, 3G sold a minority stake in the chain to Justice Holdings Inc., a London-based shell that was specifically set up to invest in another company,

3G Capital, which more than earned back the $3.26 billion it paid for Burger King through the sale, has agreed to hold onto its stake in the chain for at least six months. Justice agreed to hold onto its shares for at least a year. Burger King’s shares closed up almost 2 percent at $14.95 on Friday.(source

Chrysler Group LLC automaker earning record profits
The automaker company Chrysler Group LLC touched high profits in the third quarter to  $381 million as compared to $212 million in the Q3 last year.The profit has rocked by 80% from that of last year. Worldwide vehicle sales for the third quarter totaled 556,000, up 12 percent from a year ago. Sergio Marchionne, Chrysler Group CEO, also CEO of Fiat Auto said 
“We’ve changed the conversation at Chrysler Group,” 

Chrysler Group LLC is an American-based, multinational automaker, in global strategic alliance with its majority owner, Italian manufacturer Fiat, since 2009.
Chrysler Group LLC reported overall net income revenue rise to $15.5 billion, up 18% from a year ago. The company reported cash on hand of $11.9 billion in Q3 up from $9.5 billion a year earlier.Modified Operating Profit(b) grew to $706 million in the quarter, up 46 percent from a year earlier

The CEO also added

“We have revamped our product lineup with such segment-defining models as the Jeep Grand Cherokee and the Chrysler 300. Critics and consumers already are responding positively to the Dodge Dart and to the 2013 Ram 1500, with its best-in-class fuel economy,” 
Apple Inc. (NASDAQ:AAPL) gets into LED Bulbs Business with Philips
Apple Inc. (NASDAQ:AAPL) gets into LED Bulbs Business with Philips
Philips has introduced new series of Bulbs which will be available at Apple’s stores.The newly introduced bulbs not only are energy efficient but also can be tunned by users to the desired color.Settings can be saved so that users can recreate “scenes” instantly.Philips claims that these exper lights have special Light themes, called ‘LightRecipes’ that will help users to adjust lights to complement the body’s biological response to light.
Apple Inc. (NASDAQ:AAPL) gets into LED Bulbs Business with Philips
Apple also has taken another step and has moved in home automation industry.The new 50W (600 lumen) LED bulbs will give property owners the chance to remotely tune the lights, and will also allow them to save and adjust settings.All these remote features are implemented by the automation giant Apple.
Apple Inc. (NASDAQ:AAPL) gets into LED Bulbs Business with Philips

Andrea Smith, writing in Mashable, said that she had a lot of fun trying out the Hue system and app for a few days.
“I was able to change the colours of the light bulbs in different rooms, adjust the brightness level, or turn the lights off and on with one touch from my iPad.”
Apple Inc. (NASDAQ:AAPL) gets into LED Bulbs Business with Philips
The bulbs, that cost £179 for a starter pack also includes broadband connection equipment.Philips also hopes that software developers will create their own apps for Hue, which uses an open standard called ZigBee Light Link. 
One of the main advantage of the lights is  use for security purposes by switching on a light when you are not at home, which could put off prospective burglars. Also if you in huge apartments and home if its easy to switch on and off lights or manage them at different times these unique bulbs by Philips can be tunned at required settings and you dont have to put a lot of efforts in managing the lights system
Lawyers for China premier’s family deny "hidden riches" claim

(Reuters) – Lawyers representing the family of Chinese Premier Wen Jiabao have rejected claims made by the New York Times on Friday that they have accumulated at least $2.7 billion in “hidden riches”, Hong Kong media reported on Sunday.
Lawyers representing the family of Chinese Premier Wen Jiabao
The New York Times, citing corporate and regulatory records, reported on Friday that Wen’s mother, siblings and children had amassed the majority of their wealth since Wen was named Vice Premier in 1998.
In a statement issued late on Saturday and carried by Hong Kong television as well as the South China Morning Post and Sing Tao Daily newspapers, Bai Tao of the Junhe Law Office and Wang Weidong of the Grandall Law Firm said the wealth “does not exist”.
They also denied that Wen had acted improperly or engaged in business activities himself, and said his relatives had not profited in any way from his tenure as premier and had no influence on Wen’s “formulation and execution of policies”.
The statement said Wen’s mother had never received any income or property apart from her salary and pension.
Telephone calls made to the law firms by Reuters were not answered.
The Times’ report said the names of family members “have been hidden behind layers of partnerships and investment vehicles involving friends, work colleagues and business partners”.
It said his family’s holdings include a Beijing villa development project, a tire factory in northern China, a company involved in building some of the venues for Beijing’s 2008 Olympics including the “Bird’s Nest” main stadium, and Ping An Insurance, one of the world’s largest financial services companies.
The New York Times report came at a sensitive time for Beijing, with China about to undergo a once-in-a-decade change of leadership in which Wen will step down as premier.
The newspaper’s websites in English and Chinese were immediately blocked in China, and searches for the New York Times as well as the names of Wen’s children and wife were blocked on China’s main Twitter-like microblog service.
Foreign Ministry spokesman Hong Lei told a daily briefing on Friday that the report “smears China’s name and has ulterior motives”.source (reuters)
Qihoo 360 Technology Co Ltd (NYSE:QIHU), taking ON, Inc. (ADR)(NASDAQ:BIDU) in China
Baidu, Inc. (Nasdaq: BIDU), the leading Chinese language Internet search provider, today announced that it will report its financial results for the third quarter ended September 30, 2012, after the U.S. market closes on October 29, 2012. Baidu’s management will hold an earnings conference call at 8:00 PM on October 29, 2012 U.S., Inc. (ADR)(NASDAQ:BIDU) vs Qihoo 360 Technology Co Ltd (NYSE:QIHU), Inc. (ADR)(NASDAQ:BIDU), a Chinese web services company is still facing competition from Qihoo 360 Technology Co Ltd (NYSE:QIHU), which is known for its antivirus software (360 Safeguard) and web browser (360 Browsers).Currently Qihoo 360 is gaining in popularity and Baidu needs to take the threat seriously.
Baidu offers many services, including a Chinese language search engine for websites, audio files, and images. Baidu has surrendered $9 billion in market value since the reports of Qihoo 360’s strength in search surfaced in mid-August, but Qihoo 360’s market cap has only grown by $700 million.
Its expected that Baidu earnings at $1.28 a share, revenues at $998 million and earnings guidance for the fourth quarter at $1.03 billion.
A new lawsuit against Wal-Mart Stores, Inc.(WMT)
A new lawsuit against Wal-Mart Stores, Inc.(WMT) and two staffing agencies it works with, could affect hundreds of temporary workers in Chicago.
Reuters reported the suit alleges Bentonville, Ark.-based Wal-Mart (NYSE: WMT), Labor Ready and QPS violated minimum wage and overtime laws as well as not paying temporary workers a minimum of four hours’ pay on days.
new lawsuit against Wal-Mart Stores, Inc.(WMT)
Wal-Mart spokesman said the company is still reviewing the complaint, and that “the litigation is driven by the same union organizations that have been mischaracterizing several issues about Walmart and are more concerned with creating publicity than with improving workers’ rights.”
The Walmart spokesman Fogleman further added that “We are committed to ensuring that anyone working in our stores – whether they’re employed by Walmart or, in this case, a temporary staffing agency – is treated appropriately and compensated fairly for every hour they work,”.
Wal-Mart has is also facing other protests as well including workers claiming they will walk off the job the day after Thanksgiving, known as Black Friday, Reuters reported. 
McDonald’s Corporation(NYSE:MCD) has no plans of selling packaged coffee in the U.S.
McDonald's Corporation (NYSE: MCD) which will be selling 12 ounce packaged coffee
McDonald’s Corporation (NYSE: MCD) is the world’s largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries. 
McDonald’s Corporation (NYSE: MCD) which will be selling 12 ounce packaged coffee in some of its resturants in Canada has no plans to sale the same in United states.With the News Shares in McDonald’s were down 0.6 percent at $86.70 in midday trading on the New York Stock Exchange

The News of the company’s plans for selling coffee in Canada came shortly after market watchers noticed that McDonald’s had filed with the U.S. Patent and Trademark Office to use its McCafe brand for “ground and whole bean coffee.
Rivals Coffee chains such as Starbucks and Dunkin’ Donuts (DNKN.O) sell packaged coffee through the retailers and at shops. McDonald will be a new competitor to them.