Business Today: Europe, Wal-Mart knock Wall Street lower

Click to View in Browser 04/23/2012 Europe, Wal-Mart knock Wall Street lower NEW YORK (Reuters) - Stocks fell on Monday as political turmoil in Europe cast doubts on the euro zone's ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe. Facebook reveals revenue, profit slide ahead of IPO SAN FRANCISCO (Reuters) - Facebook Inc said its revenue declined sequentially in the first quarter, the weakest performance by the world's largest social media network since at least 2010. Exclusive: CEO's sales of well stakes raise questions at Chesapeake (Reuters) - Chesapeake Energy Corp's chief executive came under fire last week after Reuters reported that he used his stakes in company wells to take out as much as $1.1 billion in personal loans. U.S. lawmakers launch Wal-Mart bribery investigation (Reuters) - Two Democratic lawmakers on Monday said they are launching an investigation into allegations of bribery at Wal-Mart Stores Inc's Mexican affiliate. BP sues Bridas on $7 billion South American deal collapse (Reuters) - BP Plc sued Argentina's Bridas Corp on Monday over a collapsed $7.06 billion asset sale, saying it is willing to pay a $700 million breakup fee so long as it will not face fraud claims arising from its conduct. Facebook pays Microsoft $550 million for AOL patents SAN FRANCISCO/WASHINGTON (Reuters) - Facebook will pay Microsoft Corp $550 million for hundreds of patents that originated with AOL, beefing up its intellectual property arsenal. Citi, Goldman, Credit Suisse prep joint Maiden Lane III bid NEW YORK, April 23 (Reuters/IFR) - Citigroup, Goldman and Credit Suisse plan to make a combined bid to purchase the assets of Maiden Lane III, a portion of the risky assets the Federal Reserve acquired when bailing out insurance giant American International Group in 2008, according to people familiar with the plan. AMR fires opening shot in court battle with workers NEW YORK (Reuters) - American Airlines kicked off a week-long court hearing on its bid to abandon union contracts, telling a judge on Monday that its bankrupt parent, AMR Corp, cannot survive without major concessions from its labor force. Nestle wins pricey battle for Pfizer baby food unit ZURICH (Reuters) - Swiss food group Nestle is to buy drugmaker Pfizer's baby food business for $11.85 billion, beating out French rival Danone in the battle for dominance of fast-growing emerging markets. Invesco may sell $18 billion wealth business: sources NEW YORK (Reuters) - Invesco Ltd is trying to sell its $18 billion wealth management business, according to five sources. Related Video Price change at the pump Verdict in Iceland PM trial Economic News Awash in money and piles of debt Europe pressed for action to end debt crisis A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend