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Wall Street rebounds, but investors dump Facebook

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. Tech shares were among the day's biggest gainers, with an S&P sector index surging 2.8 percent on the strength of Apple Inc . Shares of Apple climbed 5.8 percent to $561.28, leading the Nasdaq to its biggest one-day percentage gain since December 2011. ...


MF Global paid Corzine $8 million in year before collapse

Corzine testifies before a House Financial Services Committee Oversight and Investigations Subcommittee hearing on the collapse of MF Global, at the U.S. Capitol in Washington(Reuters) - Former MF Global Holdings Ltd chief Jon Corzine received more than $8 million in pay and stock options from the futures brokerage in the year before it went bankrupt. Corzine's pay along with that of other former MF Global executives was listed in a court document filed on Friday by Louis Freeh, the trustee unwinding the company's bankrupt estate. Corzine, a former Goldman Sachs chief and New Jersey governor, was paid $3 million in cash, the filing showed, as well as $5.35 million in stock options, which are likely now worthless. ...


Departures leave Dewey a shell of its former self

A man walks out of the Dewey & LeBoeuf offices with a box in New YorkNEW YORK (Reuters) - Seventeen more partners at Dewey & LeBoeuf announced their departure on Monday, as the failing law firm considered filing for bankruptcy. Rival law firm Proskauer Rose said it was bringing in four partners, including Ralph Ferrara, a vice chairman at Dewey and former general counsel of the U.S. Securities and Exchange Commission. Duane Morris, another law firm, said it was hiring 16 lawyers from Dewey, including six of its partners. ...


Ex-Yahoo director, fund manager made illegal trades: U.S.

File photo of a Yahoo! sign at their headquarters in Sunnyvale(Reuters) - Federal prosecutors on Monday announced insider trading charges against a former Yahoo employee and a fund manager for illegally sharing and trading on secret company information. The pair pleaded guilty in Manhattan federal court on Monday, the Manhattan U.S. Attorney's office said in a press release. They were also charged by U.S. securities regulators in a parallel civil proceeding. The SEC said it is pursuing a civil settlement with the two. ...


Apple still dominates world's top brands: study

Two men stand in front of an Apple logo outside an Apple store in Shanghai(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 percent of its market capitalization, according to the annual BrandZ study by leading brands and market-research agency Millward Brown. ...