What's In The News: June 2, 2011

Financial News Network
June 02, 2011 AT 8:45 PM
This is what's in the news for Thursday, June 2nd. Bloomberg reports that News Corp. (NASDAQ:NWSA) will make a decision on MySpace in two weeks. Bloomberg reports that Novartis (NYSE:NVS) is willing to spend up to $3B on acquisitions of consumer health or veterinary assets to bolster the drugmaker's undersized businesses in those areas. Reuters reports that Citigroup (NYSE:C) signed an agreement with Shanghai-based Orient Securities Co, allowing it to launch a securities joint venture in China. The Wall Street Journal reports that Private-equity firm Gores Group is in talks to buy over half of Borders Group's (PINK:BGPIQ) remaining stores out of bankruptcy, in a deal that would keep the bookstore chain operating as a going concern. The Financial Times reports that China says claims by Google (NASDAQ:GOOG) that it uncovered a campaign run from inside China to secretly monitor the e-mails of hundreds of Gmail users are "completely unfounded. Finally, the Wall Street Journal reports that Nasdaq (NASDAQ:NDAQ) will today unveil a partnership with Loyal3, an Internet start-up and registered securities transfer agent, to sell stock directly to consumers via the Web, including through social-networking site Facebook.