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Financial News Network
May 26, 2011 AT 7:11 PM
This is what's in the news for Thursday May 26, 2011. Reuters reports that influential hedge fund manager David Einhorn has called for Microsoft (NASDAQ:MSFT) CEO Steve Ballmer to step down, saying the world's largest software company's leader is stuck in the past. Reuters also reports that according to the daily Kommersant Russia's TNK-BP, half owned by BP (NYSE:BP), is ready to spend $1B to acquire a stake in oil and gas fields in Brazil as part of its foreign expansion. Bloomberg Businessweek reports that Apollo Global Management LLC (NASDAQ:APO) and Broadway Partners offered to buy the U.S. real estate holdings of Charter Hall Office REIT for more than $1.68B. The Financial Times reports that the Federal Reserve Bank of New York is investigating allegations of misconduct by the mortgage servicing arm of Goldman Sachs (NYSE:GS). And finally, the Wall Street Journal reports Home Inns & Hotels Management (NASDAQ:HMIN) is close to buying a 59% stake from Morgan Stanley (NYSE:MS) in Shanghai Motel Management Co. in a deal that values the company at about $500M.