EBay Unit Builds Payments Clout

Keefe Bruyette, a financial-services specialist, launched coverage of eBay, the online auction site that also owns the PayPal payment system. The move sends a message to Visa and MasterCard, which have long dominated the area.

Justices Reject Drug Reps' Overtime Pay

The Supreme Court ruled 5-4 that drug companies don't have to pay their sales representatives for working overtime hours.

Europe Stymies Stocks

Stocks bounced from opening lows to waver between slight gains and losses for most of the day. The S&P 500 rose 1.94 points and the Dow eased 25.35.

Regulators Widen Toyota Fire Probe

The U.S. government has added 600,000 Camrys and other Toyota vehicles to an investigation of fires originating in power window switches.

ServiceNow Will Test IPO Market

ServiceNow plans this week to start pitching shares to large investors, one of the first signs of life for U.S. IPOs since Facebook went public.

Small Banks Put Up 'For Sale' Sign

A growing number of tiny community banks are deciding it's time to sell, frustrated by costly, new regulations and limited growth prospects.

Icahn Ally to Join Chesapeake Board

A representative of activist investor Carl Icahn will join the board of embattled natural-gas giant Chesapeake Energy, according to people familiar with the matter.

Crude Pares Losses

Crude-oil futures slipped 0.9%, trimming early losses, as news of the euro-zone credit crisis and its potential to squelch oil demand dominated the market.

European Market Rally Fades

Spain's 10-year bond yield crossed 7% and equities eked out meager gains after relief from the Greek election faded and bad debts held by Spanish banks rose to an 18-year high in April.

'Whale' Swam in Choppy Waters

The trader at the center of J.P. Morgan's losses at times resisted sharing some details of his positions with superiors, while another trading executive has a history of clashing with colleagues.

Samsonite Recalls Luggage

Samsonite removed suitcases from Hong Kong stores after a consumer group found that the items had high levels of potentially carcinogenic chemicals.

Facebook to Buy Face.com

Facebook agreed to buy Face.com, whose technology users of the social-networking site can deploy to recognize contacts in photos.

Guilty Plea in Insider Case

A former employee of AT&T pleaded guilty to providing inside information to clients of a so-called expert network firm.

Sonos Gets $135 Million Infusion

Speaker maker Sonos has secured $135 million from a group comprising KKR, Redpoint Ventures and people who are partners in Elevation Partners.

IBM Computer Wins Speed Record

An IBM supercomputer installed at a U.S. laboratory achieved the top speed rating in the world, ending Japan's one-year reign atop a ranking that is considered crucial for scientific research and national defense.

Exxon Drops Poland Shale Plans

Exxon said it has dropped further shale exploration in Poland after two wells failed to yield commercial quantities of natural gas, a hit for the country's efforts to reduce its dependence on imports from Russia.

Japan: U.S. Bonds Safe, Attractive

The government plans to keep a strong concentration of U.S. Treasurys in its foreign-exchange reserves.

Fairfax to Cut 1,900 Jobs

Fairfax Media plans to eliminate 1,900 jobs, or nearly 20% of the Australian newspaper publisher's workforce. The cuts are part of measures to save the company $237 million annually by June 2015.

Microsoft Preps Its Own Tablet

Microsoft is set to announce plans to sell a tablet computer under its own brand, as the software maker continues to play catch-up in the mobile markets.

C&WW Gets Support for Vodafone Deal

U.K. telecommunications operator Cable & Wireless Worldwide secured approval for an agreed upon takeover by mobile giant Vodafone after its largest shareholder swung behind the deal.