COMPANIES

Baker was appointed by President Obama in June 2009. She is the second commissioner to announce his or her resignation from the FCC -- Commissioner Michael Copps is set to leave at the end of the year after 10 years -- but certainly is not the first Washington to take a position like this.

Toyota Motor Corp. (TYO), the world's top selling auto maker, on Wednesday announced a 77% drop in net profit in the January-March quarter. Toyota said that fiscal fourth quarter net profit slid to 25.4 billion yen ($314 million) from 112.2 billion yen a year earlier. The operating profit was 46.1 billion yen, falling short of analysts' average estimate of 94.6 billion yen, according to Thomson Reuters.

Google Inc. (GOOG) said in a regulatory filing Tuesday that it had set aside a half billion dollars for potential resolution of a U.S. government investigation related to online advertising, the latest in the Mountanview, California's continuing skirmishes with regulators around the world.

Westpac Banking Group chairman Ted Evans has announced plans to retire at the end of 2011, after the company’s annual general meeting.

A skimpy swimsuit print that is part of the newest goddess-inspired collection uncovered by a Byron Bay swimsuit designer angered the Indians.

Westpac (ASX: WBC) says its current Audit Committee Chairman, Lindsay Maxsted will succeed Ted Evans as Chairman when he retires following the 2011 Annual General Meeting on 14 December 2011.

Businesses in Australia will benefit from the latest Federal Budget, following several positive announcements handed down overnight, according to the Commonwealth Bank of Australia (ASX: CBA).

Steelmaker and iron ore exporter, OneSteel has downgraded full-year earnings guidance by 14%, a move that justifies the long slump in the share price this year.

Ramplin Capital, acting as independent director to the SEB Prime Solutions UCITS platform, would like to announce that Vertex Capital Management Ltd, the London-based investment advisory firm, has launched a new UCITS fund via SEB Prime Solutions.

In April, the total value of imports and exports increased 25.9% year on year to $US299.95 billion.

Job advertisements on the internet and in newspapers have increased by 20.5% compared to this time last year, according to ANZ's latest survey.

International credit rating agency Standard & Poor's Ratings Services said May 9 that is has lowered its long-term issuer credit rating on New Zealand finance company NZF Money Ltd. (NZF) to 'CCC-' from 'CCC'.

The Insurance Council of Australia has released updated figures on how the general industry has responded to the enormous task of assessing over 118,000 insurance claims received as a result of the Queensland floods and Cyclone Yasi.

Recently introduced budget auto, the Chery J1, China’s first passenger car in the Australian market has been rated just three stars out of a possible five by the Australasian New Car Assessment Program (ANCAP).

Cisco Systems Inc. (CSCO) will hold a conference call for Wednesday, May 11, 2011 at 1:30 PM (PT), to discuss its third quarter fiscal year 2011 results, amid a management shake-up that began last month. Financial results will be released after the close of the market on Wednesday.

Gamers world-wide are in for another visual treat and experience as they can be the ones to lead the assault into the simulation videogame battleground set in the background of the late Al-Qaeda leader Osama Bin Laden's abode in Pakistan.

Canada-based gold explorer Golden Peaks Resources Ltd. has added a new project in its “strategic shift in focus to Indonesia” with the completion of its acquisition of Reliance Resources Ltd., the company said on Monday.

Singapore Telecommunications Ltd. (SingTel) has announced that its chairman, Chumpol NaLamlieng, is stepping down in July

Complaints from angry customers have forced retailer General Pants to censor its ‘sex’ campaign for fashion label Ksubi, which features teenage staff wearing ‘I love sex’ badges.

CME Group Inc. (Nasdaq: CME) today announced that its board of directors has authorized a return of capital to shareholders through a share buyback program of up to $750 million of CME Group Class A common stock, subject to market conditions. The buyback program will take place over a period of up to 12 months.

Omgeo, the global standard for post-trade efficiency, announced today that it has launched the Hedge Fund Operations Forum (HOF), an industry peer group for UK-based hedge fund operations professionals. Members of the HOF will meet on a quarterly basis to exchange ideas and knowledge of operational best practice implementation that goes beyond current regulatory requirements.

The Senate’s second interim report into milk pricing has acknowledged the customer benefit of lower milk prices - and that such benefits should not be dismissed lightly.

A planned one-hour strike by more than 1,000 engineers is expected to delay Qantas Airways’ flights Friday at airports across Australia.

Aircraft engineers at Qantas plan a one-hour work stoppage on Friday that will launch what they intend to be a series of industrial actions against the airline.

Google Inc. (GOOG) failed to overturn a ruling by a Belgian court that that blocked the world's number one search engine from publishing links to local newspapers on Google's online news service.

LastPass has withdrawn its command for all its users to reset their master passwords due to a possible database breach.

Now General Motors Company (GM), second only to Toyota in global auto sales, has reported its fifth consecutive profitable quarter, posting net income of $3.2 billion, or $1.77 per fully-diluted share. Revenue in the first quarter ended March 31 increased $4.7 billion to $36.2 billion, compared with the first quarter of 2010.

Equity prices in the US were mostly lower as investors eye Friday's employment report, which are now expected to come in even softer than the beginning of the weeks expectations.

Internet giant Google has launched its Google Shopping product search engine in Australia.