Nabbed
Florian Wilhelm Jurgen Homm, a German hedge fund manager was arrested in Florence on US fraud charges. Homm allegedly caused at least $200 million in losses to investors in hedge funds operated by Absolute Capital Management Holdings, according to the US attorney’s office in Los Angeles.
$$ for spinoff
News Corp.’s publishing spinoff will be armed with $2.6 billion in cash and no debt, demonstrating Chairman Rupert Murdoch’s commitment to print. News Corp. owns The Post and Wall Street Journal.
Heads ‘Rola
Google is cutting about 1,200 jobs at its Motorola Mobility unit seven months after it said it was cutting 4,000 jobs at the company it bought last year for about $12.4 billion.
B&N contract
Barnes & Noble CEO William Lynch signed a new two-year employment contract amid uncertainty about the future of the company.
Stringer exit
Sony board Chairman Howard Stringer, who became the first non-Japanese exec to lead the company, said he will retire in June.