Clipped
Hedge funds fell an estimated 2.1 percent in June, underperforming the S&P 500, which lost 1.7 percent, according to a flash report from BofA Merrill Lynch Global Research.
A new leaf
Google won the reversal of a court order allowing authors to sue as a group in a $3 billion lawsuit alleging the company violated copyrights with its project to digitize millions of books.
London done
Scott London, a former partner at accounting firm KPMG, faces up to 20 years in prison after pleading guilty to a securities-fraud charge involving insider information. London is to be sentenced Oct. 21.
Birch engine
Michael Birch, co-founder of social network Bebo, bought back the company from Criterion Capital Partners for $1 million, after selling it to AOL in 2008 for $850 million.
Cablevision
Cablevision shares rose $1.62, or 9.6 percent, to $18.44 after reports that Time Warner Cable is considering a bid for the company headed by founder Charles Dolan and his CEO son, James.