This is what's in the news for Friday, June 3rd. The Associated Press reports that hackers who call themselves LulzSec say Sony (NYSE:SNE) has been hit by another massive data breach. The Financial Times reports that News Corp. (NASDAQ:NWSA) and regulators formed an agreement in principle on a deal that will remove the final obstacles to a bid for British Sky Broadcasting (PINK:BSYBY). Bloomberg reports that Goldman Sachs (NYSE:GS) is closing in on the sale of Litton Loan Servicing to Ocwen Financial (NYSE:OCN) two months after writing down the value of the mortgage servicing business by about $200M. Reuters reports that Mazda Motor (TYO:7261) will cease production in the U.S. by about 2013 and cancel its joint venture with Ford (NYSE:F) as the automaker is reviewing its global production system. Finally, The Wall Street Journal report that Electronic Arts (NASDAQ:ERTS) is starting an online service to sell downloadable games directly to consumers as it moves to offer more of its products over the Internet, and not through discs at stores.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up