Revenue for both companies grew but fell short of projected earnings

Glencore Xstrata's chief executive, Ivan Glasenberg, has announced three new appointments to the board of the wheat trading-to-coal mining empire, including the veteran Wall Street banker John Mack.

Departing Virgin Media chief executive Neil Berkett was today named chairman of Guardian Media Group, sending a powerful signal that its loss-making flagship newspaper could soon charge for its website.

Technology website Tech Crunch is reporting that Google will pay Apple at least $1bn (£629m) next year to be the default iOS search engine.

Apple wobbled last week, and shares in smartphone makers shuddered. The US superstar tech brand reported its lowest sales growth since 2009, and investors ran scared from Apple suppliers such as Imagination Technologies, which lost more than 5 per cent after the bad Apple news.

The US investment bank Morgan Stanley swung to a $1bn (£620m) loss over the third quarter – but beat market hopes with earnings that rose on the back of strong revenues from its bond-trading business.

He's the $10m a year man who heads one of the most powerful investment banks, but yesterday he offered a surprising confession: bankers are ridiculously overpaid.

First task?

Facebook's stock is climbing higher, a reprieve for shareholders after the stock's rocky inaugural trading day on Friday was followed by a two-day decline.

Shares of Facebook took another tumble today, continuing a downward spiral that began at the start of the week.

The investment banks Goldman Sachs and Morgan Stanley could be on for a bumper pay day after being selected to float Russia's second-largest mobile phone company on the London stock market.

Hopes are rising of a significant advertising boom from a triple whammy of feelgood events with the Diamond Jubilee, Olympics and Euro 2012 football championship between June and August.

Mack the Knife?