Facebook Results Surge on Ad Revenue

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The social network displayed new evidence of its advertising momentum, posting a big increase in first-quarter earnings that will give the company more resources to challenge bigger players in the technology industry.

Zynga Founder Cedes Operating Role

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Zynga founder Mark Pincus is giving up his operating role at the company, one of several management changes announced along with first-quarter results that include a 36% decline in revenue.

Publicis Expresses Confidence on U.K. Tax Status

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France's Publicis Groupe tried to reassure investors about the fate of its $35 billion merger with Omnicom, saying it was confident the proposed new company would get necessary approval to have its fiscal residence in the U.K.

Amedisys to Pay $150 Million to Federal Government

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The home-health provider agreed to settle claims it submitted false billings to Medicare and had "improper financial relationships" with doctors.

América Móvil to Make Bid for Telekom Austria

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Mexican telecommunications heavyweight América Móvil said Wednesday it will make a bid to acquire outstanding shares in Telekom Austria after reaching a shareholder pact with the Austrian carrier's largest shareholder, Österreichische Industrieholding.

FCC Rules Would Allow Preferred Web Traffic

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The FCC plans to propose new open Internet rules on Thursday that would allow content companies to pay Internet service providers for special access to consumers.

Lockheed Taps Orders From Abroad

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Lockheed has secured enough orders for its F-35 fighter jet from overseas buyers to counter Pentagon cuts and sustain a planned production increase.

Light Goes Out on U.K. Coal Industry

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The British coal industry is on the point of fizzling out, following the planned closure of two of its three remaining deep mines in northern England. Among the beneficiaries: Russian exporters of the commodity.

Chobani Reaches Deal for $750 Million Investment From TPG

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Greek yogurt maker will receive a $750 million investment from private-equity firm TPG, as the company prepares for an IPO and expands into cooking ingredients and desserts.

Canada's Crescent Point to Buy CanEra Energy

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The Calgary-based company said it would buy CanEra for $1.1 billion Canadian dollars. Crescent Point also raised its exit production rate outlook for the year.

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