Microsoft takes the stage at E3 to talk up Xbox.

Marvel starts production on Iron Man 3.

Vita Coco unveils new campaign with Rihanna (right).

Aon Hewitt finds positive shift in internal brand engagement.

Black & Decker coffee machines recalled following 1,300 complaints.

BlackBerry parent RIM shares drop below $10.

Celsius mobile phone with embedded Swiss timepiece retails for $312K.

Coca-Cola and McDonald's hit back at Mike Bloomberg's NYC big soda ban.

Corning expands on Gorilla Glass with thinner Willow Glass.

Facebook shares tumble to new low on Sanford Bernstein questions.

Ford crowdsources Focus ST commercial.

Google's Project Glass codename? Wingman.

Got Milk? and California Dairy Council partner for consumer education campaign.Continue reading...

One-quarter of the 100 highest-paid US CEOs' compensation last year surpassed the federal income tax paid by their companies.

Given America's staggering national debt, that statistic — from a new report by the Institute for Policy Studies — has touched off a firestorm led by Democratic Representative Elijah Cummings, ranking member of the Committee on Oversight and Government Reform, who called for hearings on executive compensation.

The IPS report on executive pay found the 2010 average compensation for those 25 execs was $16.7 million. Brands topping the list include: 

* eBay, whose CEO John Donahoe made $12.4 million, but which reported a $131 million refund on its 2010 current U.S. taxes.

* Boeing, which paid CEO Jim McNerney $13.8 million, sent in $13 million in federal income taxes, and spent $20.8 million on lobbying and campaign spending.

* GE, where CEO Jeff Immelt earned $15.2 million in 2010, while the company got a $3.3 billion federal refund and invested $41.8 million in its own lobbying and political campaigns.

According to Reuters, Cummings has asked the committee "to examine the extent to which the problems in CEO compensation [have] led to the economic crisis,” and "why CEO pay and corporate profits are skyrocketing while worker pay stagnates and unemployment remains unacceptably high."Continue reading...

GM backs out of Opel deal with Magna International. [WSJ]

Toyota considers evolving the Prius into a family of vehiches. [MediaPost]

Renault SA revives the legendary Gordine brand. [WSJ]

Chinese environmentalist Su Wei calls Hummer a "garbage brand." [Newsweek]

Kraft defends its Cadbury bid, generates $9 billion in financing. [Times of London]

China approves Disney theme park for Shanghai. [NY Times]

Marks & Spencer to sell branded grocery products. [WSJ]

Tool manufacturers Black & Decker and Stanley Works to merge. [WaPo]

(More headlines: Twinings, Adidas, Glenfiddich in China.)Continue reading...