In the News: Facebook, Kraft, Sony & more

AOL eases pressure on itself with patent deal.

AT&T sells majority stake in fading Yellow Pages.

Budweiser pursues Chinese consumers as a bit of a luxury.

Coca-Cola hopes to cause Tumult with European roll-out of premium soft drink.

DirecTV pleases investors with stock-buyback plan.

ESPN launches podcasts about internal operations.

Facebook snaps up startup Instagram photo-sharing site for $1 billion in its largest acquisition.

Nicked by rivals, Gillette shaves prices.

Hostess rolls back pre-bankruptcy raises.

Kraft launches global campaign around health benefits of Trident.

Miami Marlins manager creates firestorm in Cuban-American community with Castro remark.

Sony projects bigger loss.

Toyota overhauls R&D and decides to take more design risks.

Tumi sets terms for IPO.

Uniqlo expands to California.