Hackers working from China have reportedly had access to Nortel’s networks since breaching the telecommunication company’s networks as far back as 2000. According to a report from the Wall Street Journal , hackers stole seven passwords from Nortel’s top executives, granting them access to reports, business plans, employee e-mails and other documents. Read full article > >

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Report: Chinese hackers breach Nortel networks

Google is reportedly prepping a cloud-drive competitor to services such as Dropbox. According to a report from the Wall Street Journal, the company is planning to roll out a storage locker in “weeks or months.” Read full article > >

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Report: Google plans cloud-storage service

It could be a monumental week for Facebook, the wildly successful social network, which may file for its initial public offering in the coming days. The IPO, which is expected for the second quarter, could raise as much as $10 billion and could value the social network between $75 billion and $100 billion, the Wall Street Journal is reporting . Anything less than $75 billion would be seen as a disappointment. Read full article > >

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Facebook IPO could bring new leadership challenges for CEO Mark Zuckerberg

Raju Narisetti, a managing editor of The Washington Post, has resigned to oversee the Wall Street Journal’s digital news operations and be deputy managing editor of the paper. In three years at The Post, Narisetti helped recruit a digital news team, led efforts to merge digital and print operations and oversaw the selection and installation of a new computer content system to ease the production of online material. Read full article > >

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Post managing editor to join Wall Street Journal

When a brand whose name is nearly synonymous with photography prepares to file for bankruptcy, photographers, naturally, are a bit upset. According to a Wall Street Journal report, Kodak , the 131-year-old photography company, is preparing for a Chapter 11 filing. If the company cannot sell its cache of 1,100 digital-imaging patents — which could fetch from $2 million to $3 billion —Kodak will go bankrupt. Read full article > >

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Kodak bankruptcy: Photographers mourn

“Over the past three years, Barack Obama has been replacing our merit-based society with an Entitlement Society,” Mitt Romney wrote in USA Today last month. The coming election, Romney told Wall Street Journal editors last month, will be “ a very simple choice ” between Obama’s “European social democratic” vision and “a merit-based opportunity society — an American-style society — where people earn their rewards based on their education, their work, their willingness to take risks and their dreams.” Read full article > >

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No longer the land of opportunity

Sink your teeth into today's top stories from around the globe. Should you be charged a “slicing fee” when you BYOC (that's “bring your own cake”) to a restaurant? – The Independent If you've ever wondered how a 100-year-old champagne tastes, Jay McInerny can now enlighten you. – Wall Street Journal Mike Tyson spoofs Herman Cain's “Imagine There's No Pizza” – because he can. – Zagat That Twinkie craving may not be your fault, blame your mind: The brain tells us to eat junk food when we're hungry. – Guardian Macarons and macaroni have a lot more in common than you think. – Slate

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Box lunch: Cake fees and macaroon ties

Apple chief executive Tim Cook hasn’t made many changes to the company since taking over as its top executive in late August, but he has made a few. According to a report from the Wall Street Journal, Cook is taking the advice of business analysts and his late boss Steve Jobs by setting up his own path for the company. The report said that Cook has stepped in to make some administrative changes, separating the company’s education division into sales and marketing groups, and putting iAds under the supervision of Eddy Cue, now the senior vice president of cloud services. Read full article > >

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Apple CEO Tim Cook makes some changes

Ever since Texas Gov. Rick Perry (R) entered the race for president, the conventional wisdom has been that he could be a great primary candidate, but wouldn’t necessarily be the GOP’s strongest general election contender. “He can sound more Texas than Jerry Jones , George W. Bush and Sam Houston combined, and his muscular religiosity also may not play well at a time when the economy has eclipsed culture as the main voter concern,” wrote the Wall Street Journal editorial board. Added the National Review ’s Stanley Kurtz: “I think it’s fair to say that, as it stands today, he’d be a riskier pick than Romney.” Read full article > >

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What we know so far about Rick Perry’s electability

VIRGINIA BEACH — Jamie Radtke may not yet be well-known to most Virginians, but she was in her element at one event last week. “I’m especially glad to be in a roomful of terrorists ,” Radtke said at a chapter meeting of the Hampton Roads Tea Party, drawing knowing laughter. “And hobbits!” yelled an audience member, a reference to the Wall Street Journal and Sen. John McCain (R-Ariz.) complaining about the demands of the “tea party hobbits.” Later, Radtke sarcastically told the audience: “You, single-handedly, caused the ‘tea party downgrade.’ ” Read full article > >

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Tea-party candidate Radtke tries to gain traction in Senate race

By Kimihiro Hoshino/AFP/Getty ImagesThe Wall Street Journal reported Monday that Twitter is in talks to buy TweetDeck, the popular Web and mobile app generally associated with Twitter power users.

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Report: Twitter in talks to buy TweetDeck

The New York Times says, contrary to reports in Bloomberg and The Wall Street Journal, Apple is not working on a smaller model iPhone. A smaller iPhone would be just as expensive to build and it would require many software developers to rewrite their…

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Smaller iPhones a Myth?

Is there a smaller, cheaper version of the iPhone on the way? Rumors abound, but now the Wall Street Journal has found “people familiar with the matter” who have actually laid hands and eyes upon it:

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More clues point to iPhone nano debut

I love when people get upset about the valuation of a particular company. A fine example of the genre was posted today at the Wall Street Journal . The target: Twitter. The argument is basically that the company doesn’t make enough money for people to value it so highly. Felix Salmon does a great job of providing the counterargument , but I want to make a broader point. Valuations are fictions. Within some boundaries and particularly with growth companies, companies are worth as much as they are because people think they are worth as much as they are. How much growth a company may undergo is pretty much anybody’s guess, although you’ll find plenty of people saying they’ve figured it all out. There is no central truth about how much a company should be worth that some access while others are in the dark. People create plausible stories out of the available evidence and then place their bets.That’s all that’s going on. There are more and less plausible stories (as Salmon notes) but they are all stories. To take an extreme example, who could have told us what would happen to Apple back on July 10, 2006? If I have a real pet peeve, it is behaving like we know more about the future than we do. Quantification — now with more precision! — tends to obscure the fact that assumptions matter more than anything. Good management (as if one could easily make that call) gets one multiple on its revenue while bad management gets a lower one. We celebrate Dell’s rigor, and then we find out it was a sham . Yet still we don’t learn the lesson that our guesses about reality are just that. At their best, the valuation battles are good because they sharpen our thinking about why we think one company or another will grow. But usually they seem like proxy battles over whether, say, Twitter is a total waste of time.

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Twitter May or May Not Be Worth $10 Billion, but Who Believes Valuations Anyway?

Gadget geeks hoping for a “retina” display on the new iPad will have to wait for the third generation: The new second-generation device’s display is similar to that of the current iPad. The Wall Street Journal says the second-generation iPad is now in…

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New iPad in Production