AP State Business News

Troubled electric car maker Fisker Automotive plans to lay off a large number of the workers at its California headquarters on Friday, a person briefed on the matter said.

Facebook Home, the new software that takes over the front screen of a smartphone, is a bit of a corporate home invasion. Facebook is essentially moving into Google's turf, taking advantage of software the search giant and competitor created.

Ralph Whitworth was named Thursday as interim chairman of Hewlett-Packard Co.'s board after its chairman, Ray Lane, stepped down. Whitworth posted an open letter on the personnel changes, which included decisions by John Hammergren and Ken Thompson. They had been nearly ousted two weeks earlier at HP's annual meetings as shareholders are upset by a series of mistakes that have damaged the company's share price.

Hewlett-Packard Co. chairman Ray Lane is stepping down. The announcement Thursday comes two weeks after a near ousting by shareholders. Here are some biographical details on Lane.

Hewlett-Packard Co. says board chairman Ray Lane is stepping down. The move comes two weeks after a near ousting by shareholders at the company's annual meeting. Here's a timeline of some key events in HP's history since it acquired the PC business.

Hewlett-Packard Co. Chairman Ray Lane is stepping down and two other board members are leaving in a shake-up spurred by disgruntled stockholders stung by the personal computer maker's downfall.

Intel CEO Paul Otellini received a pay package valued at $18.9 million last year as he prepared to retire, bowing out from a challenge posed by the growing popularity of mobile devices that have curtailed the demand for the company's personal computer chips.

Rdio, the music streaming service started by a co-founder of Skype, is getting into video.

Cisco plans to buy privately held Ubiquisys for about $310 million in cash in order to strengthen its mobility strategy more and enable more intelligent mobile internet networks for service providers.

Chevron Corp. says Chairman and CEO John Watson will get a $3.5 million cash bonus for the oil company's big profit in 2012.

Los Angeles Times executive Kathy Thomson has been named chief operating officer of the Tribune Co.'s publishing division.

Goldman Sachs dropped Apple off its list of most highly recommended stocks Tuesday as it joined other analysts in reducing expectations for a company that hasn't had a revolutionary new product since the iPad in 2010.

Safeway CEO Steve Burd took a slight pay cut in 2012 as the grocery store operator cut his performance-based bonus.

Former U.S. Trade Representative Ron Kirk has joined the Dallas office of Gibson, Dunn & Crutcher LLP.

Authors Guild president and best-selling novelist Scott Turow is condemning Amazon.com's purchase of Goodreads, a leading book recommendation website.

Office products makers 3M Co. and Avery Dennison Corp. said Friday that they have resolved patent infringement lawsuits filed against each other related to certain reflective sheeting products used on traffic signs, pavement markings and other traffic control products.

Cisco Systems Inc. is increasing its dividend 21 percent, its second boost in less than a year.

Bank of America says chief executive Brian Moynihan received a 2012 compensation package worth $7.4 million, down slightly from the prior year, according to an Associated Press analysis of a regulatory document filed Thursday.

Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. increased by two this week to 1,748.

Amazon.com Inc., the world's biggest online retailer that got its start in bookselling, has agreed to buy book recommendations site Goodreads.

EBay Inc. expects its revenue and profit to keep heading higher in the coming years as its e-commerce business and fast-growing PayPal payments service continues to expand.

Internet search leader Google is taking another step beyond information retrieval into grocery delivery.

"Journey" arrived on top at the Game Developers Choice Awards.

Netflix's newest original series will be science fiction from the duo behind "The Matrix" trilogy.

Twitter's ad revenue is believed to be on pace to double this year as the online messaging service delivers more marketing pitches to mobile devices in preparation for a highly anticipated initial public offering of stock.

With the clock clicking down, Sacramento city officials took their last shot at keeping the NBA Kings in California's capital by approving a public-private deal to build a new 18,500-seat arena and retail center downtown.

Bryan Stockton, the CEO of Mattel Inc., the largest U.S. toy maker, received compensation valued at $11.9 million in 2012 during his first year in that role, and nearly double what he made as chief operating officer the prior year.

The Securities and Exchange Commission said Monday that it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook's initial public offering last year.

Tessera Technologies Inc., which licenses miniaturization technology for electronic devices, said Monday that it has begun a search for a new CEO and plans to overhaul its board.