As investors search for ways to diversify risk, hedge funds have expanded investments beyond stocks and bonds into art, wine, rare stamps and even soccer players. Read more..

By JULIA WERDIGIER - The New York Times

After two days of watching boldface names from afar, David Carr sits down with Eric Schmidt of Google for a late night chat. Surprise: He thinks Viacom’s $1 billion copyright suit against Google is nonsense. Read more..

By DEALBOOK - The New York Times

“Facebook? I really like the Facebook guys,” said Sergey Brin at the Sun Valley conference, pausing as if to consider what might be the right thing to say. “If they come to us, we’d certainly be open to talking. But I think they’re building a great company of their own.” Read more..

By DEALBOOK - The New York Times

At the E3 game conference in Santa Monica this week, Nintendo continued to be in unaccustomed role of 800 pound gorilla. The popularity of its Wii platform prompted a price cut by Sony. And Microsoft was reeling after admitting that there were defects in many of its Xbox 360 systems. Reggie Fils-Aime, the president of […] Read more..

By ERIC A. TAUB - The New York Times

L’Oréal, the cosmetics maker, said second-quarter sales rose 10 percent on gains in Eastern Europe and Asia and a recovery in North America. Sales rose to 4.25 billion euros ($5.85 billion) from 3.85 billion euros a year earlier. L’Oréal, based in... Read more..

By BLOOMBERG NEWS - The New York Times

Google and Microsoft downplay the competition between each other — at least when it comes to software applications. Read more..

By MIGUEL HELFT - The New York Times

An acquaintance unfriends Saul Hansell on Facebook and asks him to meet on more neutral ground: LinkedIn. What is friendship in the modern world. Read more..

By SAUL HANSELL - The New York Times

Aided by a weak dollar, China is quietly entering the European auto market in the first test of rich markets by Chinese automakers Read more..

By JOHN TAGLIABUE - The New York Times

Wall Street soared today, propelling the Standard & Poor’s 500 index and Dow Jones industrials to record highs. Read more..

By JEREMY W. PETERS - The New York Times

An Alabama-based coal company is facing a civil suit over the 2001 murders of three Colombian union leaders who worked for one of the company’s mines. Read more..

By KYLE WHITMIRE - The New York Times