Everybody has turned on Baidu. As recently as August (that’s last month if you’re not keeping score), this company was the “Chinese Google,” an IPO blockbuster. A few weeks later, stock prices plummet and as of this morning, Baidu is being sued by pretty much the entire music industry. Damned if you Baidu, damned if you Baidon’t.

Exciting news from New York City today as a new design for the city’s Freedom Tower, the successor to the demolished World Trade Center, was made public. For the patriot in all of us, it will stand at 1776 feet, making it the second tallest building in the world, and a symbol of American resolve.

Mining company BHP Billiton’s iron ore production increased by 14% in the third quarter.

The European Union lost an appeal against a World Trade Organization decision making its subsidized sugar exports illegal.

There is a great podcast over at View from the Isle – The Inaugral Business Blog Roundtable – on the topic of how frequently should you post’ on your blog.

The Royal Dutch/Shell Group’s earnings increased by 42% as a result of high oil prices.

The world’s biggest plane, the Airbus A380 double-decker began its first flight from a runway near Toulouse, France.

Valero Energy and Premcor have struck a deal for Valero to buy Premcor for $8 billion.

Consumer confidence in the United States sunk to its lowest in five months in April as gas prices reached new highs.

Eastman Kodak posted a loss for the first quarter resulting from the closing of plants and the elimination of jobs.

Bloomberg is reporting that an average of 25 analysts points to Google posting profits of $246 million, or 92 cents a share, in tonight’s quarterly earnings report.

Archipelago Holdings shares went up 55% after the announcement that the company agreed to be taken over by the New York Stock Exchange.

Sony Ericsson Mobile is not having the best luck with profits which have decreased by 61%.

Sales at Wal-Mart stores in the U.S. open at least one year have rose in line with the company’s forecast.

Sony Ericsson Mobile’s profits went down 61% with competition in prices getting stiffer.

Oil prices went back up after reaching a near seven-week low based on fear that the U.S. won’t refine enough gasoline to live up to demand.

Oil prices went back down 3% after the International Energy Agency said that demand is slowing.

Former executives of Morgan Stanley wrote a letter to employees looking for a way for them to speak out without intimidation from CEO Philip Purcell.

Morgan Stanley shares have gone up since its board of directors has approved the sale of its Discover credit card business.

With OPEC to discuss a second increase in output, oil prices have jumped to over $58 a barrel.

OPEC will be discussing a second increase in output which has caused oil prices to jump to over $58 a barrel.