UBS cannot arbitrate vs Nasdaq over Facebook IPO: court 12:07pm EDT

NEW YORK (Reuters) - A divided U.S. appeals court rejected UBS AG's bid to force Nasdaq OMX Group Inc to arbitrate a dispute over the exchange operator's alleged "catastrophic mismanagement" of Facebook Inc's $16 billion initial public offering.  Full Article

Pirate Bay co-founder sentenced to 42 months in jail in Denmark 12:26pm EDT 

COPENHAGEN (Reuters) - A co-founder of the Swedish file-sharing website The Pirate Bay was sentenced on Friday to three and a half years in prison, in what the prosecutor called Denmark's biggest-ever hacking case.  Full Article  

Leaner Sony gains smartphone lift despite its own mobile malaise 9:13am EDT 

TOKYO (Reuters) - Sony Corp posted a smaller than expected second-quarter operating loss on Friday, hailed by its finance chief as proof that the Japanese group's restructuring program is paying off.  Full Article