1. COMPETITION

    Hewlett-Packard to Acquire Palm

    Can a computer company break into the tough smartphone market? Hewlett-Packard is rising to the challenge, with its acquisition of struggling cell phone company Palm, which makes the Palm Pre and Palm Pixie. The $1.2 billion deal comes after Palm failed to attain a healthy stake in the market and grab customers from rivals Apple and Research in Motion. Shares of the company had tumbled 52 percent in the past year.

    Read it at DealBook