The Securities and Exchange Commission (SEC) is examining whether deals put together by other banks may have misled investors. The widening investigation comes in the wake of the $1 billion lawsuit filed by the SEC against Goldman Sachs. The SEC says Goldman Sachs created and sold collateralized debt obligations (cdo's) based on subprime mortgages without disclosing that hedge fund Paulson & Co. had helped pick the underlying securities and bet against the vehicles.

Google continues to hoover up online sales beating first quarter expectations. Google Inc. said first quarter income rose to $1.96 billion, or $6.06 a share confirming investor expectations that online advertising revenue would be one of the first sectors to pick up in a post recession bounce.

China is busy buying up premium brands again. Ford has just sold Volvo to the Chinese car maker Geely. The Zhejiang Geely Holding Group will take over the Swedish car brand and allow it to operate largely independently according to the company. It marks another step in China's attempt to increase brand awareness of domestic automakers and the technological capabilities of its auto industry.

Just what was Lehman Bros. playing at? A report into the collapse of the bank for the bankruptcy court has found numerous and serious errors of judgement and portrays the bank's Chief Dick Fuld as incompetent.