New Jobs: President Obama is expected this week to name Leon Panetta, the director of Central Intelligence, as defense secretary and Gen. David H. Petraeus, the top American commander in Afghanistan, as director of the C.I.A., according to The New York Times.
Food Safety: When Congress revamped food-safety laws last year, small farmers and food producers won a victory when they were excluded from many of the new rules. Now, as the Food and Drug Administration implements the new Food Safety Modernization Act, the small businesses are hoping they aren't snagged by the new rules anyway, The Wall Street Journal reports.
Big Deal: Johnson & Johnson is to buy Swiss medical devices maker Synthes Inc for 19 billion Swiss francs ($21.6 billion) in its largest ever buy, boosting its orthopedic business and reshaping the industry, according to Reuters.
Beyonce's Game: A video game maker says Beyonce didn't play fair in a deal for a game structured around her.Gate Five LLC sued the Grammy Award-winning singer Tuesday in New York. The lawsuit says she made a lucrative agreement in June for a game called "Starpower: Beyonce," then demanded a new deal and abruptly abandoned the project, according to the Huffington Post.
Compensation Suit: Dow Kim, a former Merrill Lynch & Co. head of trading and investment banking, was sued over $2 million in compensation claimed against the Diamond Lake Investment Group hedge fund venture that he started and dropped, Bloomberg reports.