CNN Money: Top business headlines for June 11

    5:13 AM, Jun 11, 2013   |    comments
    • Share
    • Print
    • - A A A +

    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Tuesday, June 11.

    Wal-Mart spends $230 million on Mexican bribery investigation
    In November 2011, Wal-Mart Stores Inc. informed federal agencies that it was conducting an internal investigation into allegations involving a Mexican bribery scandal. While the internal investigation and its related activities have cost Wal-Mart at least $230 million through April 27 of this year, the move was the right one, according to legal experts who follow Foreign Corrupt Practices Act enforcement.

    Uncle Sam's outsourcing tab: $517 billion
    Uncle Sam awarded more than $500 billion in outsourcing contracts in the most recent fiscal year, paying for everything from submarines to janitorial contracts. The spending flowing to outside businesses accounts for roughly one out of every three dollars of discretionary government spending, which is everything except for entitlement programs such as Social Security or interest on U.S. debt.  The spending figure comes from the federal Office of Management and Budget's website USASpending.gov.

    Apple unveils iOS 7 in biggest update ever
    Apple CEO Tim Cook unveiled a completely redesigned iOS 7 operating system for the iPhone and iPad at his company's annual software developer conference on Monday, including a long-rumored iTunes Radio music service. The iOS 7 refresh, unveiled at the company's annual Worldwide Developers Conference, includes a slew of major design changes, as well as multitasking support for all apps. "It is the biggest change to iOS since the introduction of the iPhone," Cook said to a standing ovation from a crowd of Apple fans and developers.

    6 best new Apple products from WWDC 2013
    Tim Cook began his talk about Apple's mobile operating system by saying the company didn't just want to sell the most devices, but make gadgets people "actually use and love the most." He then unveiled a totally new version of the firm's mobile OS, dubbed iOS 7, which got a standing ovation from the crowd. (One audience member shouted out "We love you!" as Cook took the stage after a video presenting the concepts behind the new OS.)



    Most Watched Videos