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Apple is going to have one of its big product events to introduce the iPhone 5 on October 4, John Paczkowski at All Things D reports. New CEO Tim Cook will be in charge of the event, just like former CEO Steve Jobs used to run events. This will be an interesting test for Cook since he's never done the big product roll out before. Paczkowski says he will be aided by other Apple executives who will also make presentations on stage.

David Zaslav, CEO of Discovery Communications, called his company's licensing pact with Netflix an 'economic win' and also said there's a disconnect between the strong advertising market and the overall economic malaise.

Apple plans to unveil the iPhone 5 on October 4, and sell it in stores a few weeks later. The Cupertino, Calif.-based company's CEO Tim Cook will introduce the next iPhone, according to AllThingsD. Analysts speculate the phone may be made available as early as one week after it?s revealed.

Apple's new CEO Tim Cook will announce the much-anticipated iPhone 5 on October 4, according to All Things D. Rumors and hints about the iPhone 5 have circled the internet for months, but a late September or early October date has always been anticipated. All Things D cited anonymous sources "close to the situation." While anonymous sources like this usually are greeted with a healthy skepticism, we've expected a fall announcement long enough that the sources seem credible. After all, Deutsche Telekom is already taking preorders for the new smartphone.

Directors of the company were considering Meg Whitman, the former chief of eBay, to replace Léo Apotheker, sources said.

In a post on The Netflix Blog that went up Sunday night, the company's CEO, Reed Hastings, announced that Netflix would split its DVD-by-mail service and its streaming-video service into two companies. The new DVD-only company, called "Qwikster," will be completely separate from the streaming business. Hastings also expressed contrition for the way the company rolled out its recent price hike, which alienated many customers.

Oswald Gruebel, the chief executive of UBS, has dismissed calls for his resignation as politically motivated, even as the Swiss banking giant raised its estimated loss by a rogue trader to $2.3 billion.

Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.

It's not every day you read about one top-level executive asking another where his balls are. But in the end, former Yahoo CEO Carol Bartz lived up to her reputation for "salty language" and candid management style.

Chinese e-commerce giant Alibaba Group Holding Ltd. is aiming to handle one trillion yuan ($157 billion) of transactions in 2012 on its Taobao consumer sales platforms, the company's Chairman Jack Ma said Saturday.