From the Wires

Washington Business Journal: LivingSocial, a social commerce company that has raised more than $800 million in funding, entered 2012 with a staff of roughly 5,000. Now it says it will lay off 400 in the U.S.

Chicago Tribune: As share prices plummet, Groupon Chief Executive Andrew Mason says he would step down if necessary.

BGR: Yahoo CEO Marissa Mayer made waves when she announced she would be providing all the company’s employees with a smartphone of their choice, unless they wanted a Blackberry.

New York Times: President Obama called on Congress to extend Bush-era tax cuts for all incomes under $250,000.

Associated Press: Microsoft unveiled new Bing ads making fun of rival Google as a terrible holiday shopping guide.

Washington Post: Walmart shirks responsibilty in its treatment of its workers, and how it handled the deadly fire in Bangladesh.

Oregonian: With the Powerball jackpot hitting at least $500 million — a new record — ticket sales for today’s  drawing have soared in Oregon and around the country.

Chicago Tribune: There has been no Powerball winner since Oct. 6, and the jackpot already has reached a record level for the game.

PC World: Facebook announced privacy changes over the Thanksgiving holiday. (Sneaky? You decide.) And as expected, those who are in the business of worrying about privacy issues are sounding the alarm.

Bloomberg BusinessWeek: Shoppers are using computers and mobile devices to purchase holiday gifts on Cyber Monday, pushing sales up 20 percent.