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CNBC is reshuffling the team responsible for business news, with Nik Deogun departing after eight years as senior VP and editor in chief of CNBC Business Day and Satpal Brainch rejoining the company as global president. Brainch, who has held various global posts for CNBC and its parent, NBCUniversal, in recent years…

UPDATE 4:30 a.m. Thursday — Reaction:  “Is this real or The Onion?” one former Bloomberg News journalist joked, reacting to the news from Deadline. “This is the most unsurprising surprise of the year,” noted another, as word of the announcement spread through the Bloomberg samizdat. Mike Bloomberg has found a job…

This was the worst trading day so far in 2012 — the fifth consecutive day that the market was down, and the third time in the last four trading days that the Dow Jones Industrial Average fell by triple digits. The Dow’s nearly 214 point drop amounts to 1.7%, while the Dow Jones U.S. Media Index fell 2.2%. Analysts…