Brazil's National Institute of Industrial Property rejected Apple's (AAPL) request to register the iPhone name in that country, setting up a potentially costly legal dispute in one of the world's fastest-growing smartphone markets, reports the Wall Street Journal. Apple's trademark application was denied because Brazilian electronics maker IGB Eletronica SA, or Gradiente, already owned rights to the name.
Stocks fell at the open on Friday, putting Wall Street on track for its first weekly decline since mid April, amid …