Ringing up

AT&T reported a re cord third quarter, post ing revenue of $31.58 bil lion, thanks in large part to its best-ever total of 5.2 million iPhone activa tions.

McProfits

McDonald’s posted a 10 percent gain in the third quarter as net income rose to $1.39 billion, or $1.29 a share, crediting new menu items in the US and abroad.

Social fund

Social fundAmazon, Facebook, Zynga, Com cast and Allen & Co. are all investing in the sFund, Kleiner Perkins’ new $250 million investment fund for social network related businesses, the Financial Times reported.

Auto recall

Toyota is recalling 1.53 million Lexus, Avalon and other models for brake-fluid and fuel- pump problems, the lat est in a string of quality lapses.

AIA IPO

AIA, the Asian life in surance arm of AIG, raised $17.9 billion by pricing its Hong Kong IPO at the top of an indi cated range, sources said, due to heavy demand for one of Asia’s best known industry brands. The IPO will value AIA at $30.5 billion at the top end and AIG will continue to hold 41.6 percent.