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Ichan Asks Yahoo to Sell to Microsoft for $49.5 Billion
2008-06-08 15:51:00
Carl Ichan who is looking to seal a takeover offer from Microsoft before Yahoo 's annual board meeting on August 1st, has asked Yahoo to publicly offer to sell itself to Microsoft for $49.5 billion or $34.375 per share and to ditch the employee compensation package valued at $2.4 billion. Yang, current CEO at Yahoo, is currently in a tough spot over previous negotiations; however, this announcing the deal may allow him to save face and please the majority of Yahoo's stockholders. Yang may still push to keep the employee compensation package making the offer $51.9 billion. This way everyone gets what they want from the deal, as long as Microsoft agrees to that high of an offer, but either way it looks like in just a few months we will finally see Microsoft acquire Yahoo.
More About: Sell , Yahoo! , Billion

iPhone to be Subsidized
2008-06-08 15:40:00
The FinancialTimes has confirmed rumors that the iPhone will be subsidized. This will mean that carriers will share part of the initial cost of the iPhone. For AT&T, it is believed that they will pay $200 towards the initial cost of the iPhone and that the 3G iPhone will cost $399, making the total price for next gen iPhone to be $199 for consumers.
More About: Iphone

Comcast Aiming for 100 Mbps by 2010
2008-06-07 16:08:00
Comcast is looking to ramp up its cable technology in order to compete with fiber company's. It has been testing docsis 3.0 a technology that will allow it significantly more bandwidth per node. Comcast is planning to offer 100 megabits in 20 percent of its market by the end of 2010.
More About: Comcast , Mbps

Amazon's Site Down for Over 2 Hours
2008-06-07 16:06:00
Amazon's website was down for over 2 hours due system issues. Just after 1 p.m. eastern, the company's online site went down and remained down until 3 p.m. eastern. Shawn White, Amazon's keynote director, stated that an error in the website configuration may have been the culprit for the blackout.
More About: Site , Hours

3G iPhone to Support Both HSDPA and GPS
2008-06-07 06:21:00
According to sources, a leaked firmware has given away the secrets about Apple's new 3G iPhone, which is expected to be released Monday. Looking into the iPhone's firmware reveals support for GSM, tri-band HSDPA , and GPS. This will make the new iPhone compatible with just about every wireless market in the world.
More About: Iphone , Support

Continental Airlines Cuts 3,000 Jobs
2008-06-07 06:15:00
Continental Airlines announced Friday that it will need to cut 3,000 jobs and ground its 67 Boeing aircraft. As airliners cope with rising fuel costs, they have had to take drastic measures in order to maintain profitability.
More About: Jobs , Continental , Cuts

Unemployment Rises to 5.5%
2008-06-07 06:09:00
For the fifth month in a row, the employment rate in the U.S. rose. Jobs dropped by 49,000 just after a 28,000 drop last month. The Labor Department issued a report in Washington stating that the jobless rate increased by a half percentage point to 5.5% much higher then analysts were forecasting.
More About: Unemployment

Oil Rose Nearly $10.75 a Barrel Today
2008-06-07 06:07:00
Oil prices climbed nearly $10.75 today, as economic data further decreased the value of a dollar. The record one-day increase led oil to close over $138.
More About: Today , Rose , Barrel

Verizon to Buy Alltel for $28.1 Billion
2008-06-06 02:39:00
Verizon Wireless has made a huge bet with Alltel in hopes to gain market share in the wireless market. Verizon has acquired finance to buy Alltel for near $6 billion, and it will assume $22.2 billion of outstanding Alltel debt. This will bring Verizon's total debt to $63 billion. High debt is common in the telecommunications sector with AT&T having $73.5 billion in total debt.
More About: Verizon , Billion

Nvidia to Take on Intel
2008-06-06 02:34:00
As AMD continues to struggle, Nvidia has just recently entered into the CPU arena with the release of its Tegra platform. The new platform competes directly with Intel as the two companies hope to gain the mobile market.

Adobe Takes a Big Risk by Releasing Flash Support in Acrobat 9
2008-06-05 03:25:00
Adobe is planning to add the ability to add Flash content to its popular Acrobat format. This will allow users to embed animation and video directly in their PDF documents; however, critics are concerned that adding Flash to Adobe's PDF format is a steer in the wrong direction. PDF is commonly used in the industry as it capable of being printed out the same way it is viewed on the screen; however, with animations the hard copies are will no longer be an accurate representation of the digital file.
More About: Adobe , Support , Risk

Apple iPhone to go on Sale in Japan
2008-06-05 03:21:00
Softbank Corp announced Wednesday that it has been granted the right to start selling the Apple iPhone. Softbank Corp is the third largest mobile carrier in Japan , and is expected to selling the second generation iPhone in Japan later this year.
More About: Iphone , Sale , Apple iphone

Bernanke Says He's Done Cutting Rates
2008-06-04 03:38:00
Bernanke indicated that he is done cutting interest rates for the time being and is now watching the dollar for inflationary concerns. The dollar has declined nearly 16 percent against the euro over the past year. The Fed is now putting its foot down and officially stating that they are no longer going to let the dollar fall further in value against the euro.
More About: Rates , Bernanke , Cutting

General Motors To Close 4 Plants
2008-06-04 03:12:00
General Motors announced plans to close 4 plants affecting nearly 8,350 workers, as part of its refocusing effort. The company is now changing its business model to focus on new smaller cars as opposed to its core products, pickup trucks and SUVs. All 4 of the plants closing manufactured pickup trucks and SUVs. General Motors also stated that its Hummer would either be sold off or get a remake. The company is taking drastic measures after poor sells brought on by gas now nearly at $4 a gallon.
More About: Plants , General , Close

Icahn to Seek Removal of Yahoo's CEO at Aug 1st Shareholders Meeting
2008-06-04 03:05:00
Yahoo has rescheduled its annual shareholders meeting to Aug 1st and reiterated its recommendation for shareholders to not vote for Icahn 's proxy fight. If the vote is successful, Icahn plans to remove current CEO Yang for not accepting Microsoft's bid. Icahn stated that he believes that Microsoft no longer trusts Yang, and that the company will no longer make a new offer unless Yang and the board are removed.
More About: Shareholders , Seek , Meeting

Wachovia Hits 52-Week Low as CEO Steps Down
2008-06-04 02:56:00
At the request of the board, Ken Thompson has retired from his position as chief executive officer. Much of Wachovia 's current financial issues are with his decision to acquire Golden West Financial Corp in 2006 exposing the bank to an onslaught of bad housing loans. The stock dropped over 6 percent immediately following the news.
More About: Week , Hits , Steps

Apple's 3G iPhone to be both Thiner and Cheaper?
2008-06-04 02:53:00
According to a rumor posted Today, Apple's new iPhone may be both thiner and cheaper. There has been several past rumors that Apple's 3G iPhone will be subsided by AT&T making the final retail price $199 and $299. The rumor also indicates that the iPhone will be 22% thiner and may possibly include a longer battery life. Rather the rumors are true or not will be answered last week as Apple's Developer Conference is set to launch on June 9th.
More About: Iphone

Nivdia Launches Mobile CPU
2008-06-03 03:32:00
Nvidia launched a new line of processors for mobile devices named Tegra. The new processors will feature a 800-mhz cpu, a high definition video processing unit, an imaging unit, an audio processor, and a low powered Geforce GPU all in one chip. Nvidia says that devices utilizing the Tegra will be able to play 130 hours of audio or 30 hours of HD video playback on a single charge.
More About: Mobile

Real-Time Online Stock Quotes to be Free for Everyone
2008-06-03 03:29:00
Major financial sites including Yahoo Finance have started to offer real-time stock quotes for its visitors. Nasdaq is also preparing to similar offer real-time stock quote services in Europe. With the changes now anyone with an Internet connection will be able to monitor stock prices in real-time as apposed to the normal 15 to 20 minute delay.
More About: Time , Free , Quotes , Stock , Online

Microsoft Offered up to $40 a Share for Yahoo
2008-06-03 03:27:00
According to court papers, Microsoft offered up to $40 a share for Yahoo , which is currently trading at $26. Yahoo's board members are facing lawsuits over not accepting Microsoft's bid, and with Yahoo now trading at $26 it is not looking good for Yahoo's board members.
More About: Share , Yahoo!

U.S. Treasury Chief Says No Quick Fix for Oil
2008-06-01 16:25:00
Henry Paulson, U.S. Treasury Secretary, reported that there is no quick fix for oil prices as prices are being determined due to supply and demand. It is no secret that the world's demand for oil has drastically increased as countries including China and India are becoming developed industries.
More About: Chief , Quick

Experts No Longer Predicting Recession
2008-06-01 16:19:00
A recession is defined as two consecutive periods of negative GDP growth. As the Federal Reserve has sliced interest rates, as the dollar has dropped significantly fueling exports, and as tax-rebate checks are likely to stimulate the economy, the GDP continues to see growth. The GDP rose 0.9 percent in the first quarter. It now looks like may not enter a recession despite a falling economy. This has not occurred since the government began tracking quarterly GDP in 1947.
More About: Experts , Recession

Google to Release Application Store for Android Platform
2008-05-31 15:23:00
At Google 's IO Conference there was news reported about the possibility that Google may open its own online store for Android applications. The store is great news for developers looking to distribute their applications. Andy Rubin, the project leader for Google, stated "it would be a great benefit to the Android community to provide a place where people can go to safely and securely download content and where a billing system would allow developers to get paid for their effort. We wouldn't have done our job if we didn't provide something that helps developers get distribution."
More About: Store , Release , Application , Platform

Kodak to Raise Prices by 20 Percent
2008-05-31 01:43:00
Kodak announced that is going to need to rise its prices across the board by 20 percent on higher material costs. The higher prices will go into effect on July 1st, and should help the company offset its higher costs for aluminum, silver, and oil.
More About: Kodak , Prices

The Federal Government Says Economy Grew 0.9 Percent in First Quarter
2008-05-30 03:29:00
Despite worries of a U.S. recession, the Bureau of Economic Analysis reported that the economy grew by 0.9% during the first quarter. The small increase was due to slightly higher consumer spending and a higher number of exports while the number of imports was lower.
More About: Economy , Government , Quarter , Grew , Federal Government

Comcast.net Hacked
2008-05-30 03:19:00
Comcast's subscriber's website was briefly hacked overnight. According to broadbandreports.com, Comcast's site was hacked at roughly 11:00 p.m. eastern. The hackers defaced Comcast's portal with a note saying the hackers had "RoXed" Comcast.
More About: Comcast , Hacked

Microsoft Now Discussing Partnership Plans with Yahoo
2008-05-29 03:27:00
After failed takeover bids and Ichan attempting to vote off Yahoo 's board of directors, Microsoft and Yahoo are still in negotiations. This time the two companies are discussing the idea of a potential partnership agreement. It is clear that Microsoft is indeed still interested in Yahoo and the prospects that Yahoo will be able to bring in additional online revenues for Microsoft.
More About: Plans , Yahoo!

Nissan Announces Plans to Build New Auto Plant in China
2008-05-29 03:24:00
Nissan is next in a line of companies expanding its operations in China . Today Nissan announced plans to build a new plant in China in order to boost vehicle sales in one of the fastest growing economies in the world. The new plant located in Henan is expected to produce 120,000 light weight vehicles a year.
More About: Nissan , Auto , Plans , Build

Dell Found Guilty of Fraud
2008-05-28 03:00:00
A court in New York has found Dell engaged in fraud, by luring consumers with no interest or no payment financing options, but then its financial arm would then charge higher rates. The court is expected to hold further meetings to discuss how much Dell will be required to pay to its customers under the lawsuit.
More About: Fraud , Guilty

China Mobile Loses $26 Billion in Market Value
2008-05-26 16:19:00
China Mobile , the largest wireless carrier in China, dropped nearly 8.2 percent Monday as the government released plans to merge smaller operations in order to increase competition. The 8.2 percent drop, the largest drop for the company in over six years, instantly lost the company $26 billion dollars in market cap. Under the government plan, China's two largest fixed-line companies will also become wireless carriers directly competing with China Mobile.
More About: China , Market , Billion