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San Jose Mercury News
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Jan 30, 08 5:24 PM CST
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Yahoo and AT&T announced a new alliance today in which Yahoo will provide search and advertising on AT&T’s mobile phones, the San Jose Mercury News reports. AT&T in turn will get their att.net web portal redesigned by Yahoo, through which their customers will get access to Yahoo’s services at no additional charge.
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Wall Street Journal
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Jan 30, 08 3:22 PM CST
(Newser) -
Optimism on Wall Street about Clear Channel's $19 billion equity buyout is fading and its share price is spiraling lower as the deal, more than a year in the making, appears to be unraveling—done in by regulatory issues, credit worries, and deteriorating industry conditions, the Wall Street Journal reports.
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New York Times
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Jan 29, 08 8:12 AM CST
(Newser) -
Owners of the Chicago and New York commodities exchanges are in preliminary talks that could end in an $11 billion merger of the two largest commodities markets in the US, reports the New York Times . NYMEX Holdings shareholders would receive $36 and 0.1323 of a share of CME's common stock in exchange for each NYMEX share.
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Wall Street Journal
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Jan 28, 08 9:39 AM CST
(Newser) -
Sears Holdings CEO Aylwin Lewis will depart as part of company-wide restructuring, the Wall Street Journal reports. Sears stock has plummeted 40% since July, and the retailer's sales were down 3.5% this holiday season. The company, which was created when Kmart Holding Corp. took over Sears in 2005, last week announced a plan to decentralize the chain of command, up capital spending by $200 million, and reformat stores.
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ABC News
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Jan 25, 08 2:25 PM CST
(Newser) -
After miraculously withstanding the dot-com crash, Yahoo is again poised to fall face first off a virtual cliff, with its plummeting stock hardly masked by national economic disrepair. But despite hemorrhaging users to Google, the company is still a huge presence on the Web, with 3 billion daily hits. So "what has gone wrong at Yahoo?" asks ABC's Michael S. Malone.
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Forbes
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Jan 25, 08 12:00 PM CST
(Newser) -
After months of playing hard-to-get, UK brewer Scottish & Newcastle has agreed to a $15.2 billion takeover bid from Carlsberg and Heineken. The offer tops a bid rejected in March by 11.1%, Forbes reports. Experts expected S&N to squeeze out a better deal, especially after it filed a lawsuit to pressure Carlsberg. S&N’s stock rose 2.1% on the announcement; Carlsberg's dropped 4.1%.
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CNN
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Jan 23, 08 11:42 AM CST
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The US Securities and Exchange Commission has opened an inquiry into possible insider trading surrounding last year's takeover of Dutch bank ABN Amro. Holland's Financieele Dagblad r eports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN stock before and during the takeover battle.
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Wall Street Journal
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Jan 17, 08 6:09 PM CST
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The Big Board is about to get a bit bigger: The parent company of the New York Stock Exchange agreed today to snap up its smaller rival, the American Stock Exchange, for $260 million in stock, the Wall Street Journal reports. The deal ends a rivalry that began during the colonial era and unites two towers of the American financial system.
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Wall Street Journal
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Jan 17, 08 12:59 PM CST
(Newser) -
Recent acquisitions by Sun Microsystems and Oracle could be the opening round of new Silicon Valley deal-making, the Wall Street Journal reports, as tech companies worried about a US economic slowdown seek to strengthen their positions. Smaller companies struggling to stay afloat are tempting targets; bigger fish also want to invest in building web-based software and services—a still-growing sector.
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MarketWatch
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Jan 16, 08 6:07 PM CST
(Newser) -
Sun Microsystems revealed two surprises today: The computer company showed quarterly earnings that have nearly doubled from a year ago, and it said it would buy open-source software developer MySQL for $800 million in cash and $200 million in assumed options. Sun’s earnings in the second quarter—which ended Dec. 30—could reach $265 million, beating 2006’s $133 million mark, MarketWatch reports.
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Bloomberg
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Jan 16, 08 7:51 AM CST
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Business software maker Oracle continued its yearlong buying spree, closing a contentious deal with middleware maker BEA Systems after raising its offer to $8.5 billion, or $19.38 a share, Bloomberg reports. In October, Oracle offered BEA $6.7 billion, or $17 per share, and was rejected. Instead BEA, one of the Silicon Valley's last midsize independents, demanded what Oracle termed an "impossibly high" $21.
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Wall Street Journal
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Jan 15, 08 2:05 PM CST
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Fans who once turned to scalpers for last-minute seats can now hit up ... Ticketmaster? In a sure sign of the online ticket resale boom, the sports and entertainment behemoth will buy TicketsNow, the second-largest online ticket reseller, reports the Wall Street Journal . "Clients who five years ago were not willing to allow a ticket to be resold now want a piece," said Ticketmaster's CEO.
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New York Times
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Jan 11, 08 9:51 PM CST
(Newser) -
Yahoo's falling core value threatens the company's future and is ringing alarm bells for investors, the New York Times ’ Saul Hansell warned in his "Bits" blog. The central business of Yahoo.com, excluding subsidiary holdings, is worth less than half of its current share price, and a paltry 7% of Google’s $200 billion market value, according to one analyst quoted by Hansell.
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Wall Street Journal
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Jan 11, 08 8:00 AM CST
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Airline merger talks are in the air, with Delta Air Lines executives expected to get the go-ahead from their board today to court Northwest or United. Delta’s matchmaking efforts began with exploratory talks in December, the Wall Street Journa l reports. The news prompted airline stocks to soar—Delta was up 18%, Northwest rose 32% and United parent UAL jumped 24%.
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Wall Street Journal
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Jan 10, 08 3:21 PM CST
(Newser) -
Bank of America is in advanced talks to buy troubled Countrywide, the Wall Street Journal reports. The Charlotte-based bank could be on the brink of acquiring the US' largest mortgage lender, whose market value has plummeted to $3 billion—about 2 months' profit for BofA—as foreclosures continue to dent profits. It's still unclear if the Federal Reserve would approve of an even-more-giant BofA, the second largest bank in the nation.
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MarketWatch