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Google grows stronger in Microsoft-Yahoo fallout :: CHICAGO SUN-TIMES :: Technology (Finance, 5 articles)
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Vlingo, which develops speech-recognition technology for mobile phones, raised $20 million in April in a funding round led by Yahoo Inc. A spokesman would not say how much money Nuance's suit seeks. Ross Perot launches Web site about U.S. economic crisis' The Web site announced Monday is PerotC, a play on Perot's use of economic charts in political advertisements during his 1992 and 1996 presidential campaigns. The deal, which will help speed wireless broadband to market, boosted Nortel's stock 13 percent on a down day for most tech companies. SAN FRANCISCO Microsoft Corp. is once again trying to team up with Yahoo Inc. to challenge Internet search and advertising leader Google Inc., although at this point the renewed talks haven't escalated to another attempt to take over Yahoo. Yahoo and Google are optimistic that the government will approve their pact, in which Google's text ads will accompany some of Yahoo's search results and Web pages. Google shares gained $18.56 to close Friday at $571.51 while Microsoft shares added 83 cents to close at $29.07 an indication that some investors were relieved the world's largest software maker concluded it would be too expensive and troublesome to buy Yahoo.
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Other stories about Microsoft, Google and Users:
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Oil reaches record, retreats on Saudi vow (Finance, 13 articles)
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NEW YORK - Retail gas and diesel prices reached new records Monday, adding to the pressure on drivers planning road trips for the coming holiday weekend, while oil prices stalled following last week's record highs. The price of crude oil has hit a new high of close to $140 a barrel in New York trade, despite Saudi Arabia agreeing to increase output in July. US light crude rose to $139.89 a barrel, surpassing the previous high of $139.12 on 6 June.
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FCC head backs XM-Sirius satellite radio merger (Finance, 5 articles)
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The long-running government review of the proposed merger of the nation's two satellite radio companies took an important step forward on Monday when the head of the Federal Communications Commission announced he would circulate a plan this week to approve the deal. The chairman of the Federal Communications Commission has recommended approval of the $5 billion merger of the nation's two satellite radio broadcasters in exchange for concessions that include devoting 24 channels to noncommercial and minority programming. That condition and others, including a three-year price freeze, persuaded the commission's chairman , Kevin J. Martin, to recommend on Sunday that Sirius Satellite Radio s buyout of XM Satellite Radio Holdings be approved.
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Lehman shares rebound as Fuld pledges to execute (Finance, 6 articles)
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Wall Street started the week with a mixed finish on Monday as investors weighed volatility in oil prices against new hope for the financial sector after Lehman Brothers posted results. Lehman Brothers Holdings Inc. posted a nearly $3-billion US loss Monday, after the fourth-largest U.S. investment bank was hurt by wrong-way hedging and trading positions. The results marked the first time that Lehman Brothers recorded a loss since going public in 1994, and confirmed what the company had forecast last week.
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McClatchy Plans to Cut 1,400 Newspaper Jobs (Finance, 4 articles)
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The McClatchy Company, one of the nation's biggest newspaper chains, said Monday that it would cut its work force by 10 percent, or around 1,400 people, after having already eliminated about 2,000 jobs over 18 months. The Miami Herald plans to eliminate 250 positions, or 17 percent of its staff, and the Charlotte Observer will cut 123 positions, or 11 percent, the newspapers reported. SACRAMENTO, Calif. - McClatchy Co. said Monday it will cut 10 per cent of its workforce in a move to save $70 million a year as the newspaper publisher continues to struggle to attract advertising dollars.
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AIG replaces CEO after record losses (Finance, 4 articles)
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For the second time in three years, the board at American International Group, the giant insurance company, replaced its chief executive Sunday in the wake of its falling stock price and regulatory concerns about its accounting. Martin J. Sullivan, who was named chief executive in 2005 after an accounting scandal claimed his predecessor, was removed by the board at a closed-door meeting. Robert B. Willumstad, chairman of the company's board and a former top executive at Citigroup, was named as Mr. Sullivan's successor, A.I.G. said in a statement.
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blaster@cs.columbia.edu
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