Finance News
Finance News Friday May 16th 2008



Icahn's Yahoo fight puts Microsoft in driver's seatIcahn's Yahoo fight puts Microsoft in driver's seat
(Reuters: Fri, 16 May) Two weeks after Microsoft Corp abandoned its pursuit of Yahoo Inc , a proxy fight launched by activist investor Carl Icahn has put Microsoft in the driver's seat.


Oil's fall, techs' gain drive stocks higherOil's fall, techs' gain drive stocks higher
(Reuters: Thu, 15 May) Stocks rose in light trading on Thursday, pushing the S&P 500 to its highest close since January, as a pullback in oil prices eased concerns about inflation and a battle to control Yahoo Inc helped the tech sector.


CBS to buy web publisher CNET for $1.8 billionCBS to buy web publisher CNET for $1.8 billion
(Reuters: Thu, 15 May) CBS Corp said on Thursday it would buy web media company CNET Networks Inc for about $1.8 billion to boost the television broadcaster's reach across the Internet.


Berkshire holds no Ameriprise shares: SEC filingBerkshire holds no Ameriprise shares: SEC filing
(Reuters: Thu, 15 May) Berkshire Hathaway Inc (BRKa.N), billionaire Warren Buffett's investment company, no longer held any Ameriprise Financial Inc stock as of March 31, according to a U.S. regulatory filing on Thursday.

Senators say have accord on housing rescueSenators say have accord on housing rescue
(Reuters: Fri, 16 May) Leaders of the U.S. Senate Banking Committee said on Thursday they have agreed to the underpinnings of a housing rescue plan that will create a federal backstop for failing loans.


Japan's economy grows at 3.3 pct annual pace in 1QJapan's economy grows at 3.3 pct annual pace in 1Q
(AP: Fri, 16 May) Japan's economy grew at a stronger-than-expected 3.3 percent annual pace in the first quarter, racking up its third consecutive quarter of growth.


French bank Natixis reports profit slump on another subprime hitFrench bank Natixis reports profit slump on another subprime hit
(AFP: Thu, 15 May) French investment bank Natixis said on Thursday its first-quarter earnings plunged 88 percent after it had to take further write-downs on its exposure to the US subprime home loan crisis.


Macy's to have FAO Schwarz boutiques in stores: reportMacy's to have FAO Schwarz boutiques in stores: report
(Reuters: Fri, 16 May) Macy's Inc is expected to announce plans on Friday to open specialty U.S. toy retailer FAO Schwarz's toy boutiques in its 685 stores that carry children's clothing, the Wall Street Journal said.




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