Yahoo can not sit silent when its rivals, Google and Microsoft are investing heavily in the online advertising business. The search giant has geared up for yet another acquisition barely a few months after its purchase of Right Media. This time, it is the behavioral ad firm, BlueLithium. The deal is fixed at around $300 million in cash, reports Reuter.
Dell’s second quarter profit jumped 46%, on stronger sales of enterprise products and services, improved average selling prices and favorable component costs.
BAA, the main operator of Britain’s airports, is planning to cut about 2,000 jobs and aiming to sell one or more of its seven UK airports.
The firm, which was bought by Spanish firm Ferrovial last year, to streamline the services, company announced to reduce the workforce as part of a cost-cutting drive.
NBC Universal agreed to buy Sparrowhawk Media, which owns the channels, from the private equity firms 3i and Providence Equity Partners.
With the acquisition NBC Universal will double the size of its cable operations outside the United States. Sparrowhawk, the owner of the Hallmark channel, with its 18 channels will be integrated into NBC’s global networks division, bolstering its channel offering to 30 and bringing in additional 60m subscribers.
Rio Tinto, the world’s third largest miner by revenues, has won U.S. antitrust authority’s approval for its $38.1bn takeover of Alcan Inc.
Woolworths is constantly making every year profitable by cutting its costs meticulously through automated ordering and centralized distribution networks.
For June 2006 to 2007 fiscal year, Woolworths’ net profit jumped 27.5% to a record $1.026bn - slightly higher than the expected. Firm’s aggressive pricing strategy put its sales up by 12.6% to $42bn, whereas earning for the second half increased 27% to $598.4m.
Gap Inc successfully posted a 19% rise in quarterly earnings despite sluggish sales at stores open more than a year, helped by cost-cutting and announced plans for a $1.5bn share buyback program.
HSBC chance to float over to South Korean banking business is facing obstruction from unions as negotiations to secure the $4.5bn deal is feeling heat.
HSBC Holdings Plc is eager to enter in South Korean banking business and needs a bigger network to compete with its archrivals Citigroup and Standard Chartered. After DBS’s reluctance to purchase shares in the Korea Exchange Bank from the Lone Star, HSBC Holdings is eying at majority stakes and ready to pay $4.5bn for 51% shares.
The ongoing credit crunch, generated by the US subprime mishmash can trigger upheaval for the Royal Bank of Scotland-led consortium to finance the $95.51bn offer to ABN Amro.
Due to lack of liquidity in the market, hedge funds are believed to have sold down their ABN holdings, which raise the apprehension for consortium to raise $88.97bn cash for the funding.
