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Archive for May 15th, 2008CBS to buy CNET, boost Internet presencePosted by UK Economy News
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15May 08 Television titan CBS Corp. announced plans Thursday to ramp up its technology side by buying troubled Internet news firm CNET Networks for 1.8 billion dollars in cash.
Read full story World Bank, Standard Chartered launch tiny loan plan for poorPosted by UK Economy News
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15May 08 The World Bank and British-based bank Standard Chartered said Thursday that they had teamed up to expand the microfinance, or tiny loans, to impoverished borrowers in Africa and Asia.
Read full story Comments Off Dior CEO named head of German fashion house BossPosted by UK Economy News
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15May 08 Claus-Dietrich Lahrs, the CEO of leading French fashion house Christian Dior Couture, was Thursday named head of German ready-to-wear company Hugo Boss, a statement from that company said.
Read full story Comments Off Icahn to battle Yahoo to accept Microsoft bidPosted by UK Economy News
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15May 08 Financier Carl Icahn launched a proxy battle on Thursday to force Yahoo to reopen buyout talks with Microsoft , saying the Yahoo board had acted "irrationally" in refusing its $47.5 billion (24.4 billion pound) offer.
Read full story Comments Off US stops short of branding China for currency manipulationPosted by UK Economy News
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15May 08 The United States Thursday accused China of keeping its yuan currency "substantially undervalued," but stopped short of branding Beijing a currency manipulator.
Read full story Comments Off Icahn moves to replace Yahoo board, restart Microsoft talksPosted by UK Economy News
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15May 08 Billionaire corporate raider Carl Icahn announced a bid Thursday to unseat the board of Yahoo and reopen merger talks with Microsoft, which Icahn said had been "completely botched" by the Internet firm.
Read full story Comments Off Investors laud Icahn’s Yahoo move and promise supportPosted by UK Economy News
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15May 08 To many Yahoo investors still angry that a takeover bid by Microsoft fell apart, activist investor Carl Icahn is a knight in shining armour mounting a proxy fight they expect to support.
Read full story Comments Off Canadian union reaches tentative deals with GM, ChryslerPosted by UK Economy News
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15May 08 The Canadian Auto Workers union (CAW) has reached new tentative labor agreements with General Motors and Chrysler that include wage freezes and cuts in some benefits, the union said Thursday.
Read full story Comments Off Oil prices dip; dozens killed in Nigerian pipeline blastPosted by UK Economy News
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15May 08 Oil prices declined Thursday after soaring close to record highs in volatile trade stoked by concerns about stretched global energy supplies, traders said.
Read full story Comments Off Paulson hedge fund backs Icahn slate for YahooPosted by UK Economy News
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15May 08 Paulson & Co., the $30 billion (15.4 billion pound) hedge fund that recently built up a stake of 50 million shares of Yahoo , said it intends to support a dissident board slate put forth on Thursday by investor Carl Icahn.
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