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Business News

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Wachovia CFO Wurtz to leave (Reuters)
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Jobless claims jump as housing market gets weaker (AP)

AP - Two cornerstones of the economy Â— jobs and housing Â— sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.

MOUNTAIN VIEW, California (Reuters) - Google Inc expects to launch new products for its YouTube Web video service in the next few months and sees reason for closer cooperation with Yahoo Inc, Google Chief Executive Eric Schmidt said on Thursday.
Schmidt has said getting the video sharing site to make money is the Web search company's top priority for the year. He did not give details of the products, however, and they are not even in initial, or beta, testing.
At the company's annual shareholder meeting, Google co- founder Sergey Brin said YouTube and DoubleClick, an online advertising company bought by Google earlier this year for $3.1 billion, are still small businesses compared with its core search and advertising business.
"They both have potential, but for it to be a sizable part of our revenue, you're going to have to wait at least a couple of years," said Brin in response to a question about when those acquisitions would make a significant contribution to the company's bottom line.
Google bought YouTube for $1.6 billion in 2006.
The Web search leader played a large role in the takeover battle between Microsoft Corp and Yahoo. During a two-week test, it sold search advertisements on rival Yahoo last month as part of Yahoo's attempt to find an alternative option to Microsoft's offer.
Schmidt said the trial run provided good reason for the companies to discuss cooperation, but there was no deal yet.
"We view the test as successful," he told reporters before the Web company's annual meeting. "That's a good basis to talk to Yahoo some more."
The Google CEO, speaking later at the shareholder meeting, said the company will continue to growth faster outside of its home market. Google generated 51 percent of its revenue outside the United States in the March quarter, but Schmidt said he expects that figure to grow over time.

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Software News

Hasbro Orders Facebook to Remove 'Scrabulous' (PC Magazine)
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Attack Code Released for New DNS Attack (PC World)
PC World - Attack code has been released for a major flaw in the Internet's DNS software.

Facebook to help some programmers, punish others (AP)

AP - Facebook Inc. is introducing more tools to help the software applications fueling the online hangout's popularity and is promising to intensify its efforts to weed out programs that violate its rules for protecting users' privacy.

Facebook expands winning open platform formula (AFP)

AFP - Facebook founder Mark Zuckerberg painted a vision of an Internet future with the website in its soul to a faithful throng of software developers at the Internet firm's annual "F8" conference..

Microsoft's Online Woes Hint at Larger Vulnerability (PC World)
PC World - Microsoft has built its massive software business by watching other companies take the lead in emerging technology markets and...

Art shock troops mock Russian establishment - 23, Jul 2008

China arrests dissident in pre-Olympics crackdown - 23, Jul 2008

Judge rules against YouTube star in divorce court - 22, Jul 2008

Legg's Miller backs Yahoo in proxy war with Icahn - 19, Jul 2008

Russia's Rambler sells ad unit to Google - 18, Jul 2008

Walmart.com ending line of trendy women's clothes - 18, Jul 2008

Former AOL executives back documentary film site - 17, Jul 2008

Nintendo plans 60-instrument "Wii Music" - 16, Jul 2008

Microsoft and Yahoo trade barbs over talks breakdown - 16, Jul 2008

Stolen bank data gets cheaper on Web: report - 16, Jul 2008