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Business News
Stocks drop on financials, oil rebound (Reuters)

Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - Stocks fell in skittish trading on Wednesday, led by financial services company shares, while rebounding oil prices fed concerns about the toll of higher energy costs on business and consumer spending.
Merrill asset sale size depends on second quarter loss (Reuters)

Merrill Lynch Chief Executive Officer, John Thain, poses before a news conference in Mumbai May 7, 2008. Merrill Lynch is looking at selling stakes in BlackRock Inc or Bloomberg LP, and the size of the sale will depend on the size of the investment bank's second quarter loss, a person briefed on the matter said Wednesday. (Punit Paranjpe/Reuters)Reuters - Merrill Lynch & Co will determine exactly how much of its stakes in BlackRock Inc and Bloomberg LP to sell based on how deep its second quarter loss is, a person briefed on the matter said on Wednesday.
IMF gloomy on growth, warns on inflation (Reuters)

International Monetary Fund Managing Director Dominique Strauss-Kahn gives a speech during the Brussels Economic Forum in Brussels May 15, 2008. It is hard to know how far the global financial crisis still has to run, with the extent of further credit losses hinging on what happens to the U.S. housing sector, Strauss-Kahn said on Wednesday. (Thierry Roge/Reuters)Reuters - It is hard to know how far the global financial crisis still has to run, with the extent of further credit losses hinging on what happens to the U.S. housing sector, IMF chief Dominique Strauss-Kahn said on Wednesday.
GFK says to make better offer for TNS than WPP (Reuters)

WPP's Martin Sorrell in a file photo. Germany's GfK Holdings AG said on Wednesday it wants to make a better offer for Britain's Taylor Nelson Sofres TNS than Martin Sorrell's advertising group WPP. (File/Reuters)Reuters - Germany's GfK Holdings AG said on Wednesday it wants to make a better offer for Britain's Taylor Nelson Sofres TNS than Martin Sorrell's advertising group WPP.
Oil rebounds $2 on Iran missile tests (Reuters)

A New York City cab driver fills his taxi up with gas at a Hess station in New York July 2, 2008. (Shannon Stapleton/Reuters)Reuters - Oil rose $2 to around $138 a barrel on Wednesday, partly recouping a $5 drop in the previous session, after Iran said it had test-fired missiles that could reach Israel and U.S. bases in the region.
China market sees signs of economic policy easing (Reuters)

A vendor rests at a cloth stall of a market in Hefei, Anhui province June 10, 2008. (Jianan Yu/Reuters)Reuters - A flurry of visits by Chinese leaders to cities hit by sluggish exports and a reported tax rebate for textile exporters are being interpreted by the market as signals that Beijing might cautiously ease tight economic policies.
"Grand Theft Auto" sales top Hollywood movie - 08, May 2008

NEW YORK (Reuters) - Criminal action game "Grand Theft Auto 4" scored over $500 million in global receipts its first week in release, selling over 6 million units to become one of the most lucrative entertainment launches in history.



By Franklin Paul
NEW YORK (Reuters) - Criminal action game "Grand Theft Auto 4" scored over $500 million in global receipts its first week in release, selling over 6 million units to become one of the most lucrative entertainment launches in history.
Initial sales of the highly anticipated Take-Two Interactive Software Inc game topped the $300 million for last year's "Halo 3" video game from Microsoft Corp.
Sales exceeded Hollywood's biggest blockbuster film debut, "Pirates of the Caribbean: At World's End," which raked in $406 million globally in its first six days.
"Grand Theft Auto IV's first-week performance represents the largest launch in the history of interactive entertainment, and we believe these retail sales levels surpass any movie or music launch to date," Strauss Zelnick, chairman of Take-Two, said in a statement.
Made by Take-Two's Rockstar studio, the game is the latest in the controversial "Grand Theft Auto" series that has made headlines for hidden sex scenes and for high levels of violence.
In the latest game the player is cast as an Eastern European immigrant who runs drugs, shoots cops and knocks off rivals. Critics hailed the game as a brutal and satirical masterpiece.
A group called Mothers Against Drunk Driving has sought an adults-only rating on the game because it lets players drive after drinking virtual alcohol.
The video game publisher was expected to use the strong results, which topped even the most bullish expectations, to strengthen its bargaining position in talks with rival Electronic Arts Inc, which is trying to buy it for $2 billion, or $25.74 per share. 





(c) 2008 Reuters
Other news from Technology category:

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  2. Fans line-up in Asia 2 days before new iPhone launch - 09, Jul 2008

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  3. Fans queue in Asia 2 days before new iPhone launch - 09, Jul 2008

    TOKYO/WELLINGTON (Reuters) - Seeking to be one of the first to grab the new-generation iPhone, fanatical Apple fans around Asia are queuing up two days ahead of its July 11 launch while inquiries and early orders are swamping related Websites.

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  4. Canada's spectrum auction nears end - 09, Jul 2008

    TORONTO (Reuters) - A government auction of wireless spectrum aimed at bringing fresh competition to Canada's cellphone market has reached its final stretch, with total bids reaching more than C$4 billion ($3.9 billion) so far -- about twice the amount ex

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  5. Nortel plans Asia push, but it may be a tough slog - 09, Jul 2008

    TORONTO (Reuters) - Nortel Networks Corp plans aggressive growth in the Asia-Pacific region over the next two to three years, hoping to capitalize on demand for network gear and services in rapidly growing markets such as India and China.

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  6. EA says has complied with FTC request on Take-Two - 09, Jul 2008

    SAN FRANCISCO (Reuters) - Video game publisher Electronic Arts Inc said on Tuesday it complied with a regulator's request for more information on its Take-Two Interactive Software Inc bid, moving a step closer to buying its rival.

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  7. iPhone UK websites swamped before Friday launch - 09, Jul 2008

    LONDON (Reuters) - Apple's new iPhone sold out online in Britain ahead of its Friday launch, defying general consumer gloom as the country's economy threatened to tip over into its first recession in more than a decade.

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  8. VMware names new CEO, lowers '08 revenue outlook - 08, Jul 2008

    NEW YORK (Reuters) - Business software maker VMware Inc on Tuesday said President and Chief Executive Diana Greene is stepping down and will be immediately replaced by Paul Maritz.

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  9. Nokia Q2 EPS seen up 16 pct, eyes on outlook - 08, Jul 2008

    HELSINKI (Reuters) - Nokia Oyj is expected to report a 16 percent earnings rise due to strong demand in emerging markets, yet its comments on the impact of slowing growth is likely to set the tone for its shares.

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  10. Activision's merger with Vivendi will shake gaming biz - 08, Jul 2008

    Activision Inc shareholders Tuesday are expected to approve a merger with Vivendi Games that will allow the deal to close within days and create a new top dog in the fast-growing video gaming world.

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Software News
Microsoft sets pricing, fee sharing for services (Reuters)

Microsoft Chief Executive Officer Steve Ballmer speaks during a luncheon and conference on technology and innovation in Madrid April 25, 2008. (Susana Vera/Reuters)Reuters - Microsoft Corp introduced on Wednesday pricing for its suite of online services targeted at corporate customers and a revenue-sharing plan to encourage other companies to sell the software company's products.
India Expects Software and Services Revenue Growth to Fall (PC World)
PC World - India's revenue from software and services is expected to be slower this year, according to an industry body.
Google lets people create custom virtual realms (AFP)

File photo shows a virtual rendition of US Congressman Edward Markey on Second Life for the UNs climate change convention in Bali, Indonesia. Web firm Google has rolled out a challenge to virtual world giant Second Life with free software that lets people create their own online 3D worlds(AFP/OneWorld.net/File)AFP - Google has rolled out a challenge to virtual world giant Second Life with free software that lets people create their own online 3D worlds that can be embedded on websites and melded with other online functions.
EA says has complied with FTC request on Take-Two (Reuters)

College fullback Owen Schmitt (R), drafted by the NFL's Seattle Seahawks, and DeSean Jackson, a wide receiver drafted by the Philadelphia Eagles, play EA Games NCAA Football at the game-makers; studio in Burnaby, British Columbia May 5, 2008. (Andy Clark/Reuters)Reuters - Video game publisher Electronic Arts Inc said on Tuesday it complied with a regulator's request for more information on its Take-Two Interactive Software Inc bid, moving a step closer to buying its rival.
Real Software, Veryant bolster dev tools (InfoWorld)
InfoWorld - Real Software and Veryant are upgrading development tools this week, with Real Software focused on its RealBasic platform and Veryant on Cobol.
VMware shares plunge on CEO change, slowing growth (AP)
AP - VMware Inc. abruptly replaced co-founder Diane Greene as chief executive Tuesday and lowered its sales outlook, triggering alarms that pounded the business software maker's shares to their lowest depths since the company's lucrative public offering 11 months ago.
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