Google sees YouTube products soon; warm on Yahoo - Internet

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Business News

Markets await Bernanke as central bankers gather (Reuters)

Reuters - Federal Reserve Chairman Ben Bernanke tackles financial stability in a key speech on Friday but economists doubt he will provide solid clues about future policy action to calm the credit crunch.

Fannie and Freddie debt gains, deep share dive abates (Reuters)

Reuters - Investors' growing belief in the likelihood of a federal bailout of home-funding giants Fannie Mae and Freddie Mac triggered a rally in the debt prices of the two companies on Thursday while a steep fall in their shares prices abated.

Oil up 5 percent on global tensions, soft dollar (Reuters)

Reuters - Oil prices rose nearly 5 percent on Thursday, the biggest percentage gain in more than two months, driven by rising tensions between the United States and energy behemoth Russia.

Three big banks settle with NY state over ARS (Reuters)
Reuters - New York Attorney General Andrew Cuomo on Thursday said Merrill Lynch & Co Inc , Deutsche Bank (DBKGn.DE) and Goldman Sachs have agreed to settlements regarding their auction rate security sales practices.

FINRA probes 40 firms on auction rate securities: source (Reuters)
Reuters - Financial industry enforcement agents will review the auction-rate debt operations of about 40 firms industrywide starting next week, sources familiar with the investigation said on Thursday.

Trends & Innovations - Wednesday (Investor's Business Daily)
Investor's Business Daily - The proportion of working-age Americans facing medical debt rose to 72 mil or 41% last year, up from 58 mil or 34% in '05, according to a new survey by the nonprofit Commonwealth Fund. About half of those facing health debt have up to $2,000 in bills, while 12% have more than $4,000 in debt and another 12% have more than $8,000. The survey also found most of those with medical debt said they had exhausted their savings, with some also tapping into credit cards, home equity or cutting back on food or heat to cover health care costs.

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.

Other news from Internet category:

Internet users fear iTunes blocked in China - 22, Aug 2008
BEIJING (Reuters) - The downloading of music for iPod players has hit a mysterious glitch in China, stumping scores of users and raising fears the government has blocked Apple's iTunes site over pro-Tibet lyrics, analysts said on Thursday.

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Internet to the rescue for work-bound viewers - 21, Aug 2008
BEIJING (Reuters) - Huge numbers of Chinese are turning to the Internet to watch the Olympics at work, as bosses stop them from watching the Games on television.

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Games attract record viewers and Internet a hit - 20, Aug 2008
BEIJING (Reuters) - The Beijing Olympics will become the most viewed Games in their 112-year history, boosted by a hugely popular Internet platform, the IOC said on Wednesday.

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Germans urge tougher laws after new privacy scandal - 19, Aug 2008
BERLIN (Reuters) - German politicians called for tougher privacy laws on Tuesday after officials revealed personal and financial information on millions of Germans was readily available for cash on the Internet.

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Pisces for the pool, Taurus for the pole vault - 19, Aug 2008
BEIJING (Reuters) - Something fishy is happening at the Olympic Games in Beijing. Put it all down to the stars.

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British "Mr Fix-it" al Qaeda cyber-recruiter jailed - 19, Aug 2008
LONDON (Reuters) - A Briton described by prosecutors as a terrorism "Mr Fix-it" who recruited young people to al Qaeda's ideology over the Internet was jailed for 12 years on Tuesday while one of his accomplices received a 10-year term.

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Georgia cuts access to Russian websites, TV news - 19, Aug 2008
TBILISI (Reuters) - Georgian authorities have blocked most access to Russian news broadcasters and websites since the outbreak of the conflict with Moscow.

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UK pedophile was "librarian" for global abuse ring - 18, Aug 2008
LONDON (Reuters) - A pedophile who acted as a "librarian" for a global Internet child abuse ring was jailed on Monday after one of the biggest undercover police investigations into online abuse in Britain.

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NBC builds online audience even as TV ratings soar - 15, Aug 2008
NEW YORK (Reuters) - For NBC Universal, balancing TV and online coverage of the Beijing Olympic Games has been as tricky as any maneuver on the balance beam, parallel bars or vault.

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Gannett to cut 1,000 newspaper jobs: memo - 15, Aug 2008
SAN FRANCISCO (Reuters) - Gannett Co Inc plans to eliminate 1,000 positions from its local newspapers around the U.S. because of declining advertising and circulation revenue, and may cut more if those conditions persist.

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Software News

Microsoft enlists Seinfeld for ad campaign: source (Reuters)

Reuters - Comedian Jerry Seinfeld will star in a $300 million marketing campaign for Microsoft Corp aimed at burnishing the image of its computer operating system, a person familiar with the effort said on Thursday.

Photosynth Stitches Photos Into a 3-D Web Canvas (NewsFactor)
NewsFactor - Microsoft's name has never been synonymous with photography, visual imaging or innovative online applications. But its release Wednesday of Photosynth -- a hybrid software/service that allows users to create 3-D environments by stitching multiple photographs together -- suggests the company has more than a few cards up its sleeve.

Apple tries to de-bug iPhone (USATODAY.com)
USATODAY.com - Apple acknowledged that a software update for the iPhone partly fixes the connection snags that have caused a global firestorm for the new iPhone 3G.

Salesforce.com stock drops on cautious outlook (AP)
AP - Salesforce.com Inc. kept its financial guidance within the range of analyst estimates Wednesday, disappointing investors who expected a more bullish forecast from one of the Internet's most popular software services.

Microsoft Eases Server-Virtualization Restrictions (NewsFactor)
NewsFactor - Microsoft has elected to jettison certain licensing restrictions that previously discouraged its customers from moving the software giant's server applications within a server farm at will.

Google Invites Security Researchers To Debug Android (NewsFactor)

NewsFactor - In a move that could help it avoid an iPhone 3G-like software drama, Google wants bug hunters to test its Android mobile platform. On Monday, the Android Security Team posted a message to introduce itself to the security research and vulnerability communities.

Internet users fear iTunes blocked in China - 22, Aug 2008

Internet to the rescue for work-bound viewers - 21, Aug 2008

Games attract record viewers and Internet a hit - 20, Aug 2008

Germans urge tougher laws after new privacy scandal - 19, Aug 2008

Pisces for the pool, Taurus for the pole vault - 19, Aug 2008

British "Mr Fix-it" al Qaeda cyber-recruiter jailed - 19, Aug 2008

Georgia cuts access to Russian websites, TV news - 19, Aug 2008

UK pedophile was "librarian" for global abuse ring - 18, Aug 2008

NBC builds online audience even as TV ratings soar - 15, Aug 2008

Gannett to cut 1,000 newspaper jobs: memo - 15, Aug 2008