Google sees YouTube products soon; warm on Yahoo - Internet

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Business News

House passes housing bill; Bush lifts veto threat (Reuters)

Reuters - The House of Representatives passed a massive housing rescue bill on Wednesday while the White House dropped a threat to veto it, paving the way for measures aimed at shoring up the worst U.S. housing market since the Great Depression.

Amazon profit, sales above view and shares rise (Reuters)

Reuters - Amazon.com Inc said on Wednesday quarterly profit doubled and sales grew 41 percent, indicating to Wall Street that many cost-conscious shoppers are heading online to save money in a tough economy.

SemGroup gets court OK for initial bankruptcy motions (Reuters)
Reuters - SemGroup LP, an Oklahoma-based oil trading services company, on Wednesday said it received approval from the Bankruptcy Court for its initial motions related to its bankruptcy.

Microsoft exec who led Yahoo bid leaving company (Reuters)
Reuters - Microsoft Corp said on Wednesday that Kevin Johnson, who as president of Microsoft's largest business division spearheaded the company's pursuit of Yahoo Inc , is leaving the software maker.

China's Zhongxing in talks with GM, FAW: source (Reuters)
Reuters - China's Hebei Zhongxing Automobile Co is in talks with General Motors and major Chinese automaker FAW Group to explore opportunities for cooperation, including equity ties, a source close to the situation said on Thursday.

Sluggish Economy Slows 'Somewhat' As Oil Squeezes Spending, Fed Reports (Investor's Business Daily)
Investor's Business Daily - The economy has slowed "somewhat" as rising energy prices and the credit crunch force consumers to cut back, the Federal Reserve said Wednesday.

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:

Art shock troops mock Russian establishment - 23, Jul 2008
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China arrests dissident in pre-Olympics crackdown - 23, Jul 2008
BEIJING (Reuters) - Chinese police have arrested a prominent Internet dissident for violating his probation terms, a rights group said, as the country steps up a pre-Olympic crackdown on dissent to ensure the Games go smoothly.

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Judge rules against YouTube star in divorce court - 22, Jul 2008
NEW YORK (Reuters) - A British actress who earned YouTube stardom after posting monologues about her failed high society marriage was cruel to her husband and must vacate their apartment within a month, a New York judge ruled on Monday.

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Legg's Miller backs Yahoo in proxy war with Icahn - 19, Jul 2008
BOSTON/SAN FRANCISCO (Reuters) - Fund manager Bill Miller, one of Yahoo Inc's top shareholders, dealt a blow on Friday to billionaire investor Carl Icahn's two-month campaign to replace the Internet firm's directors, throwing his support behind Yahoo's cu
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Russia's Rambler sells ad unit to Google - 18, Jul 2008
MOSCOW (Reuters) - Rambler Media, the British-registered owner of Russia's Rambler Internet portal, said on Friday it has agreed to sell the Begun advertising agency to Google Inc for $140 million.

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Walmart.com ending line of trendy women's clothes - 18, Jul 2008
NEW YORK (Reuters) - Wal-Mart Stores Inc's online division is ending a line of trendy women's clothing that it had been selling since last August.

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Former AOL executives back documentary film site - 17, Jul 2008
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Nintendo plans 60-instrument "Wii Music" - 16, Jul 2008
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Microsoft and Yahoo trade barbs over talks breakdown - 16, Jul 2008
NEW YORK/SAN FRANCISCO (Reuters) - Yahoo Inc and
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Stolen bank data gets cheaper on Web: report - 16, Jul 2008
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Software News

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...

Sprint's Palm Centro Gets Software Update (TechWeb)
TechWeb - InformationWeek - The update improves IMAP compatibility with Gmail, and provides an updated setup wizard for the Web-based e-mail.

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