Microsoft frees rival slate from Yahoo commitment - Internet

Reuters - Hewlett-Packard Co is in talks to buy technology outsourcing company Electronic Data Systems Corp for $12 billion to $13 billion in a deal which would vault it to a close second to IBM in technology services.

AIG sees no need to honor ex-CEO request to delay AGM (Reuters)

Reuters - Maurice "Hank" Greenberg, former chief executive of American International Group , has said the insurer is in "crisis" and urged a delay in its annual general meeting scheduled for Wednesday, according to a letter he sent to the board.

Australia's Westpac bids $17.6 billion for St George (Reuters)

Reuters - Westpac Banking Corp Ltd launched a $17.6 billion all-share bid for smaller rival St George Bank Ltd in a tie-up that would create Australia's biggest bank by market value.

Nissan operating profit falls 14 percent (Reuters)

Reuters - Nissan Motor Co (7201.T) reported a 13.7 percent drop in fourth quarter operating profit on Tuesday and forecast a sharp fall in annual profits this year due to a weaker dollar, rising commodities prices and sinking U.S. demand.

SocGen net profit falls 23 pct, beats consensus (Reuters)

Reuters - Societe Generale , the French bank hit by the world's worst rogue trader scandal, reported a 23.4 percent fall in first quarter net profit although earnings came in above the average market forecast.

Survey: 1 in 10 boomers borrowing for everyday expenses (AP)
AP - The economic downturn is hitting roughly one in 10 middle-aged and older Americans especially hard, compelling them to borrow money for everyday living expenses and to seek help from family, friends or charities, according to a survey released Tuesday by the AARP.

SAN FRANCISCO (Reuters) - Microsoft Corp has released the nominees on its rival slate from their commitment to stand for election to Yahoo Inc's board in the event of a proxy fight, a source familiar with the situation said on Thursday.

By Anupreeta DasSAN FRANCISCO (Reuters) - Microsoft Corp has released the nominees on its rival slate from their commitment to stand for election to Yahoo Inc's board in the event of a proxy fight, a source familiar with the situation said on Thursday.The move indicates Microsoft remains firm in its commitment to stay away from Yahoo, days after it abandoned a $47.5 billion offer for the Internet company.Microsoft Chairman Bill Gates said this week the software giant will go it alone as it figures out how to compete with Google Inc.By releasing the rival slate, Microsoft frees up the 10 nominees to sign up for other slates that may be assembled by Yahoo shareholders.Earlier this week, Yahoo set July 3 as the date for its annual stockholder meeting, and said any nominations for a rival slate must be made before May 15."May 15, which is next week, is not enough time for some other investor group besides Microsoft to put together a slate of directors," said Shirley Westcott, a managing director of policy at Proxy Governance, an independent proxy advisory firm.Yahoo shareholders have signaled their discontent with the board's negotiations on Microsoft's buyout offer."I am extremely angry at (co-founder and chief executive) Jerry Yang and the so-called independent board," Gordon Crawford, portfolio manager for Capital Research Global Investors, the largest Yahoo shareholder, told the New York Times.

Other news from Internet category:

Hollywood actors and studios clash over Internet clips - 13, May 2008
LOS ANGELES (Reuters) - Getting Hollywood actors paid for their smallest performances -- video clips on the Internet -- is shaping up as one their biggest sticking points in stalemated contract negotiations with major studios.

More
Microsoft software gives free tours of space - 13, May 2008
SEATTLE (Reuters) - Any Star Trek fan knows that space travel is not always easy, but Microsoft Corp wants to make traveling the "final frontier" as simple as turning on your computer.

More
McCain pledges to combat climate change - 12, May 2008
PORTLAND, Oregon (Reuters) - Republican John McCain pledged to take the lead in combating global climate change if elected president in a speech that set him apart from the policies of President George W. Bush.

More
Dispatches magazine prefers print over Internet - 12, May 2008
NEW YORK (Reuters) - A pall hangs over the word "print" these days, but the editors of a new magazine bet that discerning readers want news analysis on paper and don't mind getting it just four times a year.

More
Virgin Mobile USA and Korea's SK in talks: source - 10, May 2008
NEW YORK (Reuters) - Richard Branson's Virgin Mobile USA Inc and South Korea's SK Telecom Co, which controls U.S. mobile service Helio, are in early talks on a deal, a person familiar with the discussions said on Friday.

More
McCain and blogger trade barbs over his 2000 vote - 10, May 2008
WASHINGTON (Reuters) - Did U.S. Republican presidential candidate John McCain vote for President George W. Bush in 2000?

More
House panel chair offers network neutrality bill - 09, May 2008
WASHINGTON (Reuters) - The chairman of the House Judiciary Committee on Thursday introduced legislation that would bar network providers from discriminating against some Internet content.

More
Google sees YouTube products soon; warm on Yahoo - 09, May 2008
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.

More
Canadian filmmaker turns to Internet to finance movie - 09, May 2008
TORONTO (Reuters) - An aspiring Canadian filmmaker is asking the public at large to help fund his first movie project, one frame at a time.

More
Facebook, 49 U.S. states agree on Web safety steps - 09, May 2008
SAN FRANCISCO (Reuters) - Social networking site Facebook announced an agreement on Thursday with 49 U.S. state attorneys general and the District of Columbia to increase efforts to protect its youngest members from sexual predators.

More

Software News

Microsoft software gives free tours of space (Reuters)

Reuters - Any Star Trek fan knows that space travel is not always easy, but Microsoft Corp wants to make traveling the "final frontier" as simple as turning on your computer.

SOA Software buys LogicLibrary (InfoWorld)
InfoWorld - Matching up critical components in the SOA space, SOA Software, which provides SOA governance automation, said Monday it has acquired SOA repository and governance vendor LogicLibrary.

Microsoft readies service packs for dev tools (InfoWorld)
InfoWorld - Microsoft released Monday beta versions of separate service packs for the Visual Studio 2008 software development platform and the accompanying .Net Framework 3.5, a Microsoft official said in a blog.

Google's Friend Connect To Spread Social Data (TechWeb)
TechWeb - InformationWeek - The software is part of an emerging set of technologies like OpenID, OAuth, OpenSocial, and the data access APIs published by Facebook, Google, and MySpace.

Three Charged in Dave & Buster's Hacking Job (PC World)
PC World - It may not have been the greatest hack ever, but police say the malicious software sneaked onto restaurant chain Dave &...

Windows XP SP3 Woes Especially Affect AMD Systems (NewsFactor)
NewsFactor - Users who thought the Windows XP operating system would be more reliable than its younger sibling Vista are being buffeted by reports that the latest update for XP, Service Pack 3, has its own problems.

Hollywood actors and studios clash over Internet clips - 13, May 2008

Microsoft software gives free tours of space - 13, May 2008

McCain pledges to combat climate change - 12, May 2008

Dispatches magazine prefers print over Internet - 12, May 2008

Virgin Mobile USA and Korea's SK in talks: source - 10, May 2008

McCain and blogger trade barbs over his 2000 vote - 10, May 2008

House panel chair offers network neutrality bill - 09, May 2008

Google sees YouTube products soon; warm on Yahoo - 09, May 2008

Canadian filmmaker turns to Internet to finance movie - 09, May 2008

Facebook, 49 U.S. states agree on Web safety steps - 09, May 2008