Tech rally and oil's fall drive Wall Street's gains - Business

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NBC Universal, partners to buy Weather Channel (Reuters)
Reuters - NBC Universal and private equity firms Bain Capital and Blackstone Group said on Sunday they agreed to buy The Weather Channel from Landmark Communications.

Is capitulation on the cards? (Reuters)

Reuters - Profit warnings, breaches of key index levels, record oil prices, stressed consumers and investors seeking safety provide the background for markets this week, and many people are wondering how long this will all last.

Postbank sale may fail over target price: report (Reuters)

Reuters - The sale of Germany's biggest retail bank Deutsche Postbank could fail because the price potential bidders are willing to pay does not meet the expectations of the lender's parent, Deutsche Post, a German magazine reported on Saturday.

Auto sector woes could spur deals: Renault CEO (Reuters)

Reuters - A current slump in the global automotive sector could give fresh impetus to plans for consolidation within the industry, the head of French carmaker Renault said on Saturday.

Hyundai cuts, Kia lifts domestic sales target (Reuters)

Reuters - Hyundai Motor Co (005480.KS), South Korea's top auto maker, said on Sunday it had cut its local sales target for this year by 6 percent as record-breaking oil prices are hitting consumer sentiment in Asia's fourth-largest economy.

China premier: Continue inflation fight (AP)
AP - China's premier called for continued vigilance against inflation that has reached 12-year highs, saying the government should ensure that price increases are "acceptable," a state-run news agency reported Sunday.

NEW YORK (Reuters) - Stocks rose on Monday as the introduction of a faster BlackBerry spurred optimism about business spending on technology, while cooling oil prices eased inflation concerns.

By Caroline ValetkevitchNEW YORK (Reuters) - Stocks rose on Monday as the introduction of a faster BlackBerry spurred optimism about business spending on technology, while cooling oil prices eased inflation concerns.Research in Motion Ltd (RIM.TO) (RIMM.O) jumped 6.9 percent to $141.97 and hit a record, giving the tech sector an early lift. Nasdaq extended gains late in the session after news Hewlett-Packard Co (HPQ.N) is close to a deal to buy Electronic Data Systems Corp (EDS.N) for as much as $13 billion.Financial shares also gained, as the long-suffering bond insurer MBIA Inc (MBI.N), which reported stronger-than-expected results, said the volume of new business appears to be rising.The Dow also got a big boost after Citigroup raised its forecast for the price of aluminum, lifting shares of Alcoa Inc (AA.N) 6.6 percent. Caterpillar Inc (CAT.N), a top maker of earth-moving equipment, also rose.Oil prices fell 1.4 percent after traders took profits on the recent string of record closes. The decline trimmed worries about rising inflation two days before the government reports on consumer prices for April."Money continues to go to individual names where the fundamentals continue to be strong. Clearly that was outlined by RIMM and the action in Apple," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles."Money is going to companies and sectors where there still is economic growth, and there are a number of those stories within technology."The Dow Jones industrial average .DJI rose 130.43 points, or 1.02 percent, to end at 12,876.31. The Standard & Poor's 500 Index .SPX gained 15.30 points, or 1.10 percent, to 1,403.58. The Nasdaq Composite Index advanced 42.97 points, or 1.76 percent, to 2,488.49.

Other news from Business category:

Alitalia to get 700-800 mln euros: report - 07, Jul 2008
MILAN (Reuters) - Alitalia will receive a capital injection of 700 million to 800 million euros from Italian businessmen as part of a plan to save the ailing carrier, newspaper Corriere della Sera reported on Sunday.

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Is capitulation on the cards? - 07, Jul 2008
LONDON (Reuters) - Profit warnings, breaches of key index levels, record oil prices, stressed consumers and investors seeking safety provide the background for markets this week, and many people are wondering how long this will all last.

More
NBC Universal, partners to buy Weather Channel - 07, Jul 2008
PHILADELPHIA (Reuters) - NBC Universal and private equity firms Bain Capital and Blackstone Group said on Sunday they agreed to buy The Weather Channel from Landmark Communications.

More
Hyundai cuts, Kia lifts domestic sales target - 06, Jul 2008
SEOUL (Reuters) - Hyundai Motor Co , South Korea's top auto maker, said on Sunday it had cut its local sales target for this year by 6 percent as record-breaking oil prices are hitting consumer sentiment in Asia's fourth-largest economy.

More
Auto sector woes could spur deals: Renault CEO - 06, Jul 2008
AIX-EN-PROVENCE, France (Reuters) - A current slump in the global automotive sector could give fresh impetus to plans for consolidation within the industry, the head of French carmaker Renault said on Saturday.

More
Oil falls below $144 as Iran responds to nuclear offer - 05, Jul 2008
LONDON (Reuters) - Oil dropped below $144 a barrel on Friday, but was still within sight of record highs reached in the previous session when traders bought into the market ahead of a holiday weekend in the United States.

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EU opens in-depth investigation of Rio-BHP deal - 05, Jul 2008
BRUSSELS (Reuters) - The European Commission opened an in-depth investigation on Friday into BHP Billiton's $170 billion unsolicited bid for rival miner Rio Tinto , with prices of iron ore already soaring.

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World stocks fall on financial shares, oil drops - 05, Jul 2008
SAO PAULO (Reuters) - World stocks edged lower on Friday, getting no relief from a decline in crude prices as concerns of further banking write-downs weighed on financial shares.

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French bank body fines SocGen $6 million over Kerviel - 05, Jul 2008
PARIS (Reuters) - France's Banking Commission on Friday fined Societe Generale 4 million euros ($6.3 million) for serious breaches in internal controls revealed by the French bank's 4.9 billion euro rogue trading loss.

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Oil falls below $145, awaits Iran response - 04, Jul 2008
LONDON (Reuters) - Oil dropped below $145 a barrel on Friday, but was still within sight of record highs reached in the previous session when traders bought into the market ahead of a holiday weekend in the United States.

More

Software News

'Containers' Out Perform Virtualization For KV Pharmaceuticals (TechWeb)
TechWeb - InformationWeek - With a container approach from Parallels' Virtuozzo, memory consumption and processor overhead are reduced through the use of one operating system per host.

Nokia 6220 Smartphone Released (TechWeb)
TechWeb - InformationWeek - The Nokia 6220 classic design includes 3G connectivity, compatibility with Microsoft Office applications, Bluetooth capabilities, and a 5-megapixel camera.

Microsoft Hopes Office Subscription Plan Will Counter Free Software (TechWeb)
TechWeb - InformationWeek - Microsoft is counting on Equipt's convenience factor to help it fend off threats from Google, IBM, and others that are offering free desktop productivity suites.

Three Startups To Solve SaaS Integration Problems (TechWeb)
TechWeb - InformationWeek - Boomi, SnapLogic, and Cast Iron are rolling out new offerings designed to help companies integrate software running in the cloud with onsite software.

Blogger Opinion: Why We Left NetSuite (NewsFactor)
NewsFactor - I first met our solution provider, Ray Tetlow, the founder of Skyytek, on the Oracle Small Business (OSB from now on) user forum. At the time we were struggling with version 7 of OSB. It was really incomplete and badly tested software. Not only was it painfully slow, but also a lot of the features on which we based our purchasing decision just did not work.

Krugle enhances code search appliance (InfoWorld)
InfoWorld - Krugle plans to ship next week an upgrade to its search appliance for enterprise software development projects, which makes it easier for teams of developers to maintain code.

Alitalia to get 700-800 mln euros: report - 07, Jul 2008

Is capitulation on the cards? - 07, Jul 2008

NBC Universal, partners to buy Weather Channel - 07, Jul 2008

Hyundai cuts, Kia lifts domestic sales target - 06, Jul 2008

Auto sector woes could spur deals: Renault CEO - 06, Jul 2008

Oil falls below $144 as Iran responds to nuclear offer - 05, Jul 2008

EU opens in-depth investigation of Rio-BHP deal - 05, Jul 2008

World stocks fall on financial shares, oil drops - 05, Jul 2008

French bank body fines SocGen $6 million over Kerviel - 05, Jul 2008

Oil falls below $145, awaits Iran response - 04, Jul 2008