| Business News |
Citigroup aims to sell $400 billion of assets
(Reuters)
 Reuters - Citigroup Inc , the largest
U.S. bank, said on Friday it aims to shed $400 billion of
assets -- nearly 20 percent of its total -- over the next two
to three years to become more efficient and profitable.
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AIG loss, oil, drug firms rattle investors
(Reuters)
 Reuters - Stocks fell on Friday after American
International Group , the world's largest insurer,
reported a record $7.8 billion quarterly loss, rekindling
concerns about financial services companies.
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AIG says rating cuts to raise costs
(Reuters)
 Reuters - American International Group
said on Friday two rating agency downgrades will likely
increase funding costs for some of its businesses, and has
required it to post $1.6 billion more in collateral.
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Oil ebbs a little from record high
(Reuters)
 Reuters - Oil hit a new peak above $126 on Friday,
the fifth straight session of record gains, in a market given
an additional spur by tight supplies of diesel.
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U.S. crude futures jump more than $2, above $126
(Reuters)
 Reuters - U.S. crude futures jumped more than $2
to a record high above $126 on Friday, fueled by fund buying
and surging distillate prices on both sides of the Atlantic,
according to traders.
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SMBs Remain Bullish Despite Weak Economy
(NewsFactor)
NewsFactor - Small businesses are confident that bleak economic conditions will pass without their being adversely affected by the economic downturn, according to a new study of 250 small-business owners. Or, at the very least, they're keeping a stiff upper lip about the downturn and the prospects for a speedy recovery.
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HotNews
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ISLAMABAD (Reuters) - Pakistan's new government is trying to convince the United States that unilateral strikes against al Qaeda militants on its territory could be "counter-productive", the country's foreign minister said on Friday.
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GENEVA (Reuters) - The United Nations Human Rights Council will hold a special session on May 23 to examine how the world's food crisis is undermining the right to food for millions of people, officials said on Friday.
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ST POELTEN, Austria (Reuters) - An Austrian court on Friday ordered Josef Fritzl, who kept his daughter in a cellar for 24 years and had seven children with her, to be kept in custody for a further month, a court spokesman said.
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BERLIN (Reuters) - The Dalai Lama says he understands why Tibetan exiles were angry that the Olympic torch reached the top of Mount Everest but had advised them against protesting.
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BAGHDAD (Reuters) - The leader of al Qaeda in Iraq is still being hunted, the U.S. military said on Friday, after Iraqi officials wrongly declared Abu Ayyub al-Masri had been caught.
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Internet
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WASHINGTON (Reuters) - The chairman of the House Judiciary Committee on Thursday introduced legislation that would bar network providers from discriminating against some Internet content.
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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.
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TORONTO (Reuters) - An aspiring Canadian filmmaker is asking the public at large to help fund his first movie project, one frame at a time.
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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.
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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.
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Business
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MUNICH/HAMBURG (Reuters) - Prosecutors investigating suspected bribery at German engineering group Siemens said on Friday they have found no evidence to warrant criminal charges against former Chief Executive Heinrich von Pierer.
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NEW YORK (Reuters) - Clear Channel Communications Inc posted a weaker-than-expected quarterly profit on Friday and the U.S. radio station operator said it was unclear whether a proposed buyout would be completed.
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LONDON (Reuters) - Oil prices leapt to a new peak of more than $126 a barrel on Friday, hitting a record for the fifth straight session, in a market given an additional spur by tight supplies of diesel.
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NEW YORK (Reuters) - American International Group said on Friday two rating agency downgrades will likely increase funding costs for some of its businesses, and has required it to post $1.6 billion more in collateral.
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PHILADELPHIA (Reuters) - Citigroup Inc, the largest U.S. bank, said on Friday it aims to shed $400 billion of assets -- nearly 20 percent of its total -- over the next two to three years to become more efficient and profitable.
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Technology
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SAN FRANCISCO (Reuters) - Activision Inc posted a quarterly profit on Thursday that blew past expectations as demand for its "Guitar Hero 3" and "Call of Duty 4" video games made up for a complete lack of new releases.
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NEW YORK (Reuters) - Cablevision Systems Corp said on Thursday it plans to spend $350 million to build a wireless broadband network to serve its subscribers in the New York area.
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NEW YORK (Reuters) - News Corp's MySpace social network will let users choose to share their public profile information, such as pictures, videos, and text, across the Web to spread its service beyond its own borders.
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LONDON (Reuters) - Young designers competing to get noticed by fashion labels can now launch their careers online through the fashion world's answer to the social networking Web site MySpace.com.
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BOSTON (Reuters) - Pierre Avignon is no pirate, but he does not believe in paying for software. His computer is filled with programs like Symphony -- a free suite that he downloaded from an International Business Machines Corp website (http://symphony.lo
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Science
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BEIJING (Reuters) - A deadly strain of hand, foot and mouth disease has killed two more children in China, bringing the death toll in recent weeks to 32, state media said on Friday, as it praised a doctor who alerted authorities to the epidemic.
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LONDON (Reuters) - Dutch scientists said on Friday they have identified a key gene that protects tomatoes against a common fungus that causes the plants to wilt.
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PUERTO MONTT/FUTALEUFU, Chile (Reuters) - Chile on Thursday ordered holdout residents to flee from an erupting volcano in the remote region of Patagonia and vowed to force them out if they refuse to obey.
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NEW YORK (Reuters) - A new company hopes drivers will kick the oil habit by brewing ethanol at home that won't spike food prices.
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WASHINGTON (Reuters) - Bits of chewed-up or burned seaweed discarded more than 14,000 years ago confirm that people were in Chile at least that long ago and shed light on what their culture was like, researchers reported on Thursday.
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Sport
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PONTE VEDRA BEACH, Florida (Reuters) - American Jeff Maggert pulled out of the Players Championship before Friday's second round following the death of his brother in a plane crash.
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PONTE VEDRA BEACH, Florida (Reuters) - Phil Mickelson was delighted to shoot a sub-par score at the Players Championship on Thursday in launching his bid to become the tournament's first back-to-back winner.
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ATHENS (Reuters) - From its dangerously empty coffers in the late 1970s to the multi-billion-dollar revenues from the Beijing 2008 Games, the International Olympic Committee (IOC) has managed a remarkable commercial transformation of its prime product, th
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PONTE VEDRA BEACH, Florida (Reuters) - Spaniard Sergio Garcia, steadily regaining confidence in his putting, took advantage of an early tee-off time to seize a two-stroke lead in the Players Championship first round on Thursday.
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HALIFAX, Nova Scotia (Reuters) - Rick Nash scored a third-period powerplay goal to lift defending champions Canada to a 2-1 win over Norway at the ice hockey world championships on Thursday.
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Entertainment
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LOS ANGELES, May 9 - (Reuters) - Eight years ago, Colombian rocker Juanes was an immigrant seeking opportunities in Los Angeles before he found a music producer who gave him his big break.
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BERLIN (Reuters) - The first screen portrayal of Dracula was so eerie, some critics asked whether the actor himself could be a vampire. But since his death, little has been done to resurrect Max Schreck's reputation -- until now.
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LOS ANGELES (Hollywood Reporter) - ABC has found more hours for the final two seasons of "Lost." The 2009 and 2010 editions of the hit drama will be 17 hours each -- not 16, as previously planned.
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LOS ANGELES (Reuters) - "W" may not be Oscar-winning director Oliver Stone's first political biopic or even his first controversial film, but it may be his first comedy.
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LOS ANGELES (Reuters) - Alec Baldwin, who has played all kinds of heroes and villains on stage and screen, says he may be ready to take on a new role -- that of real-life politician.
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| Software News |
Sun: Java ubiquity an advantage in RIA battle
(InfoWorld)
InfoWorld - Sun Microsystems is counting on the ubiquitous nature of Java to help its JavaFX technology compete in the rich Internet application (RIA) space against rivals Adobe Systems and Microsoft.
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Flomerics surges after rejects Mentor cash bid
(Reuters)
Reuters - Shares in British engineering software
firm Flomerics Group surged on Friday after rejecting a
buyout offer from larger U.S. rival Mentor Graphics, saying it
would explore interest from several other parties.
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Windows Vista More Vulnerable To Malware Than Windows 2000
(TechWeb)
TechWeb - InformationWeek - Vista let 639 threats per thousand computers through, compared with 586 for Windows 2000, 478 for Windows 2003, and 1,021 for Windows XP, security vendor PC Tools said.
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Four Microsoft Security Patches Due Next Week
(PC World)
PC World - Microsoft plans to fix critical bugs in its Word, Publisher and Jet database software next week.
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Intel, Sun: So Happy Together, When It Comes To Software
(TechWeb)
TechWeb - InformationWeek - The joint development efforts have been broader and deeper than anticipated, company executives reveal.
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Grand Theft Auto IV Speeds Past Six Million Mark
(NewsFactor)
NewsFactor - Since its release on April 29, global sales of the Grand Theft Auto 'GTA IV' video game from Take-Two Interactive Software (Nasdaq: TTWO) have surpassed six million units, with an estimated retail value of more than $500 million in the first week. Over the first day alone, GTA IV sales were approximately 3.6 million units with a retail value of $310 million worldwide.
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