business

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BERLIN: Vodafone, the world's largest mobile phone operator, and Telecom Italia Mobile, the leader in the Italian cellphone market, said they had reached agreements with Apple to sell the multimedia telephone. Vodafone also said it would sell the iPhone in nine other countries: the Czech Republic, Greece, Portugal, India, Egypt, Australia, New Zealand, South Africa and Turkey.

"It was going to be difficult for Apple to continue on an exclusivity basis," said Carolina Milanesi, the research director for mobile devices at Gartner in London. "Opening up to more operators will widen their addressable market and therefore their overall sales potential."

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SYDNEY: "Vodafone Australia is enormously pleased to be included in the agreement to sell the iPhone to our customers later this year," Vodafone chief executive Russell Hewitt said.

"The iPhone has already proved to be extremely popular with customers in other parts of the world and Vodafone is confident that today's announcement will be well received by all Australians who are keen to get their hands on their own iPhone."

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Original Source

Photos courtesy of AP and Reuters

Microsoft has decided to withdraw its three-month-old offer to buy Yahoo, as expressed in a formal letter from Microsoft chief executive Steve Ballmer to Yahoo chief executive Jerry Yang.

"The companies had finally engaged in merger talks this week and appeared closer than ever to a deal Friday, but they still remained billions of dollars apart in their assessment of Yahoo's worth. Ballmer said today that the company had raised its buyout price to $33 a share from the initial $31 offered, which added $5 billion to the deal that was initially worth $44.6 billion.

That would have represented a 70% premium over Yahoo's closing stock price on Jan. 31, the night that Redmond, Wash.-based Microsoft made its unsolicited offer.

But in recent talks Yahoo had insisted on receiving at least $5 billion more than that, or at least $37 a share, which Microsoft was unwilling to pay, Ballmer wrote in a letter to Yang.

Ballmer said he had decided against launching a hostile bid for Sunnyvale, Calif.-based Yahoo, including trying to take control of the company's board and offering the deal directly to shareholders. He said Yahoo had signaled that it would take action that could prolong such a proxy fight and make the company less valuable to Microsoft, including striking a partnership with Google Inc. in which the search giant would deliver ads alongside many of Yahoo's search results."

Image courtesy of The Los Angeles Times

Original Source

"SEATTLE — West Coast ports were shut down on Thursday as thousands of longshoremen failed to report for work, part of what their union leaders said was a one-day, one-shift protest against the war in Iraq.

Cranes and forklifts stood still from Seattle to San Diego, and ships were stalled at sea as workers held rallies up and down the coast to blame the war for distracting public attention and money from domestic needs like health care and education.

“We’re loyal to America, and we won’t stand by while our country, our troops and our economy are being destroyed by a war that’s bankrupting us to the tune of $3 trillion,” the president of the International Longshore and Warehouse Union, Bob McEllrath, said in a written statement. “It’s time to stand up, and we’re doing our part today.”

About 25,000 union members are employed at 29 West Coast ports, but the protest took place only during the day shift. A spokesman for the main West Coast employers’ group, the Pacific Maritime Association, said it appeared that about 6,000 workers did not show up for work, which meant that about 10,000 containers would not be loaded or unloaded from about 30 cargo ships."

Image courtesy of The New York Times

Original Source

"Sky-high gas prices have more commuters switching to employer-subsidized transportation—and loving it"

Photo courtesy of BusinessWeek

Original Source

April 28, 2008, 1:05AM
"SINGAPORE — Oil prices hit an all-time high near $120 a barrel today."

Original Source

"Mortimer B. Zuckerman, the owner of The Daily News, believes he can snatch Newsday from Rupert Murdoch without offering a dime more than the $580 million already on the table.

News Corporation executives believe the only regulatory scrutiny their deal would receive would be from the Justice Department, regarding to whether combining Newsday and The Post would be anticompetitive.

On this point, Newsday’s circulation overlaps more with The Daily News than with The Post.

However, Mr. Murdoch owns two television stations in the New York area (WNYW and WWOR) and is already in the process of seeking waivers from the F.C.C. to continue to control television stations and newspapers in the same market. "

Photo courtesy of The New York Times

Original Source