Microsoft purchases stake in Facebook
IT'S A DEAL:
The investment ends three months of jockeying between three Internet giants for the right to invest in and forge close ties with the social networking success
Microsoft has won a high-profile technology industry battle with Google and Yahoo to invest in the social networking upstart Facebook.
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Sony announces operating profit
Japan's Sony Corp said yesterday that it had swung back to an operating profit in the three months to last month from a loss a year earlier caused by recalls of millions of computer batteries.
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Buffett says US economy will weather storm
MR MONEY:
On a trip to South Korea, the investor spoke highly of the nation's stocks, saying that he was first attracted to them years ago because they were undervalued
US billionaire investor Warren Buffett said yesterday that problems in the US subprime mortgage market will likely weigh on consumers for up to two years, but that the US economy will weather the storm.
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Google planning to wring more riches from the Internet
Unfazed by rival Microsoft winning a race to partner with online phenomenon Facebook, Google wooed analysts on Wednesday with plans to wring even more riches from the Internet.
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Bank of America announces job cuts after earnings drop
Bank of America Corp said on Wednesday it would cut 3,000 jobs, an announcement that came less than a week after the bank reported a huge drop in earnings for the third quarter.
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Wii helps Nintendo to big profit boost
Nintendo Co said yesterday profits more than doubled in the six months to Sept. 30 on the soaring success of its hit Wii and Nintendo DS game consoles.
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World Business Quick Take
■ Electronics
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