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U.S. markets recover from steep losses
REDMOND, Wash., May 5 (UPI) -- Microsoft Corp.'s decision to walk away from a pursuit of Yahoo! Inc. leaves the Redmond, Wash., company with a basic gap in its future, analysts said Monday.
The software giant is still on solid ground, analysts said. But the high-tech future belongs to the Internet, economists told The New York Times.
"The future of mass-market computing is not the personal computer," Timothy Bresnahan, an economist at Stanford University told the Times.
Microsoft Chief Executive Officer Steve Ballmer's record "will be defined by how he manages this tremendous Internet transformation over the next few years," Forrester Research CEO George Colony told the newspaper.
How much is that future worth was given a pragmatic answer over the weekend.
Before talks broke down, Yahoo! CEO Jerry Yang held out for $37 a share for the company, while Ballmer would only go as far as $33 per share, sources said. The company's share price Friday closed at $27.65.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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