Newspaper wrap-up: 'Volkswagen law' overturned
Posted Oct 23rd 2007 9:11AM by Eric Buscemi
Filed under: Newspapers, Magazines, Verizon Communications (VZ), News Corp'B' (NWS)
.gif)
MAJOR PAPERS:
- News Corp.'s (NYSE: NWS) MySpace is investing heavily in games to go along with its successful music and video offerings, and beginning in January, thanks to a deal with games distributor Oberon, will offer hundreds of free "casual" games, reported the Wall Street Journal (subscription required).
- The European Court of Justice in Luxembourg overturned a law that had been on the books in Germany since 1960 to prevent hostile foreign takeovers, reported the Wall Street Journal. The immediate result is expected to be a takeover attempt by Porsche, a 31% holder of Volkswagen (OTC: VLKAY) shares.
OTHER PAPERS:
- Mobile Telecom company France Telecom (NYSE: FTE) is close to creating a joint venture for long distance operations in India with Indian optical storage manufacturer Moser Baer, reported the Economic Times.
- British financial services company HSBC Holdings (NYSE: HBC) is looking to sell Marbles, the online credit card business it acquired in 2003, reported the Independent.
- The first undersea telecommunications cable linking China and the U.S. -- called the Trans-Pacific Express -- has begun to be constructed, reports the Associated Press, and it's expected to be in place before the Beijing Olympics next July. Verizon Communications (NYSE: VZ) is involved and says the cable will be 11,000 miles long and cost about $500M.
Tags: ap, associated press, AssociatedPress, economic times, EconomicTimes, france telecom, FranceTelecom, fte, hbc, hsbc, independent, myspace, news corp, NewsCorp, newspaper, nws, paper, periodical, verizon, vlkay, volkswagen, vz, wall street journal, WallStreetJournal, wsj
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
