Thomson Corp. is planning to acquire Reuters in a $17.5 billion deal that would create the world's largest financial news and information company. Analysts say the deal makes sense and would produce synergies and provide more room for cost-cutting. The resulting company would present a serious threat to Bloomberg LP, the current leader in financial news and information.
Amazon.com agreed to pay an undisclosed sum to IBM as a settlement for their patent dispute going back to last October, the two companies disclosed today. The companies also entered into a long-term cross-licensing agreement that Amazon said gives it more freedom to innovate.
Hewlett-Packard today lifted its forecast of second-quarter revenue by $1 billion to reach $25.5 billion, as a result of unexpectedly strong performance in its personal computer and server divisions. The announcement comes as HP continues to win market share from Dell Computer, which has been struggling to maintain growth.
A preliminary count of the votes from yesterday's Motorola shareholder meeting revealed that Carl Icahn failed to gain a seat on the company's board of directors. If the vote stands, it would be seen as a victory for Motorola's chief executive Edward Zander, whose leadership Icahn challenged.