According to Reuters, Ericsson will buy Redback Networks for $2.1 billion expanding the European company;s footprint in the broadbank equipment business.
Reuters writes that Ebay has partnered with Tom Online in China to set up a local auction site. Ebay will close its own local site.
According to the FT, Goldman Sachs paid its CEO $53 million.
According to the Wall Street Journal, discounting of flat-screen TVs is driving high consumer purchase but is harming margins at companies like Circuit City.
According to the WSJ, Dell’s CFO is leaving and will be replaced by former American Airlines CEO Don Carty.
According to the WSJ, UnitedHealth is projecting a 14% increase in profits in 2007.
The New York Times reports that Morgan Stanley will spin-off its Discover Card division.
The New York Times reports that Google’s Checkout online payment system is beginning to get adoption by online retailers.
The New York Times reports that profits at Palm dropped 95% last quarter
Barron’s writes that improved connection speeds and better screeen should make search functions from companies like Yahoo! and Google more accessible on wireless devices in 2007. Music will remain the largest application for wireless phone downloads.
Douglas A. McIntyre.
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