IBT Staff Reporter

India's Tata group announced on Tuesday it is buying a 26 percent stake in InfraCo, a new South Africa-based telecommunications company.

Sony Pictures Entertainment has acquired Grouper Networks, a video sharing Web site for $65 million.

High-speed internet connections are on the incline in both the United States and Britain, according to industry experts.

The Association of Southeast Asian Nations has agreed to accelerate plans to form a single economic community by five years. This is in response to growing competition for investment from fast-growing Chinese and Indian economies, Asean officials said on Tuesday.

California Gov. Arnold Schwarzenegger and state lawmakers reached a deal late Monday to hike the minimum wage to the highest level in the nation, aides said on Tuesday.

U.S. mortgage applications rose for a third straight week as homeowners with adjustable loans took advantage of falling interest rates, data from the industry's main trade group showed on Wednesday.

He was a high-flying investment banker capitalizing on the late 90s technology bubble, setting up deals to launch billion dollar IPOs. Now, after three years of court battles against the government involving charges that he obstructed an investigation, Frank Quattrone is free to pursue his business once again.

Sun Microsystems Inc. regained the No. 3 ranking from Dell Inc. in the market for business server computers in the second quarter as it launched new products, researcher IDC said on Tuesday.

Facebook and Microsoft Corp on Wednesday said the world's largest software maker will become the exclusive provider of banner advertising and sponsored links on the social networking Web site as part of a strategic alliance.

Microsoft Corp. will release new versions of its Windows operating system in South Korea on Thursday to comply with an anti-trust ruling, a company source said on Wednesday.

Google Inc., the world's biggest Internet search engine, said on Wednesday it is opening the Japanese-language version of its email service to anyone who wants to sign up.

Gateway Inc. has received an unsolicited offer from eMachines founder Lap Shun Hui to acquire the computer and printer maker's retail operations for $450 million.

Japanese video game maker Nintendo Co. expects to price its new Wii gaming console below 250 euros ($321.50) in Europe, its head of German operations said on Wednesday.

A federal judge in San Francisco on Tuesday allowed video rental giant Blockbuster Inc to go forward with anti-trust claims against online rival Netflix Inc, which has sued Blockbuster for alleged patent violations.

IBM, the world's largest information-technology company, on Wednesday said it agreed to buy Internet Security Systems Inc. for $1.3 billion, continuing an acquisition drive to fuel growth.

Weyerhaeuser Co. on Wednesday said it agreed to merge its fine paper business and related assets with Domtar Inc. n a $3.3 billion transaction.

French car group Renault had no comment on Wednesday on a report that Bill Ford had called its chairman and chief executive Carlos Ghosn to explore possible cooperation.

1Nestle SA, the world's biggest food and drink company, reported an 11 percent rise in first-half net profit Wednesday thanks to cost cutting and internal growth and despite higher raw material prices.

Dell Inc. said on Tuesday Chief Executive Kevin Rollins continues to enjoy the full support of founder and Chairman Michael Dell despite suggestions by some analysts that the world's No. 1 personal computer maker needs new leadership to revive growth.

YouTube, the popular online video sharing company, said on Tuesday it will introduce video advertising, its latest step to boost revenue.

A U.S. federal court judge on Tuesday approved a settlement that would let former star technology investment banker Frank Quattrone avoid a third trial for obstructing justice, opening the door for him to resume his career on Wall Street.

SanDisk, the flash memory manufacturer, unveiled on Monday a model with 8gigabytes of storage capacity, enabling it to save up to 2000 songs - twice the capacity of the best-selling Nano.

Cisco Systems will acquire on-demand video software company Arroyo Video Systems for US$92 million the company said Monday afternoon.

U.S. chain store sales were mixed last week, as solid demand for back-to-school items were offset by cooler weather and the end of sales tax holidays, two reports showed on Tuesday.

Sprint Nextel Corp. said on Monday Chief Operating Officer Len Lauer was leaving the company and his responsibilities would be assumed by Chief Executive Gary Forsee amid moves to improve the company's performance after two quarters that disappointed investors.

Ford Motor Co., which is facing mounting pressure to reduce its reliance on gas-guzzling trucks, on Tuesday said it would begin selling a new diesel version of its Super Duty pickup in early 2007.

Closely held YouTube Inc., a video Web site, is expanding the type of advertisements it sells to include videos on its home page and on special advertiser-created pages, the Wall Street Journal reported on Tuesday, citing company executives.

Friendster Inc. said on Monday it received $10 million in new funding to expand abroad and help its pioneering social-networking site survive in a market dominated by younger successors who stole its thunder.

Global sales of liquid crystal display (LCD) TVs jumped 135 percent in the April-June quarter from a year earlier to a record 9.4 million units, led by Philips Electronics with a 13.5 percent share, a research firm said.