Rupert Murdoch's News Corp. (NASDAQ:NWS) sold Myspace to ad network Specific Media for $35 million, a far cry from its 2007 valuation of $12 billion, and the $100 million News Corp was expecting from the sale.
News Corp has sold MySpace to Specific Media for $35 million, according to AllThingsD. Just six years ago, it paid $580 million. That's a colossal loss both in percentage terms (-94 percent) and dollar terms (-$545 million).
LivingSocial.com is taking marketshare away from Groupon. Groupon's highly-anticipated IPO could be hurt.
In our view, inflation is on the verge of becoming a significant concern for the global economy
The number of Egyptians injured in protests today is actually more than ten times the amount reported by international media this morning.
Leonard Green & Partners and CVC Capital Partners have agreed to buy BJ's Wholesale Club for $2.8 billion. The move is expected to pit BJ's in more direct competition against Costco in the wholesale club wars as the firms push BJ's, in only 15 states to growth.
Time was, you could 'bank on' certain trends in the United States: ample career positions for new college graduates, rising incomes, and rising home prices. Times have changed, and regarding the latter, today's unforgiving U.S. housing sector makes due diligence all-the-more important for prospective home buyers.
Internet search engine giant Google has launched an offensive on Facebook by taking the wraps off its very own social networking service (SNS) called Google+.
An analyst says the U.S. government should not yet sell its shares in General Motors. The government wants out for political reasons.
On the final stop of a five-day visit to Europe, the Prime Minister of China Wen Jiabao has signed a huge multi-billion euro trading agreement with Germany.
If your adjusted gross income is under $250,000, you may get a reprieve, if the Obama administration's latest deficit reduction proposal becomes law after debt ceiling talks have concluded. The administration is now said-to-be seeking to increase taxes on a narrow slice of the mega-rich, such as owners of private jets.
Ratings agency Moody's says Japan's debt level may lead to the country's third consecutive lost decade.
British Prime Minister David Cameron asserted that he will push Chinese premier Wen Jiabao on the contentious issue of human rights in China, as the two nations have signed a huge trade deal valued at £1.4-billion.
China faces a housing bubble crisis and $1.6 trillion in debt owed by local governments that threatens global economic powers, including the U.S.
President Nicolas Sarkozy announced that France will be investing one billion euros ($1.4 billion) for nuclear power development.
The location-based social networking website, Foursquare Labs Inc., based on software for mobile devices has raised $50 million in new venture capital. Now, the New York-based company is valued at approximately $600 million according to TechCrunch report.
Maker of Blackberry under scrutiny.
One of the many problems hampering the speed and strength of the economic recovery has been the very restrictive lending guidelines that have arisen since the start of the financial crisis.
Ford's $1 billion investment in Lincoln is a direct attack on Toyota's luxury Lexus brand
President Obama will announce a $500 million partnership to spur innovation and create jobs in the manufacturing sector during a speech at Carnegie Mellon University in Pittsburgh Friday.
The top after-market NYSE gainers on Thursday are: Southern Union, Navios Maritime Holdings, Noranda Aluminum Holding, Crexus Investment and Vishay Precision Group. The top after-market NYSE losers are: STR Holdings, Lumber Liquidators Holdings, Energy Transfer Equity, New York & Co and Imation Corp.
Amazon.com founder Jeff Bezos has begun the massive construction of a clock that will run for 10,000 years.
