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AP Business NewsBrief at 5:00 p.m. EDT
(AP Online Via Acquire Media NewsEdge) Yahoo CEO on hot seat after rebuffing Microsoft's $47.5B bidSAN FRANCISCO (AP) _ Yahoo Inc. Chief Executive Jerry Yang has gotten what he wanted: a chance to prove his company is worth more than the $47.5 billion that Microsoft Corp. offered to buy the Internet pioneer. It will be a daunting challenge, as Yang will be pointedly reminded Monday when investors are expected to show how little they think of Yahoo without a takeover bid on the table. Faced with resistance from Yang and the rest of Yahoo's board, Microsoft withdrew its offer over the weekend.
Competitive zeal of Ballmer key element in Yahoo chaseREDMOND, Wash. (AP) _ As Yahoo continued to resist Microsoft's $42 billion takeover offer, a key question was just how far Microsoft's excitable CEO, Steve Ballmer, was willing to go in hopes of defeating online advertising and search leader Google. For now, it seems Ballmer has kept his passionate side in check in choosing to walk away from a deal over the weekend rather than raise the bid amount or launch a hostile takeover.
US-backed plan sees shiny future for embattled Green ZoneBAGHDAD (AP) _ Forget the rocket attacks, concrete blast walls and lack of a sewer system. Now try to imagine luxury hotels, a shopping center and even condos in the heart of Baghdad. That's all part of a five-year development "dream list" _ or what some dub an improbable fantasy _ to transform the U.S.-protected Green Zone from a walled fortress into a centerpiece for Baghdad's future.
Corporate boards' pay grows with workload, regulationsOMAHA, Neb. (AP) _ After ConAgra Foods' board slashed the company's dividend by 34 percent as part of a restructuring plan, a few shareholders suggested the board should also feel the pain and slash its own pay by roughly one-third. Not surprisingly, the suggestion shareholder Don Hudgens made during the 2006 annual meeting, didn't fly even though former ConAgra chief executive Mike Harper supported that idea. Board chairman Steven Goldstone was quick to defend what ConAgra pays its directors, saying it is difficult to find and keep good people on the board.
Streak of trouble with FDA, other problems hits MerckTRENTON, N.J. (AP) _ The roller coaster ride for Merck & Co. shareholders and employees is on another speedy downhill run. In barely a week, Merck has suffered a stunning streak of setbacks, including federal regulators rejecting two experimental drugs and publicly demanding the drugmaker clean up significant problems at its main vaccine plant.
China farms the world to feed a ravenous economyCHALEUNSOUK, Laos (AP) _ The rice fields that blanketed this remote mountain village for generations are gone. In their place rise neat rows of young rubber trees _ their sap destined for China. All 60 families in this dirt-poor, mud-caked village of gaunt men and hunched women are now growing rubber, like thousands of others across the rugged mountains of northern Laos. They hope in coming years to reap huge profits from the tremendous demand for rubber just across the frontier in China.
Wall Street looks for more evidence to justify a rallyNEW YORK (AP) _ Wall Street goes into the new week in an upbeat mood, with investors growing more confident that the economy and the financial markets are heading toward a second-half recovery. There's been a steady stream lately of decent earnings reports and mostly benign economic data, and there's a sense that the credit crisis that pummeled stocks since last fall is nearing an end. For the first time in weeks, there's optimism that the government might have actually staved off a deep recession.
Buffett and Munger reassure shareholders about successionOMAHA, Neb. (AP) _ Warren Buffett tried to reassure his shareholders Saturday that Berkshire Hathaway will be fine once he is gone, but the 77-year-old billionaire offered few new details of the company's succession plan. Berkshire vice chairman Charlie Munger may have done more to reassure the roughly 31,000 shareholders at the company's annual meeting.
Amtrak plans multi-city celebration of 'National Train Day'WASHINGTON (AP) _ Amtrak is hoping live entertainment, exhibits and a national TV personality will lure people who don't normally take the train into its stations _ and then inspire them to return to ride the rails another day. Dubbed "National Train Day," the May 10 effort includes a performance by singer-songwriter Sara Bareilles in Washington's Union Station. Al Roker, of NBC's "Today" show, is serving as the official spokesman and will host the Washington events.
Smarter electric grid could be key to saving powerMILTON, Ontario (AP) _ The glowing amber dot on a light switch in the entryway of George Tsapoitis' house offers a clue about the future of electricity. A few times this summer, when millions of air conditioners strain the Toronto region's power grid, that pencil-tip-sized amber dot will blink. It will be asking Tsapoitis to turn the switch off _ unless he's already programmed his house to make that move for him.
Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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