Kerkorian bids for GM stake sparks stock surge
Billionaire Kerkorian through Tracinda offers near 870 million dollars for about 5 percent of General Motors, lifting shares over 18 percent amid questions about his motives. GM dives to decade lows on quarterly loss and rising costs, while UAW signals no talks before 2007.
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Kirk Kerkorian
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Service sector grows for 25th straight month
The Institute for Supply Management reports April service activity at 61.7, down from 63.1 in March but still expanding above 50. Utilities, insurance, retail and real estate grew while transportation and legal services held steady. nonmanufacturing employment also rose to 53.3, the 19th straight month of growth despite a slower pace. The market rose as oil prices fell and Kerkorian increased his General Motors stake, with the Dow up 65.46 points to 10,322.41.
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New York
U.S
Institute For Supply Management
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General Motors Corp
Microsoft offers licenses to its technology to startups
Microsoft Corp seeks revenue from spare tech by licensing tamper proof ID software and audio enhancement tricks to entrepreneurs and venture capitalists. The program aims to help startups access Microsoft research, create new companies and jobs, with part ownership or royalties for rights to the company’s technology.
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Seattle
Microsoft Corp
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