HP to acquire Palm Inc for about 1 billion dollars
Hewlett-Packard Co agrees to buy Palm Inc in cash at 5.70 per Palm share, valuing Palm around 1 billion. Palm, known for the Palm Pilot and webOS, struggled to compete with iPhone BlackBerry and Android devices as HP eyed a broader mobile strategy.
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Spain credit downgrade fuels eurozone debt fears
Spain's credit rating was cut amid fears its debt woes threaten the euro. Germany pushed to speed its share of a near 60 billion bailout with the IMF, aiming to unlock aid for Greece by a May deadline. Investors reacted as markets closed lower, amid uncertainty over Greece's actual funding needs and future of the euro.
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Corporate profits surge as economy strengthens in early 2009
United States companies across sectors report first quarter profits well above year earlier levels as consumer spending rebounds. Analysts cite a 76 percent year over year rise in S&P 500 operating earnings, with Ford, Caterpillar, Royal Caribbean and UPS among notable improvers while unemployment remains high and housing struggles persist. The mood turns cautiously optimistic about a durable recovery.
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