|Google Inc partners with Sony Corporation to enter UK "smart TV" market ahead of Apple Inc|
|Tuesday, 26 June 2012 08:29|
News round up: Google, Sony, Apple, Microsoft, Samsung, European Union, Xstrata and BT Vision.
Microsoft is buying the social network site Yammer for $1.2bn in a deal that will allow the software giant to offer Facebook-like services to corporate customers. Yammer, which was created in 2008 and has five million corporate users at more than 200,000 companies, enables businesses to create private social networks in which employees can chat, share files and collaborate on projects.
Japanese technology giants Sony and Panasonic are joining forces in a bid to steal a march on their Korean rivals Samsung and LG in the race to develop the next generation of television sets. The two companies are to co-operate on developing screens based on OLED (organic light emitting diode) technology with the aim of establishing mass-production in 2013.
David Cameron has been warned by one of the country’s leading bankers that the biggest threat to the City is the possibility of Britain leaving the European Union. Peter Sands, the chief executive of Standard Chartered, had a breakfast meeting with the Prime Minister on Monday during which he is understood to have raised concerns over a British breakaway.
One of the City’s most powerful fund managers has effectively called on Mick Davis to step down as chief executive of Xstrata as the price of a successful merger with Glencore. David Cumming, the head of UK equities at Standard Life Investments, said that shareholder hostility to retention payments for senior Xstrata managers, including a £29m handout to Mr Davis, meant that the merger was now "in jeopardy".
BT Vision will lose £240m on its gamble to buy into Premier League football coverage, analysts have claimed. The telecoms giant made a surprise foray into the market for Premier League rights earlier this month, paying £738m for 114 matches. However, it is forecast to recoup only two thirds of that investment.
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