According to Reuters, Australian conglomerate Wesfarmers bought retailer Coles for $18.8 billion, the largest buy-out in Australian history.
Reuters writes that Virgin Media (VMED) is seeking a buyer, and Carlyle Group is considering a $20 billion offer.
Reuters writes that some Apple (AAPL) iPhone buyers have had activation problems getting onto the AT&T (T) network.
The Wall Street Journal writes that Bear Stearns (BSC) may take until July 16 to add up all of the loses from its hedge funds because some of the securities they own are so thinly traded.
The Wall Street Journal says Universal Music may not renew its deal with Apple (AAPL) for a long contract term. It may opt for s shorter deal. Music publishers have been upset about their royalties from the music store.
The Wall Street Journal writes that surveys show the teenagers are more likely to accept ads on social networks if the come in the form of widgets, small interactive software downloads.
The Wall Street Journal writes that Altria (MO) is creating cigarettes aimed at Indonesia, the world’s firth largest cigarette market.
The Wall Street Journal writes that Gap (GPS) is launching a credit card that can earn point for Gap products even if the card is used for charges outside the company’s stores.
The Wall Street Journal writes that music publisher EMI and tech company Snocap have reached a deal so that music artists can sell their albums directly from their own websites.
The New York Times writes that Asia consumer electronics markets are trying to keep from being hurt by the Apple iPhone the way that they were the iPod.
The New York Times writes that Yahoo! (YHOO) is introducing ads targeted by behavior in an attempt to offer a product that its rivals do not have.
The New York Times reports that the Microsoft (MSFT) Xbox Live is being used to market movie and TV show downloads.
FT reports that Kraft (KFT) is in talks with Danone about buying its biscuit unit.
Barron’s writes that Earthlink (ELNK) will probably go through a restructuring to make the company more attractive to investors.
Douglas A. McIntyre
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