Microsoft, Yahoo! agree on Internet search partnership

Microsoft finally persuaded Yahoo to surrender control of the Internet's second most popular search engine and join it in a daunting battle — taking on the overwhelming dominance of Google in the online advertising market.

A 10-year deal announced Wednesday gives Microsoft its best shot yet to show its new search technology, Bing, is as good as or better than Google's. Microsoft also hopes to use Yahoo to divert sales from Google, which generates more than $20 billion a year from ads.

Gaining access to Yahoo's audience would instantly more than triple Bing's U.S. market share to 28 percent. That's still a far cry from the remarkable 65 percent of U.S. searches handled by Google, according to the research firm comScore Inc.

By joining forces, Microsoft and Yahoo are betting they will be able to focus on their respective strengths. By turning over responsibility for search technology to Microsoft, Yahoo can concentrate on sales of billboard-style advertising on the Web — and figuring out how to keep luring traffic to its Web sites, which already attract more than 570 million people worldwide every month.

While the agreement shapes up as a potential boon for Microsoft, it was greeted in the stock market as a letdown for Yahoo. Just 14 months ago, Microsoft dangled $9 billion in front of Yahoo in an attempt to forge a search advertising partnership, only to be rebuffed. Yahoo had also turned down Microsoft's $47.5 billion bid to buy the entire company.

Yahoo has been struggling so badly since then that Microsoft isn't paying any money in advance. Instead, it will give Yahoo 88 percent of the search ad sales made on its Web site, above the usual commission of 70 to 80 percent.

The job market in India has been sending some mixed signals in recent months. Sentiment related to job security on an observed basis has fallen again in the last month, reaching its lowest level since August 2008, according to Boston Analytic s monthly Consumer Confidence Survey.

In the June survey, approximately 52 per cent of surveyed respondents observed (compared to 12 months ago) a decrease in job security compared to 48 per cent in the May survey, it said.

Export-oriented sectors such as gems, jewellery, textiles and leather have seen large scale layoffs triggered by the global economic downturn.

Sectors like information technology, construction, aviation, financial services and real estate that contributed to India's nine per cent GDP growth also witnessed significant retrenchment, the survey said.

On the expectations front, about 22 per cent respondents (surveyed last month) feel unemployment will decrease in the next 12 months compared to 19 per cent in the May survey, Boston Analytics said.

Vaduvur Lake

With the onset of northeast monsoon, a large number of winged visitors have arrived at Vaduvur sanctuaries in Tiruvarur district.

The sprawling lake at Vaduvur with the Kothandaramaswamy Temple in its backdrop is full of birds giving a pleasant sight to passers-by and tourists.

Other winged visitors in both the sanctuaries are little, cat and large egrets, Ibis, Painted Stork, Grey Pelican, Pintail Duck, Teals and Herons.

The Vaduvur lake, which houses a sanctuary, is 25 km from Thanjavur and attracts more than 30 species of water fowl. A favourite spot for migratory birds, more than 20,000 birds visit this area every year in the months of November and December.

Satyam chief resigns

Satyam chief resigns, admits irregularities; stock down 48%
Chairman of Satyam Computer Ramalinga Raju has resigned from the company’s board. In a letter to the board members, Raju also said that the company reported inflated revenues over years.
In reaction to Raju’s revelations, the stock was hammered by investors and it is down over 48 per cent.
He said that he feared takeover due to poor finance performance. Coming clean on financial irregularities, he said that the company had Rs 1,230 crore worth of understated liability as of September 30. He also revealed that he tried to fill fictitious assets with Maytas deal.
His decision was conveyed to the company’s board members. The company was supposed to hold a board meeting this Saturday