Thomson agrees to buy Reuters for $ 17.2 billion
Thomson Corp. has agreed to buy Reuters for about 8.7 billion pounds ($17.2 billion) to create the world's biggest financial news and data group. The combination of these two great businesses will create an exceptional global information company guided by the Reuters Trust Principles," Reuters Chief Executive Tom Glocer said. The new dual-listed Thomson-Reuters will have revenues of about $12 billion and almost 49,000 employees. Thomson and Reuters news and financial businesses will be called Reuters. Other existing Thomson businesses will be known as Thomson-Reuters Professional.
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Wolfowitz resigns, Bush to nominate successor soon
Paul Wolfowitz resigned as President of the World Bank on Thursday, ending a protracted battle over his stewardship prompted by his involvement in a high-paying promotion for his companion. His resignation takes effect on June 30. U.S. President George W. Bush reluctantly accepted the resignation and would have preferred he stay at the bank, White House spokesman Tony Fratto said. He said Bush would soon name a candidate to succeed Wolfowitz. European board officials said Wolfowitz decided on Wednesday to resign after he realized he had lost the support of developing countries, including those in
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http://www.signonsandiego.com/news/business/20070521-1606-worldbank-bush.html
Internet:
Google Inc. said on Wednesday it is combining its different Web search services into one "Universal Search" service that will present Web sites, news, video and other results on one page. In addition, the company is introducing new navigation features at the top of every Google page that let users to quickly hop between its different properties. The company also is preparing a translation service that converts queries into other languages, allowing a user to comb a broader swath of the Web, Google's Vice President of Engineering, Udi Manber, said at the event. The technique will translate queries in any of a dozen languages into English, find additional search results, then automatically translate those back into the language of the original query. This will give users in any supported language a broader view of information on the Web.
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http://economictimes.indiatimes.com/Google_search_gets_a_universal_glow/articleshow/2056865.cms
Rafael Nadal Breaks 22 Year Old Record Set By John McEnroe
Somewhere in the world John McEnroe may being throwing his racket at the ground and screaming at the television because Spanish hottie Rafael Nadal extended his winning streak on clay court matches won to 76. This most recent win over fourth-ranked Nikolay Davydenko in the semifinals of the Rome Masters on Saturday, broke a 22 year old record set by McEnroe for most victories on one surface. Rafael Nadal racked up his third Rome Masters title in a row when he cruised to a 6-2, 6-2 victory over sixth seed Fernando Gonzalez on 17th May 2007, the win gave Nadal his 13th consecutive clay court title and extended his winning streak on the surface to 77 matches.
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Tax Audit Limit Increased from 30 to 45
The maximum limit of Tax Audit for a member in practice, as individual or as a partner in a firm, was fixed at 30 as back as in 1989 with the objective of ensuring quality and equitable distribution of work. In view of fast expanding economy and increase in number of such assignments coinciding with enhancement of professional competence of members to perform quality services in an IT-enabled environment, it was decided to review the maximum Tax Audit limit. As such, the Council of the Institute at its 268th meeting held from 30th April to
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