Yahoo has formally ended talks with Microsoft, which had been looking to possibly acquire Yahoo or just buy its portal search business. Following the announcement, Yahoo’s stock fell 13 percent. Yahoo is expected to announce a deal with Google in which it would outsource part of it search engine advertising business.
Corn advanced to a record high for the sixth consecutive day on speculation that the United States may reduce its crop forecast this year. Soybeans gained to a three-month high. Heavy rains in the Midwest have flooded fields and may reduce output.
“Three leading shareholders in AIG stepped up their campaign to shake up the board of the company, calling for ‘significant and immediate changes’ to the management of the US insurance group,” The Financial Times reports.
InBev's $46 billion offer for Anheuser-Busch sent shares of both brewers higher in early action on Thursday. Anheuser-Busch shares shot up 8% to $63.53 a share and InBev shares also were stronger, rising 3.6% to 49 euros in Brussels.
Zimbabwean officials have arrested opposition leader Tendai Biti on charges on treason. They claim to have a document published by Biti that talks about foreign countries taking over Zimbawean institutions. Biti faces the death penalty or life in prison if convicted.
The BBC reports that it has obtained documents suggesting that Zimbabwe’s army is actively involved in running Robert Mugabe’s reelection campaign. The documents outline plans to drive out opposition supporters.
An explosion in the Gaza Strip killed seven Palestinians. Hamas blamed Israel and launched a rocket attack; Israel responded with an airstrike that killed one. Hamas later determined that the original explosion was an accident.
Europe has introduced new restrictions on producers of chemicals linked to cancer and other health problems. The new European Union laws require companies to demonstrate that a product is safe before it enters the market.
Alex Kozinski, chief judge of the U.S. 9th Circuit Court of Appeals, has acknowledged that he posted sexually explicit materials on his personal Web site. According to the Los Angeles Times, “Some of the material was inappropriate, he conceded, although he defended other sexually explicit content as ‘funny.’”
The Supreme Court ruled that Guantanamo detainees have a right to challenge their detention in federal court. Justice Anthony Kennedy wrote, “The laws and Constitution are designed to survive, and remain in force, in extraordinary times. Liberty and security can be reconciled; and in our system they are reconciled within the framework of the law.”
“Democratic National Chairman Howard Dean said Wednesday the party still has work to do to unify itself behind Sen. Barack Obama, especially among people who remained ‘resistant and reluctant’ over his presidential candidacy,” The Washington Times reports.
Texas Rangers outfielder Milton Bradley had to be restrained from confronting Kansas City Royals announcer Ryan Lefebvre during Wednesday night’s game after he heard Lefebvre making critical comments about him. Bradley explained, “All I wanted to do was introduce myself and tell him the stuff you're talking about is uncalled for.”
The 108th U.S. Open began in San Diego Thursday morning. The U.S. Golf Association announced last week that Tiger Woods, No. 1 in the world rankings, Phil Mickelson, No. 2, and Adam Scott, No. 3, would play the first 36 holes together.
Grey’s Anatomy star Katherine Heigl has removed herself from Emmy consideration. Heigl, who won Outstanding Supporting Actress in a Drama last year, said, “I did not feel that I was given the material this season to warrant an Emmy nomination and in an effort to maintain the integrity of the academy organization, I withdrew my name from contention.”
Forbes has released its list of “The Celebrity 100.” Talk show host Oprah Winfrey remained in first place for the second year in a row, “a power ranking based on both earnings and fame,” with an annual income of $275 million.