Foxconn may spend $12b to set up shop in Brazil
Chinese manufacturer Foxconn may invest $12 billion to establish operations in Brazil to assemble iPads and other devices, and has approached Brazilian president Dilma Rousseff seeking a partnership.
Mirs, Xfone win out in Israeli 3G auction
Mirs Communications and Marathon's Xfone have both won 3G licenses in a recent Israeli spectrum auction. Each will pay over $200 million for their licenses – over twice the price paid by existing 3G providers Cellcom, Pelephone and Partner.
Vivendi to borrow $5.8b to fund SFR deal
Vivendi is approaching banks to raise over €4 billion ($5.77 billion) to help fund its planned acquisition of the remaining shares in French operator SFR, three sources claimed.
Cisco scales back consumer operations
Cisco will cease production of Flip video cameras, fold a number of its remaining consumer product operations into its existing business divisions and cut 550 jobs, as it seeks to get itself back on track after a run of disappointing financial results which analysts have blamed on its consumer foray.
India's top IT firms set for banner year
Analysts expect India's largest technology firms – Tata Consultancy, Infosys and Wipro – to record strong profit and revenue growth for the year ending in March 2010.
Huffington Post sued over unpaid blogs
A freelance journalist has sued Huffington Post on behalf of unpaid bloggers, arguing they should be compensated for the value they added to the site which has just been sold to AOL for $315 million.
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