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Apple unveiled new software for the iPhone yesterday at a conference in Cupertino, CA. The company also revealed new tools available to developers to build software applications for the iPhone. For users, the new iPhone update will finally allow for the copying-and-pasting of both pictures and text, a major flaw in former operating systems.

IBM is in talks to purchase Sun Microsystems. Sources say IBM could pay up to $6.5 billion in cash for Sun Microsystems, who could potentially increase IBM’s web presence, as well as its share of the finance and telecommunications market. Sun, which has been struggling as of late, has shopped itself to other companies in recent months, including H-P, who declined an offer.

WPP and Google have teamed to fund a research project which studies how ads in both traditional and digital media work hand in hand. The three year study, which has a budget of roughly $4.6 million, may be a key determining factor in getting companies to increase their marketing and advertising budgets amidst declines in media spending. The study will cover such essentials as how to determine where ad dollars are best spent, and what number of ads will effectively increase a brands sales and image.

Guy Hands announced that he will step down as CEO of British investment company Terra Firma. Hands, who has been with the company for seven years, is responsible for its investment in EMI, and was once touted as the savior for the recorded music company. Hands will remain Chairmen and CIO, while Tim Pryce will become CEO.

Nielsen reports that media spending fell 2.8% in 2008, year over year, with total spending at $136.8 billion. Influenced by tough economic times, the top ten advertisers spent approximately 15% less than in 2007. Despite numbers being down around the board, television advertising was clearly the preferred medium of choice, with 60% of ad money spent on network, cable, hispanic, and spot TV.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.



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