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Microsoft announced that Windows 7 will be released on October 22. The company is currently sending the new operating system to PC manufacturers eager to replace the failed Vista OS. Windows 7 will reportedly boot up to 40% faster than Vista.
Yahoo signed a deal with AT&T’s YellowPages.com to sell display ads alongside listings. The deal finds both Yahoo and AT&T moving into the hyper local advertising business, providing small businesses the chance to advertise to a large scale of targeted local users.
Yahoo is also reportedly looking to sell both its HotJobs.com property and its Yahoo Small Business division. Yahoo, which purchased HotJobs eight years ago for $436 million, hopes to sell the property to a competitor like CareerBuilder or Monster. In addition, Carol Bartz and Co. are in advanced talks to acquire email-social networking start-up Xoopit.
Amazon acquired Zappos.com for approximately $807 million. While Amazon purchased the popular online shoe store in an all-stock deal, it plans on including an extra $40 million in cash and stock options for Zappos.com employees. Despite the takeover, Zappos.com CEO Tony Hsieh noted that Zappos will operate independently of Amazon.
LG Electronics reported record profits for the second quarter totaling roughly $917 million. The South Korean mobile phone and LCD television manufacturer noted that sales for LCD TV’s were up 10% during the quarter. The positive financial report is a major plus for LG, which reported loses for the last two quarters, and may signal that the Asian technology world is stabilizing itself despite the foggy economic climate.