Ballmer prepares for bitter battle

Microsoft Corp Chief Executive Officer Steve Ballmer is weighing a fight to oust Yahoo Inc's board and pave the way for a takeover, after the Internet company let his deadline pass without agreeing to a deal.

Company denies rescue plans

Japanese consumer electronics giant Matsushita Electric Industrial Co denied a report yesterday that it may take an equity stake in Sanyo Electric Co to help rehabilitate its smaller rival.

IN BRIEF (Page 16)

Life

Stirring the melting pot

In Tacheng, a city of Xinjiang Uygur autonomous region bordering Kazakhstan, there is a family of 40 people from five ethnic groups.

One country, many ethnicities

China is a united nation of 56 ethnic groups. As the majority (91.6 percent) of the population is of the Han, China's other 55 ethnic groups are customarily referred to as ethnic minorities.

Special supplement: India textile fair meets global needs

With India continuing to grab a greater share of the global textile market, Textile Days India 2008 is set to offer an industry exposition to provide even further synergies.

Business International

Microsoft won't budge on Yahoo bid

Yahoo Inc delivered first-quarter results that eclipsed analysts' modest expectations, but the performance did little to support the Internet pioneer's demands for software maker Microsoft Corp to raise its takeover bid above $45 billion.

VW says profit up 26% on job cuts

Volkswagen AG, Europe's largest automaker, said first-quarter profit rose 26 percent after the company cut jobs in Germany and lured buyers with the new Tiguan compact sport-utility vehicle and an upgraded Audi A4 sedan.

Toyota Q1 sales rise on new markets

Toyota Motor Corp, vying with General Motors Corp to be the world's largest carmaker, increased first-quarter sales 2.7 percent after demand grew in China and other emerging markets.

Ospel: Worst is over for UBS

Outgoing UBS AG chairman Marcel Ospel said yesterday that the worst is over for subprime problems at Switzerland's largest bank and "we soon will be sailing into calmer waters.