BRIEFCASE.Byline: -- Staff and Wire Services Nokia, Siemens to merge forces FRANKFURT, Germany -- Nokia Corp. and Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. said Monday they will combine their network equipment units in a reported $30 billion joint venture to more effectively take on market leader LM Ericsson. The combination -- to be called Nokia Siemens Networks Nokia Siemens Networks (NSN) is a telecommunications solutions supplier which was created as the result of a merger (by means of a 50-50 joint venture) between Siemens AG's COM division (minus its Enterprise business unit) and Nokia's Network Business Group. -- would create one of the largest players in the industry, with $20 billion in annual sales. Besides Ericsson, it also puts pressure on Lucent, Alcatel, Motorola and Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony . The 50-50 venture would include Nokia's network business group and Siemens' carrier-related operations, creating estimated savings of $1.9 billion by 2010 through an estimated 9,000 job cuts globally, Nokia said. New Microsoft IM program released REDMOND, Wash. -- Microsoft Corp.'s latest instant messaging Exchanging text messages in real time between two or more people logged into a particular instant messaging (IM) service. Instant messaging is more interactive than e-mail because messages are sent immediately, whereas e-mail messages can be queued up in a mail server for seconds or program is ready for prime time, the company said Monday. Windows Live Messenger Microsoft's instant messaging (IM) service, which provides text messaging, voice calling, file sharing and video phoning. Windows Live Messenger combines the previous MSN Messenger and Windows Messenger clients into one system under the Windows Live umbrella. , previously available in test form, officially launches today. The free program is an upgrade to MSN Messenger, the previous name for the software maker's tool for quickly communicating online. Such products have become incredibly popular for a wide variety of audiences, from teens to business people. The basic service gives people a way to quickly type messages back and forth. Live Messenger also offers video calling and ways to easily share files, among other features. Competitors, including market leader AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , also are adding such functions. On Monday, Yahoo Inc. said it was opening up its messaging service so that outside developers can create programs that plug into it. Alberto-Culver splits with Sally MELROSE PARK, Ill. -- Hair care products maker Alberto-Culver Co. said Monday it will spin off its Sally Beauty business into a separately traded company after its sale to Regis Corp. fell apart earlier this year. The unit, the world's biggest seller of professional beauty supplies, will become a stand-alone company stand-alone company An independent operating firm. For example, a large diversified firm may consider spinning off a subsidiary because, as a stand-alone company, the subsidiary would command a higher price-earnings ratio than the parent. called Sally Beauty Co., operating 2,465 Sally Beauty stores, 825 Beauty Systems Group outlets and 1,181 sales employees. It generated $2.3 billion in sales for the 12 months ended March 31, with pretax operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before of $244 million. The spinoff will leave Alberto-Culver with its core consumer products business, which generated revenue of $1.4 billion and pretax operating earnings of nearly $140 million in the 12 months ended March 31. The company said the move will help it focus on its Alberto VO5, St. Ives, Nexxus and other consumer brands. Goldman names two presidents NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Shoring up its leadership team after the departure of Henry Paulson to take over the U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Department, Goldman Sachs Group Inc. has named two presidents and co-chief operating officers and a new vice chairman to assist incoming chief executive Lloyd Blankfein. Jon Winkelried and Gary Cohn will serve as presidents and co-COOs under Blankfein. Winkelried was most recently co-head of Goldman Sachs investment banking division, while Cohn co-headed the company's global securities trading business. Vonage slapped with Verizon suit Vonage, the Internet telephone startup, said on Monday that it was being sued by Verizon Communications in a dispute over the underlying technology that allows voice calls to be delivered over the Internet. The lawsuit adds a new challenge for Vonage, which has seen its stock price slide precipitously since it went public last month. Word of the suit caused Vonage's shares to fall 11.7 percent to $8.48 on Monday. |
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