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Financial News Network
May 19, 2011 AT 7:05 PM
This is what's in the news for Thursday, May 19, 2011. The Register reports that Cisco (NASDAQ:CSCO) is considering the sale of its Linksys consumer router business. The company may sell its WebEx brand as well. The moves could come as early as next week. the Wall Street Journal reports that discount retail chain Big Lots (NYSE:BIG) decided not to sell itself after bids from private equity firms came in below the company's expectations. Bloomberg reports that Sony (NYSE:SNE) Chairman Howard Stringer said the hacker attack that crippled the company's online entertainment services and exposed more than 100M customer accounts was a hiccup in its Internet strategy. CNet reports that Apple (NASDAQ:AAPL) signed a cloud music licensing agreements with EMI Music and Warner Music Group and is close to finalizing deals with Sony Music Entertainment (NYSE:SNE) and Universal Music Group. Reuters reports that China Mobile (NYSE:CHL) is seeking acquisition opportunities in emerging markets to expand its foothold overseas. Finally, the Financial Times reports that General Electric (NYSE:GE) is planning to make share buybacks totaling about $12B over the next few years.