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AP – Microsoft Corp. has withdrawn its $42.3 billion bid to buy Yahoo Inc., scrapping an attempt to snap up the tarnished Internet icon in hopes of toppling online search and advertising leader Google Inc.

AFP – Microsoft on Saturday yanked its proposal to acquire Yahoo, saying the struggling Internet pioneer refused to budge on price despite the software giant upping its offer to nearly 50 billion dollars.

Reuters – Microsoft Corp walked away from
its bid to buy Yahoo Inc on Saturday after the Internet company
turned down its offer to raise the price by $5 billion to $47.5
billion.

PC World – UPDATE: Microsoft announced Saturday it has dropped its bid for Yahoo, blaming the search firm’s financial demands.

AFP – Mobile telephones have topped the list of gifts sought by South Korean children, a survey said Sunday.

AP – Determined to cut his electricity bill, Darrell Brubaker took the usual steps of raising his air conditioner’s thermostat and cooking more on the grill.

AP – As Yahoo continued to resist Microsoft’s $42 billion takeover offer, a key question was just how far Microsoft’s excitable CEO, Steve Ballmer, was willing to go in hopes of defeating online advertising and search leader Google.

AP – A chronology of events leading to Microsoft Corp.‘s decision to abandon its offer for Web search and advertising competitor Yahoo Inc.:

Reuters – Amazon.com Inc has sued the state
of New York, challenging a new statute requiring Internet
retailers based elsewhere to collect New York sales taxes.