Last Updated Jun 8, 2007 1:29 PM EDT
- Time Warner is considering spinning off AOL within a year. Although chief executive Robert Parsons is impressed with AOL's progress in selling Internet advertising, the company will reassess whether the division's business model can sustain growth over time. The company is also considering selling its cable services division within the next five years.
- In May, McDonald's saw its largest monthly sales increase of the past three years. The increase of 7.4 percent in U.S. stores was due to a popular Shrek the Third tie-in with not only happy meals but also healthier food items such as milk, apple slices, and salads. European sales increased on the success of healthier chicken sandwiches and snack wraps.
- Qualcomm semiconductors will be banned from new mobile phones sold in the U.S. after a ruling by the U.S. International Trade Commission in a patent infringement case with Broadcom. Phones produced before June 7 will not be affected by the ban. Verizon Wireless and Qualcomm said they would seek to overturn the decision, which could affect tens of millions of mobile phone handsets.
- The U.S. trade deficit narrowed by a more-than-expected 6.2 percent in April. The weak dollar and booming European and Asian economies helped boost exports, and demand for imports waned. Analysts project that the improvement in the trade deficit will accelerate the growth of the gross domestic product in the second quarter of this year.