AP - With Microsoft's $47.5 billion takeover bid off the table and his company's stock price down 20 percent during his 13-month reign as Yahoo's CEO, Jerry Yang has a message for his exasperated shareholders: Things aren't as bleak as they look.

Reuters - Microsoft Corp will turn to users of its Xbox 360 to create new video games and broaden the types of games available on its console, taking a page out of the strategy books of Facebook and YouTube.

AFP - Ericsson, the world leader in mobile phone network equipment, reported a 70 percent collapse in net profit for the second quarter on Tuesday and a two-thirds fall in operating margins.

AP - Shares of Apple Inc. fell sharply as investors focused more on the company's cautious guidance for the current quarter than on the blockbuster Macintosh and iPod sales during the previous three-month period.