Yahoo deal buzz

London, Nov. 30: Microsoft is in talks to buy the online search business of Yahoo for about $20 billion. A few months back, Yahoo had spurned a takeover bid from Microsoft worth more than $47 billion. “Microsoft is in discussion to acquire Yahoo’s online search business for $20 billion. Microsoft will support a new management team to take control of Yahoo,” The Sunday Times has reported.

Oil output

Tehran, Nov. 30: Crude producer Iran has said that the world oil market was oversupplied by two million barrels a day after the Opec decided to leave its oil output quota unchanged amid falling prices. “There is oversupply of two million barrels per day in the market and we seek a balance between demand and supply,” Iran’s oil minister Gholam Hossein Nozari said.

Growth show

Mumbai, Nov. 30: Industrial output is expected to grow 6.3 per cent in the next fiscal compared with the earlier estimates of 8.3 per cent, the Centre for Monitoring Indian Economy said.

Stock value

New York, Nov. 30: The collective value of Indian stocks trading on the American markets tumbled nearly $3 billion in November, with IT major Infosys Technologies alone witnessing an erosion of $1.73 billion.

PSU stir off

New Delhi, Nov. 30: The executives of oil PSUs have called off their proposed indefinite strike from December 2 following negotiations along with pressure from the government.