Seagate says there's no Chinese buyout
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Seagate quashed reports by the New York Times that Lenovo was considering a buyout of the world's largest disk maker.
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Software giant denies abusing its market position and says it has no intention of unbundling IE and Windows.
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Seagate Technology , the  world's biggest computer disk-drive maker, expects aggressive  moves by rivals to depress industry prices for another year,  longer than most analysts predict, its CEO said on Wednesday.
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Stocks to watch on Wednesday: SEAGATE TECHNOLOGY :
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Investors may be panicking, but Seagate CEO Bill Watkins says business and tech trends paint a different picture than the one on CNBC.
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Non-memory sale to go ahead next month
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Canada's Bank of Nova Scotia   BNS.TO confirmed on Friday it was looking out for   acquisitions in Malaysia but denied a report that it planned to   buy an indirect stake in the country's fourth-biggest lender.
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NEW YORK  - Seagate Technology , the topU.S. maker of hard drives used to store data in computers, onTuesday forecast quarterly revenue above Wall Street estimateson strong demand for storage for larger business computers.
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Sells Seagate OEM drives to end users Online retailer Ebuyer.com has many disgruntled customers knocking at its door after a cock-up with the manufacturer warranty on some of its Seagate hard-drives.â¦
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Could Lenovo be muscling in on US-dominated HDD industry? Rumours are circulating in the heady world of hard disk drives (HDDs) that a Chinese tech firm wants to buy Seagate Technology.â¦
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.
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Lenovo Computers, Chinaâs largest computer maker, said it is in acquisition talks with a major technology company - at the same time that IBM says it is in talks with a major Chinese player to sell its PC making business.
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Computer giant Microsoft will not appeal against an EU order forcing it to provide a stripped-down version of its Windows operating system.
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Storage hardware vendor Iomega has signed a deal to buy sister hardware vendors indirectly owned by the Chinese government in an effort to expand the company&#39;s product line.Iomega will purchase ExcelStor Great Wall Technology, a Cayman Islands company, and Shenzhen ExcelStor Technology, a Chinese company, in a stock deal expected to close in mid-2008, said Thomas Kampfer, Iomega president and chief operating officer. The deal would nearly quadruple the size of Iomega with its revenue going from $300 million a year to about $1.1 billion a year, and the number of employees growing from less than 300 to about 3,000, Kampfer said.ExcelStor has built Iomega&#39;s Rev removable hard drive products since 2004, and more recently, it has built Iomega-branded USB hard drives, Kampfer said. The acquisition will help Iomega branch out into new products, he said, although the company isn&#39;t yet announcing what new products it&#39;s looking at.&quot;For quite some time ... we&#39;ve felt that we have a really great brand,&quot; Kampfer said. &quot;We&#39;ve been searching for ways to expand our product line and gain access to more products, to move ourselves beyond external storage. We haven&#39;t had the resources -- we haven&#39;t had the development resources, we haven&#39;t had the marketing resources. We just aren&#39;t big enough.&quot;In the deal, Iomega will issue about 84 million shares of its stock, worth about $139 million, in exchange for all outstanding ExcelStor shares. The deal would be one of the first times a U.S. company has acquired a company owned by the Chinese government, according to Iomega.The boards of directors at both Iomega and ExcelStor have approved the deal. The purchase must be approved by the Chinese government and shareholders.ExcelStor, which produces more than 20 million devices a year, designs and manufactures digital storage hardware, including hard drives and security storage products. The company sells its products under its own brand and also to original equipment manufacturers.In 2006, ExcelStor had revenue of $707.1 million, according to Iomega.ExcelStor is a subsidiary of Great Wall Technology Co. (GWT), a publicly traded company that manufactures computers and creates software and related products. GWT is an indirect subsidiary of China Electronics Corp., which is owned by the Chinese government.After the deal is completed, GWT and its affiliates will own about 43 percent of Iomega&#39;s stock, making GWT its largest shareholder. China Electronics indirectly owns 62 percent of GWT.Jonathan Huberman will continue as CEO of Iomega, and Kampfer will remain as president and COO, the company said. Eddie Lui, currently CEO of ExcelStor, will become executive chairman of Iomega.&#160;
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China's Foreign Ministry on Tuesday  denied the Chinese government would mount a legal challenge  against BHP Billiton's  proposal to take over rival  Australian miner Rio Tinto .
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Asian search leader Baidu.com denies reports that it will expand into Europe.
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927 employees laid off Seagate is closing one of two manufacturing plants in Northern Ireland, axing 768 permanent and 159 temporary employees.â¦