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Correction to stay on course
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.

BSNL to expand network in Bihar's naxal-affected areas
State-run telecom operator BSNL would expand its network in naxalite-affected areas of Bihar and update facilities in the region bordering Nepal, Union Minister of State for Communications Sachin Pilot said today. "We will lay thrust on expanding our network in the naxal-hit areas of Bihar, besides updating communication facilities in the areas bordering Nepal," Pilot told reporters here.

News of the day

Aptech acquires MAAC for Rs 76 cr
IT training and education major, Aptech, has sealed a major buyout in the animation and multimedia education space by acquiring Maya Academy of Advanced Cinematics (MAAC) for Rs 76 crore.
Small Business

Google in talks to acquire Yelp

Internet search giant Google is in talks to acquire local business review site Yelp for more than $500 million, says a media report. - Katrina , Sania, Rahul most searched on Google in "09 - Rahul Gandhi, Katrina top Indian cyberspace: Google - To encourage the others - Google adds real-time updates to tackle Bing - Guest Column: Real-time search "going mainstream" - Vanita Kohli-Khandekar: The fuss over the Internet">Vanita Kohli-Khandekar: The fuss over the Internet Attributing to people with knowledge of the deal, The New York Times reported Google is in acquisition talks with Yelp. The two companies have had conversations for several years, but a more serious round of acquisition talks began two months ago, the report noted. According to the publication, the firms have discussed a price and are negotiating the details, but have not yet signed an agreement. The report said the size of deal could be more than $500 million. Yelp has raised $31 million in venture capital and is on track to bring in about $30 million in revenue this year. The company was founded in 2004 by two PayPal veterans, Jeremy Stoppelman and Russel Simmons and dominates the market for reviews of local businesses and ads in big American cities, and has listings in Canada and Britain. However, the daily said the deal between Google and Yelp could still unravel, particularly if another acquirer comes forward now that details have leaked. Google has been showing greater interest in the local business market in the United States. It has expanded its profile pages for local businesses, which include location and maps and reviews from other web sites. In June, Google gave local businesses the ability to manage what people see on their profile pages, similar to what Yelp does.


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