We have chronicled the slow death of the newspaper industry for a while now. First, there was the thought that maybe the Internet could displace newspapers with the delivery of content in a more timely and personalized manner. Newspapers decided that they were doing just fine and that they were moving into the digital world in a way that could help them maintain their content delivery fiefdom with no problems. Now, we see a landscape of wreckage where some of the most venerable names in newspaper including the Boston Globe are losing value both monetarily and in reputation.
Report: Online Retailers Moving In Right Direction
The news may be a little hard to believe today – the Dow has closed down about 221 points – but a fresh report from Compete says that online retailers aren’t having such a bad holiday season. In fact, thanks to a charge led by Amazon, the latest unique visitor stats are pulling ahead of the levels set in 2007.
Ebay Takes New Direction In China
Ebay has plans to close its site in China and partner with Tom Online Inc. an Internet company based in Beijing. Ebay will have a 49 percent stake in the new venture while Tom Online will have a 51 percent share in the deal. The unnamed site is scheduled to open sometime in 2007.
Oil Prices Change Direction As Dennis Projection Shifts
August contract light sweet crude dropped its rally on Friday aft Hurricane Dennis projections moved the storm away from oil platforms in the Gulf of Mexico. The prices closed at $59.63 a barrel after climbing to $61.90 during the day. Brent crude traded in the IPE in London dropped $1.10 to $58.20.
Venture Capital Investing Heading In The Wrong Direction … Down
Venture capital investing dipped in the third quarter of the year with investments of $4.3 billion.