Tuesday, May 15, 2007

BUSINESS BRIEFS (AP)

AP, Bloomberg, Reuters, N.Y. Post

May 14, 2007 -- Generics Mylan Laboratories said yesterday it agreed to buy Merck's generic- drug unit for $6.7 billion in cash to become the world's third-largest ge neric drug maker. Mylan is paying more than its own market value to buy a unit with annual sales almost double its own. Mylan beat out Teva Pharmaceuticals Indus tries Ltd. of Israel, the world's largest maker of generic drugs, in a four- month battle. Dine in Macy's plans to test bistros, gourmet restau rants and Starbucks cof fee shops at some stores in an effort to draw cus tomers and keep them shopping longer. The new in-store restaurants and cafes, featuring such famed chefs as Wolfgang Puck and Todd English, come as Federated De partment Stores focuses on building Macy's as a national brand. Feder ated will change its name to Macy's Inc. if shareholders approve the switch at this Fri day's annual meeting. Skype hype Wal-Mart is adding an array of Skype phone gear to the electronics section in 1,800 stores, bringing the renegade provider of cheap calling over the Internet to a huge mainstream audi ence. The dedicated Skype section will fea ture handsets, headsets and Webcams designed to work with Skype, a provider of free and cheap long-distance calls, including to phone numbers abroad. Wal- Mart will also sell the first prepaid cards for Skype calls to be sold in this country, the compa nies will announce today. Yahoo Green Yahoo! is to introduce today Yahoo Green, an online education pro gram that will offer users the latest environmental news, consumer tips and ways to be socially ac tive in combating cli mate change.

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