 | Good afternoon Bit |  |  | EBay said it will buy e-commerce service provider GSI Commerce for $1.96 billion in cash to build up its online marketplaces, as it ramps up its battle with Amazon.com. GSI is attractive to eBay because of its expertise in taking customer orders, managing them and filling them, which also happens to be an area of strength for Amazon. GSI, which owns Web businesses such as Rue La La and ShopRunner, also provides retailers such as Aeropostale and TJX's Marshalls chains with technology, payment processing and customer care services for their e-commerce sites.
There will be no iPhone 5 announcement at Apple's 2011 Worldwide Developers Conference in June, according to The Wall Street Journal's John Paczkowski. Instead, we should expect a software event, Paczkowski writes, quoting an Apple's WWDC press release: "If you are an iOS or Mac OS X software developer, this is the event that you do not want to miss." He goes on to speculate that the delay may be due to Apple timing the release of a 4G LTE-compatible iPhone 5 with AT&T's expected roll-out of its 4G LTE networks mid year.
Apple "piled another brick onto the ramparts of its walled garden," only considering apps that are sold through the Mac App Store for this year's Apple Design Awards, The Register's Rik Myslewski writes. "This move makes it clear that Apple is enforcing a two-tiered status for Mac OS X apps: those it allows into the store, and those that remain outside it," Myslewski adds.
The Fix, a daily website about drugs, alcohol, addiction and recovery, launched. It was founded by Radar Magazine creator Maer Roshan who, after selling Radar, moved to LA and entered rehab for alcohol abuse, writes The Next Web's Courtney Boyd Myers. "The site will mix serious subjects such as addiction and rehabilitation with humor, celebrity content, feature writing, news, video and Zagat-like reviews of rehab facilities. Imagine an AA after party, hosted by TMZ," Myers says. | | | Twitter co-founder named executive chairman | | March 28, 2011 04:26 PM ET | | SAN FRANCISCO (Reuters) - Twitter co-founder Jack Dorsey is returning to the microblogging company to oversee product development, even as one of Twitter's other founding members cuts back his involvement, the company said on Monday. | Full Article | | | BUSINESS NEWS
| | Telecoms lift Wall Street but gains limited | | March 28, 2011 01:59 PM ET | | NEW YORK (Reuters) - U.S. stocks edged higher on Monday, lifted by strength in the telecommunications sector and an eighth straight monthly rise in consumer spending, but concerns about overseas turmoil kept gains in check. | Full Article | | Consumer spending up, inflation accelerates | | March 28, 2011 11:36 AM ET | | WASHINGTON (Reuters) - U.S. consumer spending rose for an eighth straight month in February, but much of the gain went to cover rising food and energy prices, providing little lift to the economy. | Full Article | | Berkshire took Q4 writedowns under SEC pressure | | March 28, 2011 12:37 PM ET | | NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway took nearly $1 billion in writedowns on three stocks last quarter under pressure from regulators who disagreed with the company's accounting for losses in those shares, according to a series of letters released on Monday. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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