Avis Budget boosts bid for Dollar Thrifty Car rental company Avis Budget Group said it is raising the cash portion of its bid for Dollar Thrifty as it battles Hertz for the potential buyout. Avis said that it will increase the cash component to $40.75 per share from its previous offer of $39.25 per share. The bid also includes 0.6543 shares of Avis Budget Group Inc. stock. Avis contends its new offer is a more than 22 percent premium over Hertz Global Holdings Inc.'s bid, which was valued at $1.17 billion. Avis' former cash-and-stock offer was valued at $1.33 billion.
European Central Bank raises growth outlook The European Central Bank raised its growth projections for the 16-nation eurozone, but stressed that the outlook remains uncertain and said its effort to keep banks supplied with credit would stay in place for the rest of the year. The ECB left its benchmark refinancing rate at a record low of 1 percent for the 16th consecutive month and offered no indication that it might rise anytime soon. The bank is projecting growth this year of 1.4 to 1.8 percent, up from a 1 percent forecast in June.
Facebook users gain ability to log out remotely Facebook is rolling out a new security feature that lets users log out of their accounts remotely from another computer. To do this, go to "account settings" on your Facebook page and click on "change" next to "account security." There, you'll see where else your Facebook account is logged in, including the type of device and the city it's in or near. To log out of any of them, click "end activity." Facebook is making this available over the next couple of weeks. It will be accessible on computers, but not mobile devices.
Time Warner deal includes access to ESPN3 Time Warner Cable Inc. customers will finally get access to the sports website ESPN3.com, even if they are not subscribers of the company's Internet service, according to a long-term deal with the Walt Disney Co. In the deal, 12.7 million Time Warner video subscribers and 2.4 million Bright House Networks video subscribers will get access to ESPN3.com without an extra charge. ESPN3.com offers full game videos, and recently it carried live World Cup matches that built huge audiences via computer screens in the workplace. About 7.4 million people tuned in at one point during the tournament.
Burkle to appeal Barnes & Noble decision Billionaire financier Ron Burkle said he will appeal the dismissal of his lawsuit against bookseller Barnes & Noble over its shareholder rights plan. The Delaware Court of Chancery in August rejected Burkle's claim that the company's "poison pill" limiting any one shareholder's stake to 20 percent was unfair. Burkle, whose Yucaipa Cos. has a 19 percent stake in the company, has criticized Barnes & Noble's management and said the shareholder rights plan unfairly favors chairman Leonard Riggio and his family.
Xerox plans marketing push to tout services Xerox Corp., trying to shuck its image as only a maker of copy machines, plans to double advertising spending as it makes an effort to show that it also is a business-services company. The marketing campaign, which will start Tuesday, features customers including Target Corp. and Marriott International Inc. hiring Xerox to handle tasks like customizing direct mail programs and automating invoices. The ads will run in magazines, on television and in interactive airport billboards.
Renewed Google-AOL deal expands ties Google Inc. will continue to provide the search results on AOL Inc.'s websites under a new, five-year deal the companies signed this week. The agreement largely extends an arrangement that has been in place between the two companies since 2005. But the new contract also expands their cooperation onto AOL sites for cell phones and other mobile gadgets. And it will put AOL video content on Google's YouTube site for the first time.
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