SAP to buy database software maker Sybase German business software maker SAP AG has agreed to buy Sybase Inc. in a $5.8 billion deal that ratchets up SAP's rivalry with database leader Oracle Corp. Oracle's primary business is making database software, an area where it's the world's leader with more than 40 percent of the market. Sybase, based in Dublin, Calif., is a small player in that market, with about 2 or 3 percent market share. SAP is offering $65 for each outstanding share of Sybase's common stock. Sybase's stock hadn't closed above $50 per share since the mid-1990s.
Wal-Mart to boost its donations to food banks Wal-Mart Stores Inc. plans to significantly increase its donations to the nation's food banks to total $2 billion over the next five years, the retail giant said. The company is more than doubling its annual rate of giving. At least $250 million in grants over five years will go to efforts such as programs to feed children during the summer when they're not in school. But the bulk of the donations will consist of more than 1.1 billion pounds of food that doesn't sell or can't be sold.
HTC countersues Apple over mobile patents Taiwanese cell phone maker HTC Corp. is filing a patent complaint against Apple Inc. over its popular gadgets, escalating a legal dispute as new smart phones threaten the iPhone's supremacy. HTC, which makes phones running competing Android software from Google Inc., says it's seeking to block U.S. sales of the iPhone, iPod and iPad devices. Apple filed its own lawsuits against HTC in March, saying HTC's cell phones violate 20 of Apple's iPhone patents.
CEO to retire from CVS Caremark next year CVS Caremark Corp. said its chairman and CEO, Thomas Ryan, will retire next year, and its board has picked retail executive Larry Merlo to succeed him. The Woonsocket, R.I., drugstore chain said Ryan plans to step down in May 2011. The board appointed Merlo, 54, president and chief operating officer and anticipates he will replace Ryan as CEO. He has been in charge of CVS' retail operations since March 1998.
Eurozone's economy grew slightly in quarter The economy of the 16 countries that use the euro currency grew modestly during the first quarter of the year, despite a further big drop in output in debt-laden Greece. The economy grew 0.2 percent in the first three months of the year compared with the previous quarter, E.U. statistics agency Eurostat said.
Spirit pilots set date for possible strike Pilots for Spirit Airlines say they will strike on June 12 if they don't get a new contract with the discount carrier. The declaration came after the pilots' union turned down binding arbitration to settle the dispute, setting in motion a 30-day countdown to a possible strike.
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