MySpace, the social networking site and MTV networks are all set to launch a new technology, which would allow them to make profit from piracy.

MySpace and Auditude are working together with Viacom’s MTV to earn money from video clips put online by users in breaching of copyright. Auditude is an online advertising technology company.

It is quite common for people to update video content every day to popular sites such as YouTube or MySpace through the help of simple technology, even when they do not own the rights to the content being uploaded. This content is usually removed once the copyright owners complain about it to MySpace or Google, which owns YouTube. MySpace is owned by News Corporation, parent company of The Times.

In order to mollify antitrust regulators who are threatening to block the alliance, a list of concessions has reportedly been submitted by Google Inc. and Yahoo Inc. This list will deflate their proposed Internet advertising partnership.

During the weekend, the U.S. Justice Department received the revisions from the two companies.

US credit card and banking giant, American Express is likely to start retrenchment drive in India and other locations. It would retrench about 10 percent workforce, cutting around 7,000 jobs. The staff would be eliminated in all business units, including markets and staff groups. Some staff in its Indian operations is also likely to be laid off.

The South Korean steel giant, Posco-India is committed to complete Posco's Orissa project, despite global financial crisis. The director of Posco-India project, Mr Sung said that the global slowdown would not affect the project and company would go for Rs 51,000 crore projects in Orissa. He also reviewed the work of the project in a meeting called by the chief secretary Mr Ajit Tripathy.

In a formal announcement, one of the leading financial services groups of India, Religare Enterprises (REL), confirmed that it has agreed to acquire Lotus India asset management company (Lotus India AMC) from its majority shareholders - Alexandra Fund Management and Sabre Capital.

Informing the Bombay Stock Exchange of the intended proceedings, REL said that its board of directors has approved a proposal to discuss, negotiate and finalize the terms for acquiring 100 per cent or majority equity shareholding of Lotus.

India's largest telecom major, Bharti Airtel has set a target of $10-bn revenue by next year. It is asserted by chairman and managing director, Bharti Enterprises, Sunil Bharti Mittal in the sidelines of a function, organized to launch new brand identity and logo of Bharti group.

He said that Indian telecom sector is emerged as a strong sector and it is hardy impacted by slowdown. Indian telecom companies provide call services at very low prices and they are increasing by volumes. Bharti Airtel is the largest telecom company of the country, having nearly 80 million customers. It contributes about 85% in the revenue of Bharti group.