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SK TELECOM AGREED to invest up to $270 million in Helio, its wireless joint venture with EarthLink that has been hemorrhaging funds.
* * * Technology shares rebounded Friday, led by strong earnings from Oracle, but Harman shares sank on news that the company's buyers are balking at the deal.
* * * Texas Instruments said it will buy back another $5 billion of its stock and boost its quarterly dividend by 25%.
* * * Steve Jobs received a subpoena from the SEC to answer questions in an options backdating case against Apple's former general counsel.
* * * NEC said it would be unable to file financial reports required by U.S. regulators, raising the likelihood the Japanese electronics maker's Nasdaq-traded American depositary receipts will be de-listed.
* * * Circuit City posted a wider-than-expected loss and warned of continued weakness as the chain struggles to update stores and hold onto sales.
* * * Sony promised to improve its dealings with videogame publishers, but left unchanged the price of its PlayStation 3. The company also delayed the launch of a virtual world called "Home."
* * * Sharp said it will take a 14.3% stake in Pioneer, in a deal that could herald the latest chapter of restructuring in Japan's overcrowded electronics industry.
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BREAKING NEWS:
U.S. manufacturer Simplicity plans to recall 1 million Chinese-made baby cribs that have been linked to the deaths of at least two infants. Full article coming soon.
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