Microsoft Chief Executive Steve Ballmer says he’s still interested in buying Yahoo!, or at least part of it. Even though Yahoo’s previous management spurned a takeover bid last year from Microsoft, the software giant’s chairman and CEO said on Mar. 19 that he has spoken by phone with new CEO Carol Bartz and that he “sees a real opportunity for a deal.”

“There is a fairly compelling set of economics that underpin a search partnership,” Ballmer said in an interview with BusinessWeek Editor-in-Chief Stephen Adler during the McGraw-Hill Media Summit in New York. “When [Bartz] is ready, we will have a discussion.”

Source: BusinessWeek

House Passes Bonus Tax Bill

The House passed legislation Thursday that would significantly curb Wall Street bonuses this year, as lawmakers from both parties echoed popular outrage over big payouts to employees of American International Group. after the ailing insurance giant took billions of dollars in taxpayer money. The House measure was approved on a 328-93 vote and would impose a 90% surtax on bonuses granted to employees who earn more than $250,000 at companies that have received at least $5 billion from the government’s financial rescue program. The bonus tax, if approved by the Senate and signed into law, would be retroactive to Dec. 31, 2008.

Source: Wall Street Journal

Bailed-Out Banks Failed to Pay Taxes

Thirteen of the largest recipients of the government’s massive bailout failed to pay more than $220 million in federal taxes, congressional investigators said yesterday, prompting a new round of accusations that banks were abusing the financial rescue program. The Internal Revenue Service said late yesterday that a portion of the money had been paid back but many in Congress were furious, noting that firms with the largest tax liabilities owed $113 million and $102 million.

Source: Washington Post

Freedom for Madoff Before Sentencing?

A week after Bernard Madoff pleaded guilty to a $65 billion Ponzi scheme, his lawyers were back in court to appeal a federal judge’s decision to jail their client before sentencing. The appeals panel told Madoff it needs more time to consider the matter and he remains in jail—exactly where he belongs, most people would probably say.

Source: BusinessWeek

Dollar Heads for Record Weekly Loss Versus Euro as Supply Rises

The dollar headed for a record weekly drop against the euro after the Federal Reserve ramped up supply of the currency by unexpectedly saying it will start buying Treasuries. The greenback traded near a two-month low versus the European currency and headed for a second weekly decline versus the yen as the Fed said March 18 its balance sheet will grow by as much as $1.15 trillion as it buys up to $300 billion of government debt and purchases more mortgage bonds.

Source: Bloomberg

Venezuela Chavez to nationalize Santander bank unit

Venezuela will go ahead with the nationalization of the local unit of Spanish bank Grupo Santander, President Hugo Chavez said on Thursday, weeks after officials said the purchase was on hold. Since first winning office a decade ago, Chavez has nationalized large swathes of the OPEC nation’s economy and this year has moved to increase state control of farms and food production despite a sharp drop in oil income.

Source: Reuters

AIG unit sues Countrywide over loan losses

A unit of embattled insurer American International Group filed suit against mortgage lender Countrywide Financial in California federal court Thursday, alleging Countrywide misrepresented the health of loans that the company insured, resulting in massive losses. United Guaranty Mortgage Indemnity Co. filed suit in U.S. District Court, accusing Countrywide of breach of contract, fraud, negligence, and unfair competition and business practices.

Source: Associated Press

Oil Set for Fifth Week of Gains on U.S. Growth Plan, Dollar

Crude oil is poised to gain for a fifth week, the longest winning streak in 11 months, on the Federal Reserve’s plan to end the worst global recession in 60 years by spending $1 trillion buying back debt. Oil climbed above $50 a barrel yesterday to close at a three-month high after the Fed said it was seeking to purchase U.S. Treasuries, mortgage-backed bonds and other debt.

Source: Bloomberg

Asian Stocks Decline, Paring Biggest Weekly Rally Since 2007

Asian stocks declined, led by banks and technology companies, after the benchmark index’s biggest weekly gain since August 2007 drove valuations to the highest in more than a year. U.S. futures fell.Macquarie Group, Australia’s largest investment bank, slumped 4.6%.China Mobile dropped 4.1% in Hong Kong on speculation an investor was seeking to sell shares in the company.

Source: Bloomberg

IN YOUR FACE: YOUTUBE’S MISSING OPPORTUNITY

Reader Geoff W. Writes: “Linking to content that’s available in some countries and not others would cause YouTube a serious headache and potentially lead to a consumer loss.”

Tell Us: Is Google Getting Smarter About YouTube?

Hot Topic on the Business Exchange: Media Trends

Shirley Brady and others are sharing their insights.