REGULATION

MICROSOFT ACCUSES E.U. OF ‘SECRET CONTACTS’ WITH ITS COMPETITORS

Microsoft accused E.U. regulators of arranging “secret contacts” between its competitors and said the Commission “actively encouraged Microsoft’s adversaries to ‘educate’ the trustee in a manner detrimental to Microsoft.”

– Bloomberg News

IN BRIEF

Morgan Stanley’s co-head of European sales for asset management, Stefano Russo, is leaving to join hedge fund Renaissance Technologies Corporation … Bond markets around the world tumbled as the European Central Bank raised interest rates and the Bank of Japan prepared to increase borrowing costs … Toys ‘R Us won a lawsuit against Amazon.com that will allow the toy seller to set up its own Web site and exit an agreement to sell products on Amazon’s site …The Securities and Exchange Commission agreed unanimously yesterday to develop clear guidelines on when it should issue subpoenas to journalists during fraud investigations … John “Jack” Byrne says he is considering stepping down as chairman of Overstock.com… Silver in New York rose above $10 an ounce for the first time since March 1984 … The CEO of Google, Eric Schmidt, said he sees no limit to the Internet search engine’s ability to increase advertising revenue … Bjorn Borg is selling his five Wimbledon men’s tennis trophies and two of the Donnay rackets he used in his record five-year winning streak.

– Bloomberg News and Dow Jones Newswires