Yahoo's Q3 profit down
Yahoo has announcing that its profit for the Q3 fell 37 percent due to low corporate advertising sales and competitive pressures, as well as costs to expense employee stock options. The company has cut its outlook for Q4 2006. Yahoo's net income fell to $158.5 million or 11 cents a share, from $253.8 million, or 17 cents.

Earlier, Yahoo has trimmed its forecast and delayed the introduction of Panama. Yahoo has also faced increased competition from Google, MySpace and YouTube for customers. Last week Google bought YouTube for $1.65 billion, stepping up pressure on Yahoo.

Yahoo also announced it had purchased specialty video advertising firm AdInterax, which will provide Yahoo with creative assembly and campaign management tools.
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New edition encyclopaedia planned
San Francisco: A co-founder of the Wikipedia online encyclopaedia Larry Sanger has announced the launch of a rival service "Citizendium" edited by experts. The test version of Citizendium will be launched this week in California and will use experienced editors and subject authorities to tune information submitted by web surfers.

Sanger said that by engaging expert editors, eliminating anonymous contribution, and launching a more mature community under a new charter, a much broader and more influential group of people and institutions will be able to improve upon Wikipedia's extremely useful, but often uneven work.
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Hyundai, Ford in cars recall in China
Beijing: Hyundai Motor's and Ford Motor's joint ventures in China have recalled 1, 51,397 locally made cars due to mechanical faults, reports in the state media said.

The Beijing Hyundai Motor Company will recall 98,559 cars of the Elantra and Sonata series that have ignition problems. The cars were manufactured between October 1, 2004, and March 22, 2005. Beijing Hyundai said it will contact the car owners and will also set up two hotlines.

The ChanganFord Automobile, the joint venture of US-based auto giant, located in southwest China's Chongqing, has recalled 52,838 Focus sedans.

The cars were made between June 17, 2005, and July 30, 2006 and are said to have potential problems with the wires on the fuel pumps. The company said that in serious cases the defect could lead to engine failure, Xinhua news agency reported.
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