The former Coca-Cola president Steven Heyer is to step down as chairman of the online ad company Phorm, one of four board members to leave. By Mark Sweney
BSkyB is to raise $600m in a bond issue to institutional investors to provide funding for activities including possible acquisitions and the refinancing of debt. By Mark Sweney
Yahoo chief Jerry Yang has said the ad industry is facing the toughest downturn in decades and he was monitoring the effects on the internet search market. By Mark Sweney
Vodafone is to cut costs by £1bn after it dropped its annual sales forecast for the second time in four months. By Richard Wray, Chris Tryhorn and Mark Sweney
Universal Music chairman Lucian Grainge is to be an ambassador for the UK government's 'Davos for creative businesses' world conference. By Mark Sweney
Google increased its global dominance in the search advertising market over rivals such as Yahoo in the third quarter of 2008, according to a report. By Mark Sweney