The players

Steve Ballmer | Jerry Yang | Larry Page and Sergey Brin

Microsoft launches $45bn bid for Yahoo

Microsoft has launched a $44.6bn bid for internet rival Yahoo in an attempt to create an online search and advertising group that can rival Google. By Richard Wray

Microsoft stake in Facebook values site at $15bn

Little more than three years after its birth in a Harvard University dormitory, the social networking website Facebook has become one of the most expensive internet start-ups in history, with a valuation of $15bn (£7.3bn) under a financing deal with the software group Microsoft.

Google profits jump by 46%

Google's money-making juggernaut rolled on as the world's top internet search company produced a 46% leap in profits to $1.07bn during the third quarter of the year.