Google closes Motorola deal, names new Motorola CEO

NEW YORK (Reuters) - Google Inc completed its $12.5 billion purchase of Motorola Mobility, and the Web search leader named a new management team for the cellphone maker. Google said on Tuesday that Motorola Chief Executive Sanjay Jha has stepped and has been succeeded by Dennis Woodside, former president of Google's Americas region. Woodside oversaw planning for the Motorola integration, according to Google. The deal close comes just days after the companies gained approval for the acquisition from the Chinese government. European and U.S. regulators approved the deal in February. ...

Google closes Motorola acquisition

In line with earlier reports, Google on Tuesday finalized its acquisition of Motorola Mobility. The $12.5 billion merger was approved by regulators in China on Monday after having been given the green light by the United States Department of Justice this past February. Chinese regulators did stipulate terms for its approval, however, namely that Google must continue to make Android open-source and freely available. Former Motorola Mobility CEO Sanjay Jha has stepped down and Google’s Dennis Woodside will replace him as chief executive. “I’m excited to announce today that our Motorola Mobility deal has closed,” Google CEO Larry Page wrote in a letter published on Google’s blog. “Motorola is a great American tech company that has driven the mobile revolution, with

Best Buy profit falls, adj. earns tops Street view

Best Buy Co. said Tuesday that its fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing its turnaround plan.

Spain teachers, students strike over spending cuts

Teachers and students from every level of Spain's education system went on strike Tuesday to protest wide-ranging government spending cuts, erecting makeshift tombs at university campuses to symbolize what they claim will be the death of the country's schooling system.

Eurozone warned 'severe recession' looming

The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy.