Google proposes real time auction of radio waves
Internet major Google has made a proposal before the US regulator, the Federal Communications Commission, to permit real-time auction of radio waves. In its proposal Google has argued that permitting companies to resell the airwaves in a real-time auction would make it possible to improve spectrum use and thereby better the quality of service being offered to consumers. In real-time auction, operators would be able to keep track of each others' spectrum usage across the country through an online portal and a company could buy spectrum from another operator, which may have unused spectrum during off-peak hours.

If there are multiple operators wanting to buy the chunk of excess spectrum then an online auction will take place where the highest bidder will get to use the radio frequency for a year or even two seconds depending on the need.

The process is similar to the way advertisement spots are taken up on Google's online search engine.
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ExxonMobil, ConocoPhillips to exit Venezuela
Venezuelan President Hugo Chávez has forced six global oil giants to transfer equity stakes of 60 per cent or more in four key heavy-oil ventures to state oil company Petróleos de Venezuela. The four companies Chevron, BP, France's Total, and Norway's Statoil signed agreements with Energy & Oil Minister Rafael Ramírez.
However, two big players, ExxonMobil and ConocoPhillips have decided to exit the South American country-a move likely to hit Venezuela's oil output.

ExxonMobil's and ConocoPhillip's exit comes at time when Venezuela is hoping to attract more than $21 billion in investment from foreign oil companies. The goal: to boost daily oil output to 5.2 million barrels per day by 2012, up from its current 2.4 million. Venezuela, currently OPEC's fourth-largest producer, plans to spend $77 billion overall in the next five years. But with the shakeup in the industry, many analysts doubt Chávez will achieve his goals.
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Oracle posts better than expected results
Enterprise software giant Oracle announced a better than expected 23 per cent rise in fourth-quarter earnings at the close on Tuesday. Oracle's net earnings rose to $1.6 billion, or 31 cents per share, from $1.3 billion, or 24 cents per share, in the corresponding period a year earlier. Fourth-quarter revenues were up 20 per cent to $5.8 billion. Annual revenue increased $3.6 billion to $18 billion, operating income increased $1.2 billion to $6 billion, and cash flow from operations increased $1 billion to $5.5 billion.

The strong fourth quarter was on the back of several large acquisitions by Oracle such as that of Hyperion Solutions for $3.3 billion and Agile Software for $495 million, or $8.10 a share. The transaction is expected to close in July.
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