Similar Stories to Business News Roundup, May 5 on Bing News

AT&T said Wednesday it has awarded its Web and mobile hosting business to Synacor, a small Buffalo, N.Y., company, dropping its contract with Yahoo. “We have agreed to have Synacor manage our next-generation att.net portal, AT&T-branded applications, and search,” AT&T said. While this transition will occur over one to two years, it is another step as we integrate the entertainment and services our customers want. Customers will not have to take any action, the company said, and email service will not be affected — Yahoo will continue to host email for AT&T customers. Apple has lost a legal fight with a Chinese company that a Beijing court says is allowed to use the iPhone name on wallets and handbags. The court said Apple failed to prove iPhone was a “famous brand” in China before the local company applied for a trademark in 2007, an official legal newspaper reported. The ruling in late April allows Xintong Tiandi Technology to keep using the iPhone name, according to the Legal Daily, which is published by the ruling Communist Party. The company registered the name for use on handbags, mobile phone cases and other leather goods. Whole Foods says sales declined 3 percent at established locations during its fiscal second quarter as it prepares to open an offshoot chain intended to expand its customer base. To appeal to a broader customer base, Whole Foods has been trying to shake its “Whole Paycheck” image by keeping down prices. The trade deficit fell in March to the lowest level in 16 months as imports plunged by the largest amount since the depths of the recession seven years ago. [...] imports declined 3.6 percent to $217.1 billion as American demand for everything from autos to computers and toys fizzled. Through the first three months of this year, the deficit with China is running 5.4 percent lower than the same period a year ago. Tribune Publishing has rejected Gannett’s more than $388 million buyout offer, saying that it’s not enough for the company that owns The Los Angeles Times, Chicago Tribune and other newspapers. USA Today owner Gannett wanted to buy Tribune Publishing to expand its effort to unite USA Today with its more than 100 local daily newspapers. [...] Tribune said Wednesday that “after thorough consideration” its board decided the proposal from Gannett understates its true value and is not in the best interests of its shareholders.