Last year, the government all but closed down the market for online gambling in the U.S., a move that shut down several gaming companies across the globe. The U.S. used to account for approximately half of all Internet gambling revenues, it's unclear what that number is now, a year after restrictions were placed before credit card companies and online payment services. Foreign outlets were also forbidden for accepting bets from U.S. consumers. In the EU, where online gambling is legal, regulators say the U.S. ban is disingenuous, particularly because the U.S. in 1994 agreed to a world trade agreement …

Financial analysts continue to raise their target price for high-flying Google. Credit Suisse Group on Tuesday became the latest firm to push its valuation of the search giant closer to $1,000 per share, saying it expects Google to surpass $900 per share next year. According to Bloomberg data, Credit Suisse's valuation is the highest among the 37 brokerages that rate its stock. As of Wednesday morning, Google was trading at $647.85 per share, which means a jump to $900 would represent a 40 percent increase. Google's stock has risen 31 percent so far in 2007. Analyst Heath Terry …

Apple's plan to bring the iPhone to market in Europe using the same exclusive carrier model it deploys in the U.S. has already hit a few roadblocks--although that might not necessarily be a bad thing for Apple. It's far worse for Apple's carrier partners, which earn the bulk of their iPhone revenues from sales of mobile phone subscriptions. Last month, French law prohibited Apple from selling its iPhone through an exclusive agreement with Orange. The company is now being forced to sell so-called "unlocked" iPhones so that users of any mobile carrier can purchase the phone. Today, the …

The explosion of online video on the Web used to be all about amateurs. Not anymore. Apparently, the average Web user has become bored with clips of lip-syncing 7-year-olds and kittens falling asleep. Professionally produced programming surpasses amateur video as the hottest trend in online video. VideoEgg co-founder Matt Sanchez. z would know: Video Egg provides producers with tools for making and delivering ads to online videos. His sentiments are underscored by recent moves made by Bebo, a social media site, Sony, and ManiaTV, a video destination with more than 3,000 user-generated video channels. Bebo last week decided to …

Yahoo has issued an ultimatum to its Yahoo Europe employees: improve performance or we will sell the company or close down these doors entirely. Toby Coppel, the new head Yahoo's European business, says its challenges in Europe are more substantial than in the U.S. "In rushing out to market, we built a lot of applications that didn't speak to each other," he said. We were managing a larger number of legacy products with fewer people than in the States." For starters, the Web giant has a paltry 3.2 percent share of the European search market, according to comScore. …

The hot rumor this week is that Facebook is planning on acquiring its way into the expanding Chinese social networking market by buying Zhanzuo.com. The Web startup, which runs on massive funding provided by Silicon Valley investors and most recently, Microsoft, is reported to have tabled an $85 million offer for the Chinese social network, according to British paper The Guardian. Zhanzuo.com has an estimated user base of seven million active members, most of which are students. The acquisition would give Facebook a foothold in China, the second-largest Internet market outside the U.S. Rival MySpace already has a presence …

Time Inc. on Monday named former "Ad Age" publisher Scott Donotan as the new publisher of "Entertainment Weekly." Donotan steadily climbed the ladder at "Ad Age" since college, starting in editorial as a reporter and moving up to editor of the magazine and its Web site. After switching to the publishing side as an associate, Donotan became publisher last February. Donotan's replacement has not yet been named. Allison Arden is the trade journal's associate publisher, Jonah Bloom is its editor and Jackie Gedhine is its national sales manager. Donotan replaces Dave Morris as publisher of "EW."

So-called "Cyber Monday," the Monday after Thanksgiving, is losing its importance as part of the crazy weekend making up the busiest shopping days of the year. Retailers still receive a considerable spike in online sales, but the day pales as online retailers offer sales discounts earlier in the holiday season. "The holiday season is starting earlier and earlier every year, which is what consumers joke about, but it's honestly happening," says Heather Dougherty, of the traffic measurement firm Hitwise. "People are going online and researching products before the holiday gets started." "Cyber Monday" gets its name from the …

Talks will resume after Thanksgiving, but the writers and TV networks still remain far apart on the issue of new media compensation. Writers feel shortchanged because they don't make a dime from digital downloads or online ad revenue gleaned from the shows they write. However, neither do the studios. While most TV and cable networks sell their shows online or distribute them via ad-supported services or on their own sites, they do so at a loss. Both parties are trying to protect their future: Writers want Viacom and Time Warner to eat the cost as part of their …

There are a couple of things writers should keep in mind as they continue to strike for their share of new media revenues. Some studies say that online media content is accelerating America's ever-expanding appetite for TV. The battle for audiences, whether online or on the television, isn't exactly a "zero-sum" game. The Web is still a long way away from replacing the traditional television set. Right now, the ability to watch TV on a cell phone, say, only reinforces a viewer's relationship to his or her favorite program. People still prefer to watch their shows on a …