Damn the credit crunch and housing slump, it is full ad-speed ahead for many banks and financial services companies. Among those launching new campaigns into this dismal market is Washington Mutual, with a new effort that highlights it consumer and small-business products under a tagline "Whoo hoo!" that is meant to show how the company's customers feel when they get an unexpected, added service, according to CMO Genevieve Smith. She notes that the lighthearted approach comes as money worries mount, but says the message of no-fee ATM use at any bank and free checking "provide value." Indeed, an …

In a move that could spark a widespread consumer backlash, the British government has suggested that users in the UK who illegally download music and films should have their Internet access cut off. The proposal states that Internet service providers should be responsible for policing the initiative, although the government stresses that plans are at a very early stage. Under the proposal, ISPs that fail to enforce the rules would be prosecuted; details of those who engage in illegal downloading would also be made available to the courts. Media companies have long complained they lose billions of dollars to …

Facebook has changed its deletion policy. Until this week, Facebook only offered a deactivation option, which kept copies of former profiles on the company's servers--although users could completely erase their data through "a cumbersome manual method." The revelation sparked another privacy backlash, as annoyed users joined the group "How to permanently delete your Facebook account." Since the initial Times story ran on Monday, the group's membership more than doubled to 7,000. However, now Facebook allows users to send out a form that completely deletes their profile, although it's still unclear whether Facebook retains any information about its …

Two sources tell the blog that News Corp. and Yahoo are discussing some kind of transaction ("or at least the appearance of one"). It's unclear how serious the negotiations are. News Corp. has repeatedly stated that it's not interested in buying Yahoo, so a possible deal may include News Corp. giving Yahoo MySpace or all of Fox Interactive plus cash in exchange for a major stake in the company. His estimate: News Corp. sells FIM for $6 billion (a P/E of roughly 30 times operating profit) plus another $9 billion in cash from itself and a private equity firm in …

Rumors circulated the blogosphere last week that Bebo, the Web's No. 3 social network with a 1.18 percent market share according to Hitwise, was in talks to be acquired for around $1 billion by a mystery buyer. Google was said to be the most likely candidate, although the rumor was never confirmed. Now, Bebo has indeed been purchased for the rumored price of $1 billion--although the buyer remains a mystery. The report cites a "high level source" representing either Bebo or the company's investment bank, Allen & Co., who says the company signed a deal Monday to be …

Yahoo "seems to be coming apart at the seems" said Bruce Brown, managing partner of recruiting firm Daversa Partners, amid the turmoil created by Microsoft's $45 billion bid for the Internet giant. The headhunters are circling. Said David Mather, an executive recruiter specializing in technology: "There continues to be a supply problem of really high-quality people." Not only did Yahoo this week begin handing out pink slips to 1,000 of its 14,000-plus employees, but the firm rejected Microsoft's offer to acquire the company for $31 per share, leaving shareholders in both companies concerned. In a note to …

Microsoft may be trying to maneuver a takeover, but Yahoo isn't sitting on its heels: Yahoo is acquiring Maven Networks for $160 million in a merger that makes Yahoo "the leading premium video publisher on the Internet." The Sunnyvale, Calif. Web giant already claims to have the Web's biggest library of professionally produced, licensed video. The addition of Maven, gives Yahoo access to video content from more than 30 major media companies, including Fox News, Sony BMG, CBS Sports, Hearst, Ganett, Scripps Networks and the Financial Times. The words, "professionally produced legally licensed video" are music to marketers' …