SEATTLE (Reuters) – Microsoft Corp’s move to shake up the leadership of its mobile and games division this week — giving Chief Executive Steve Ballmer direct control over the push to catch up with Apple Inc and Google Inc in the exploding smartphone market — revealed its determination to ride the next wave of computing.

Few expect a change of management to turn the entertainment and devices unit into an iPhone-killing, Wii-slaying profit machine overnight. But Microsoft — known for its deep pockets and ability to assimilate new technology — won’t stop pouring money into the mobile and gaming sectors.

SEATTLE (Reuters) – Apple Inc shot past Microsoft Corp as the world’s biggest tech company based on market value on Wednesday, the latest milestone in the resurgence of the maker of the iPhone, which nearly went out of business in the 1990s.

Apple’s shares rose as much 2.8 percent on Nasdaq on Wednesday, as Microsoft shares floundered, briefly pushing its market value above $229 billion, ahead of its longtime rival.

SEATTLE (Reuters) – Microsoft Corp’s Robbie Bach, head of the video games and mobile phones unit, is retiring in a management shuffle, as Chief Executive Officer Steve Ballmer tightens his grip over a division steadily ceding ground to rivals.

The departure of the 22-year veteran, credited for launching the Xbox in 2001, comes as the world’s largest software maker is being brushed aside by Apple Inc’s iPhone and Google Inc’s Android operating system in a fast-growing but increasingly crowded smartphone market.

SAN FRANCISCO (Reuters) – Fears that Greece’s debt crisis will spread could undermine a resurgence in regional technology spending, but European tech exporters — and their customers — could benefit in the second half, executives told the Reuters Global Technology Summit this week.

The euro hit a four-year low against the dollar on Wednesday, one of the clearest signs of concern that financial problems in Europe will not be limited to Greece.

SAN FRANCISCO (Reuters) – Fears that Greece’s debt crisis will spread could undermine a resurgence in regional technology spending, but European tech exporters — and their customers — could benefit in the second half, executives told the Reuters Global Technology Summit this week.

The euro hit a four-year low against the dollar on Wednesday, one of the clearest signs of concern that financial problems in Europe will not be limited to Greece.

NEW YORK (Reuters) – More technology deals are on the way as the industry recovers from the recession, but Microsoft Corp is not poised to make a big deal soon, its chief financial officer told Reuters on Friday.

Potential acquisition targets felt that buyers weren’t willing to pay high enough premiums during the market downturn, but that is starting to change, said Microsoft CFO Peter Klein at the Reuters Global Technology Summit in New York.

NEW YORK (Reuters) – More technology deals are on the way as the industry recovers from the recession, but Microsoft Corp <MSFT.O> is not poised to make a big deal soon, its chief financial officer told Reuters on Friday.

Potential acquisition targets felt that buyers weren’t willing to pay high enough premiums during the market downturn, but that is starting to change, said Microsoft CFO Peter Klein at the Reuters Global Technology Summit in New York.

NEW YORK (Reuters) – Technology firms are kicking off a new wave of mergers and acquisitions as cash-rich makers of hardware, software and everything in between position themselves for economic recovery and reach into new markets.

The movement toward mobile computing, the increasing importance of data storage, and the use of the Internet to access information are forcing tech players to reexamine where they want to compete, and to consider buying their way there.

NEW YORK (Reuters) – Technology firms are kicking off a new wave of mergers and acquisitions as cash-rich makers of hardware, software and everything in between position themselves for economic recovery and reach into new markets.

The movement toward mobile computing, the increasing importance of data storage, and the use of the Internet to access information are forcing tech players to reexamine where they want to compete, and to consider buying their way there.

NEW YORK (Reuters) – Microsoft Corp launched an updated version of its Office software on Wednesday, aiming to keep its grip on the hugely profitable business application market while countering the challenge of free online alternatives from Google Inc.

The world’s largest software company is upgrading its popular Word, Excel, Outlook and PowerPoint applications and rolling out its own online versions to keep up with the new class of mobile, Web-connected users that has emerged since the last upgrade in 2006.