UPS lowered its first quarter earnings expectations to 86-87 cents per diluted share from a previously anticipated range of 94-98 cents. According to the company, lower volume trends were experienced and are expected to continue as a weak US economy causing a reduction in domestic package volume and a shift away from premium products.

The Interactive Advertising Bureau released digital video ad format guidelines for in-stream, overlay and video companion ads to simplify specs and make creative submissions more efficient. The guidelines deal with linear formats such as pre-, mid-, or post-roll ads, as well as non-linear units such as overlays or product placements. The trade group is seeking com­ment on the guidelines throughout this month.

Google, MySpace and Yahoo have partnered to create a nonprofit OpenSocial Foundation with the goal of supporting neutrality in the development of social network widgets. Google launched its OpenSocial network last November at a time when Web applica­tions on social networks such as Facebook were gaining popular­ity. In other news, Facebook suffered a security breach last week. Users' restricted photos were available for public viewing for about an hour.

EBay Inc. said last week it would cut 125 jobs in Europe and North America, including 70 positions at its headquarters in San Jose, CA. The online auction site said the cuts are aimed at streamlin­ing operations. It currently employs about 15,500 people.

A two-year-old case between the Federal Trade Commission and Impulse Media Group Inc. was settled in the US District Court in Seattle last week, find­ing Impulse Media not responsible for sexually explicit e-mail spamming by its affiliates.

In an investor presentation detailing its three-year financial plan and strategic initiatives, Yahoo's board of directors unanimously determined that Microsoft's January 31 unsolicited acquisition proposal substantially undervalues Yahoo.

Alliance Data Systems Corp. has released a statement alleging a breach of the May 17, 2007 merger agreement between Alliance Data and The Blackstone Group. The notice demands that Blackstone affiliates, Aladdin Solutions and Aladdin Merger Sub, cure the breaches and consummate the transaction.

The USPS has launched a pilot Mail Back program that allows customers to recycle small electronics and inkjet cartridges by mailing them free in envelopes available in 1,500 post offices. Postage is paid by Clover Technologies Group, a remanufacturer of inkjet cartridges, laser cartridges and small electronics. Nineteen other companies bid for the contract.

Yahoo Inc. amended its company's bylaws last week, extending the deadline for nominations to Yahoo's board of directors from March 14 to 10 days following the public announcement of the date for Yahoo's 2008 annual meeting of stockholders. As of press time, this date had yet to be announced. A company statement said, "the amendment will give stockholders who want to nominate one or more directors, including Microsoft Corporation, more time to do so."

Time Warner Inc.'s Internet service provider Road Runner began blocking images in e-mail by default in a move to protect subscribers from spam. Road Runner has about 7.7 million subscribers. Other e-mail inboxes that switch images off by default include AOL, Hotmail/WLM, Yahoo!, Gmail, Outlook 2007, and Outlook 2003.