Today in the Fortune 500: News Corp’s new publication released, Intel’s Cougar Point chip set barely hit the market before recalls and Shell says algae won’t be its fuel of the future.

February 3, 2011, 6:49 PM UTC
Image representing Apple as depicted in CrunchBase
Image via CrunchBase

THE DAILY IS HERE Rupert Murdoch’s baby launched at a New York press conference. It’s News Corp.’s (NWS) new iPad-only publication, sold exclusively through Apple’s (APPL) iTunes store for 99 cents a pop. Murcoch says it’s supposed to target the 15 million people predicted to buy new iPads this year. Check the demo to see its spiffy features. [BBC]

APPLE, FOR ITS PART wants to funnel more sales of electronic publications through iTunes, and thus gain more control over the e-reader market. Apple announced a new delivery and billing system intended to foster its dominance and other publishers are worried. [Wall Street Journal]

COUGAR STRIKES sales of PCs for companies including HP, Dell (DELL), Samsung and Lenovo that built models around Intel’s (INTC) very fast but apparently flawed Sandy Bridge microprocessor. The faulty chipsets built around Sandy Bridge chips are called Cougar Point. About 8 million are on the market now, and Inetel plans to compensate customers for them. [BBC]

GEORGIA ON HP’S MIND Tech company Hewlett-Packard (HPQ) plans to outsource IT used by its clients in Eastern Europe and former Soviet Union countries to Georgia. HP will pay tens of millions of dollars to set up the region’s first IT shared services center, which will ultimately employ about 1,000 people. [Bloomberg]

SHELL KNOCKS ALGAE out of the list of biofuels competing for its funding. It’s part of Shell’s (RDSA) renewable plan. The company has dubbed 2011 the “year of choices” when it will narrow its investment in ten biofuel technologies down to five. [Fast Company]

NIKE OWNS US ALL Nike’s (NKE) four-part strategy for global dominance explained. [Fortune]