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Noon News: Why No iPhone 5? Adobe Flash Player 11, Yahoo Preps Books for Probable Buyers

Many were surprised that Tim Cook didn't launch an iPhone 5 smartphone with LTE capabilities yesterday during the Apple "Let's Talk iPhone" event. Experts believe the reason is very simple. Current technology simply doesn't allow the company to cram the exising iPhone 4 internals into a smaller chassis and improve battery life at the same time.

The introduction of Apple gadgets and Apple iOS promoted many to adopt HTML 5 and highlighted that Adobe Flash should be replaced due to slow speeds and lack of features. In short, the Adobe Flash was not considered compatible with other advanced gadgets at the time.

It has come to light that Yahoo! might be getting itself ready for a possible takeover as investors are prepping to give potential buyers, financial information about the company. Reports are floating around that company like Alibaba and investment firms Silver Lake and Digital Sky technologies are said to be discussing a joint bid for the Internet giant Yahoo!

According to a eMarketer study, the ad revenue generated by the social networks will hit $10 billion by 2013. The same study predicted that this year the ad revenue of the global social network will hit $ 5.5 billion.

Software giant Microsoft is expected to dish out new features for its Xbox Live platform which will allow users to watch cable TV and stream video using the Xbox 360 console.