Here’s the latest action:

One Laptop Per Child cuts 50 percent of staffThe group says it is refocusing its efforts and that the remaining 32 team members are facing salary cuts.

Investment group eyes Yahoo takeover
— Silicon Valley executives and investment bankers are putting together a takeover deal that would be largely financed by debt from Microsoft, according to TechCrunch.

Google’s Eric Schmidt wishes he could save newspapers — But he says there’s no clear solution yet, and it doesn’t make sense for Google to buy the papers up.

Yelp user sued over negative reviewAt issue is Christopher Norberg’s critique suggesting that a chiropractor with whom he’d had a billing disputeĀ  was dishonest.

Wal-Mart, Netflix sued for monopoly — The logic behind the suit seems a little shaky since you can’t have an online video monopoly when major competitors exist.

The outlook for video startups in 2009 — A lot of companies will struggle, but the silver lining is that more and more people are watching online video, says NewTeeVee’s Liz Gannes.

Online TV network Revision3 hires TV producer Ryan Vance — Vance, who has worked at cable network G4 and the Sci Fi Network, is now Revision3’s vice president of programming and production.

Facebook and have almost resolved their issues — The details of the settlement are still being worked out. Facebook sued social network connector in December for improperly accessing Facebook data.

Macworld selects best of showThe list includes some obvious choices, like the new version of iPhoto, but also some cool hardware and software that I hadn’t heard about.

Three former Broadbus execs try to launch venture firm — Broadbus was a television on-demand company bought by Motorola in 2006 for $189 million. Now three guys who worked there together are raising funds for a new early stage venture capital firm called Genovation Capital.