Dow Jones, Microsoft Form Alliance

Dow Jones & Co. said it will use Microsoft Corp. technology to develop financial products for its slumping Dow Jones Markets financial news and data unit. Financial terms weren’t disclosed. The alliance comes as Dow Jones prepares to spend $650 million in the next three to four years on Dow Jones Markets to halt a slide in market share. New York-based Dow Jones is under pressure from some shareholders to improve the business of its financial data division. Operating income at the unit plunged 20.9% last year to $155.48 million. Under the agreement with Microsoft, Dow Jones will use the software company’s BackOffice line of desktop products, including the Windows NT Server network operating system. Redmond, Wash.-based Microsoft will also help Dow Jones design desktop setups for financial institutions using the Internet and network communications.