And web initiatives like msn search and hotmail showed operating losses year after year .

而经营MSN搜索和Hotmail这类的网络服务又连年亏损。

As the advertising system for searches on msn .

成为在msn上搜索的广告系统。

And microsoft 's msn , which have local chinese operations .

和微软的msn，都拥有本土中文业务。

And msn both lost share .

和msn却在往下跌。

To find out , msn money took a look at credit default swaps .

为了找到答案，msn投资频道回顾了信贷违约掉期现状。