- Yahoo Inc said it is acquiring blogging service Tumblr for $1.1 billion cash, a bold bet by Chief Executive Marissa Mayer to revitalize the struggling Internet pioneer by co-opting a Web property with strong visitor traffic but little revenue.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Prosecutors to raid Olympus on Wednesday: media
TOKYO (Reuters) - Japanese prosecutors are set to raid the offices of Olympus Corp (7733.T) as well as homes of its former executives later on Wednesday in connection with a huge accounting scandal that has threatened the existence of the 92-year-old maker of cameras and medical equipment, domestic media reported.
Tokyo prosecutors, police and the Securities and Exchange Surveillance Commission will join in a joint probe of the 13-year, $1.7 billion scheme to hide investment losses stretching back two decades, media said.
(Reporting by Nobuhiro Kubo; Editing by Edwina Gibbs)
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