- Yahoo Inc said it is buying blogging service Tumblr for $1.1 billion cash, giving the struggling Internet pioneer a much-needed platform in social media to reach a younger generation of users.
Recent Business News
NEW YORK - Citigroup Inc Chief Executive Michael Corbat named Jane Fraser as the new head of the bank's mortgage business on Monday ,as current CitiMortgage CEO Sanjiv Das plans to leave the bank to pursue other opportunities, according to an internal memo.
CAPE TOWN - Car maker Mercedes Benz said on Monday workers at its South African assembly plant had gone on an illegal strike at the end of last week but had agreed to resume operations on Tuesday.
WASHINGTON - The Supreme Court on Monday ruled for utility PPL Corp in its dispute with the U.S. Internal Revenue Service over credits the company claimed to offset overseas tax payments.
- General Electric Co said its financial unit GE Capital Corp would pay $6.5 billion in dividends to the parent in 2013 as part of a plan to reduce the unit's size.