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- Yahoo buying Tumblr for $1.1 billion, vows not to screw it up May 20, 2013By Alexei Oreskovic and Jennifer Saba (Reuters) - 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. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-o […]
- Citi names new heads of mortgages, private bank, Citi Holdings May 20, 2013NEW YORK (Reuters) - 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. Das took over Citigroup's mortgage business at the height of the financial crisis […]
- Yahoo takes big leap with $1.1B deal for Tumblr May 20, 2013SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times. […]
- Stocks hold close to record levels May 20, 2013NEW YORK (AP) — A stock market surge took a pause Monday after investors pushed indexes to record levels last week. […]
- Wildcat strike hits Mercedes South African plant May 20, 2013CAPE TOWN (Reuters) - 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. "Scheduled production will resume on Tuesday 21 May," company spokeswoman Lynette Skriker said in a statement. She said production had been aff […]