Alibaba repurchases half of Yahoo’s stake for $7.1 billion
As Yahoo’s struggles continue, the company is looking to cut costs and dig up cash wherever it can. Yahoo announced plans last month to lay off 2,000 workers, or nearly 15% of its staff, and before that it filed a “puzzling” patent lawsuit against long-time partner Facebook. Now, Yahoo will sell half of its 40% stake in China-based retail giant Alibaba. Led by Chinese Internet entrepreneur Jack Ma, Alibaba will repurchase part of Yahoo’s holdings in the e-commerce firm for $7.1 billion as it prepares to take the company public. The deal, which was announced in a joint statement on Monday, will see Yahoo sell half its stake in Alibaba for $6.3 billion in cash and as much as $800 million in new preferred
Unleash your hidden DJ potential with the Turntable.fm Android app
Have you always dreamed of being a DJ? Well, even if you thought becoming a spin master just was not in the cards for you, you might just change your mind when you witness the free Turntable.fm app for Android. It’s a social music app made for getting the party started on your mobile device. You can unleash your inner DJ to entertain your online fan club.
What World War II Can Teach Us About Climate Change
Downplaying or ignoring a coming catastrophe won't make it go away.
Facebook shares sink 11 percent as reality overtakes hype
(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $38 offering price on the open market. ...
Silicon Valley takes Facebook fizzle in stride
SAN FRANCISCO (Reuters) - Facebook's lackluster initial public offering performance is a black eye for many on Wall Street and could have ramifications for similar upcoming deals such as an offering by Twitter, but venture capitalists in Silicon Valley are keen to shrug off Facebook's stumble - at least for now. ...
Solar Eclipse in Time-Lapse
This time-lapse video of an annular solar eclipse was shot Sunday by Cory Poole, a 33-year-old physics and math teacher from Redding, Calif., who has an interest in science and astronomy. “Once I found out that the path of the annular eclipse went directly through my...
