Cartoon studio faces state clout, global stars
Chinese cartoonist Carol Liu Hong built her studio from scratch, doing post-production work for TV commercials and then, once she broke even, realizing her dream of creating cartoons for Chinese kids.
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
Zuckerberg Bride, Priscilla Chan, Not Your Usual Billionaire's Wife
Just as we thought Facebook CEO and newly minted billionaire Mark Zuckerberg was on top of the world, he surprised even his friends by marrying his college sweetheart, 27-year-old Priscilla Chan, just after he led the company to one of the biggest IPOs in tech history. Zuckerberg has been...
Watch: TechBytes: Wireless, Diablo 3
The top four wireless carriers are nearly tied in customer satisfaction ratings.
Yahoo clears a hurdle, sells Alibaba stake for $7.1 billion
SHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract value from its most prized asset. Yahoo also increased its stock buyback authorization by $5 billion to $5.5 billion as a result of the deal but said it might instead opt to distribute some of the proceeds through a dividend. The sale, announced on Monday, gives Yahoo $6.3 billion in cash and up to $800 million of new Alibaba preferred stock. After taxes, Yahoo will clear $4.2 billion. ...
Ex-Yahoo executive pleads in insider-trading case
A former Yahoo executive and a hedge fund manager have pleaded guilty in New York to an insider trading charge.
