Layoffs in big firms continue, the latest company to announce job cuts is Yahoo, which has announced plan to lay off more than 20% of its total workforce. This comes as a part of major restructuring of its Ad Tech division.

Yahoo to lay off 20% employees as part of major restructuring of Ad Tech division

Citing major restructuring of its ad tech division,&nbsp;Yahoo, Thursday, announced its plans to lay off over 20% of its total staff. By the end of the year, roughly 1,000 Yahoo ad tech staff would lose their jobs. The restructuring will overall impact about 50% of the company's workforce, Yahoo said. The news of the layoffs at Yahoo was first reported by Axios, Reuters news agency said.&nbsp;

Also Read | <a href="https://www.wionews.com/world/us-uk-sanction-members-of-russia-based-trickbot-cybercrime-gang-for-malicious-activities-560455">US, UK sanction members of Russia-based Trickbot cybercrime gang for malicious activities</a>

In addition, the move would allow Yahoo, which has been controlled by private equity firm Apollo Global Management (APO.N) since a $5 billion takeover in 2021, to concentrate its efforts and investments on its core DSP, or demand-side platform, ad business. Many advertisers have reduced their marketing spendings in a response to all-time high inflation rates and ongoing recessionary uncertainties.

This year, a number of American businesses, including Goldman Sachs Group Inc. (GS.N) and Alphabet Inc. (GOOGL.O), have also made thousands of layoffs.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/sa-president-declared-state-of-disaster-amid-worst-power-crisis-what-is-it-about-560449">South African president declares 'state of disaster' amid worst power crisis. What is it about?</a>

Disney also&nbsp;announced Wednesday that about&nbsp;7,000 employees&nbsp;will be laid off.&nbsp;This&nbsp;represent 3.6% of Disney's workforce. Last&nbsp;week, Google employees held&nbsp;protests and&nbsp;urged the thousands of their coworkers who had just been let go by Alphabet Inc., the parent company of Google, to support them.

Google announced one of the biggest layoffs in company's history last month: 12,000 people, or 6% of its global workforce. Microsoft Corp., Salesforce Inc., and Amazon.com Inc., three other significant IT companies, have all lately announced layoffs.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Citing major restructuring of its ad tech division, Yahoo, Thursday, announced its plans to lay off over 20% of its total staff. By the end of the year, roughly 1,000 Yahoo ad tech staff would lose their jobs.

Citing major restructuring of its ad tech division, Yahoo, Thursday, announced its plans to lay off over 20% of its total staff. By the end of the year, roughly 1,000 Yahoo ad tech staff would lose their jobs. The restructuring will overall impact about 50% of the company's workforce, Yahoo said. The news of the layoffs at Yahoo was first reported by Axios, Reuters news agency said. Also Read | US, UK sanction members of Russia-based Trickbot cybercrime gang for malicious activities In addition, the move would allow Yahoo, which has been controlled by private equity firm Apollo Global Management (APO.N) since a $5 billion takeover in 2021, to concentrate its efforts and investments on its core DSP, or demand-side platform, ad business. Many advertisers have reduced their marketing spendings in a response to all-time high inflation rates and ongoing recessionary uncertainties. This year, a number of American businesses, including Goldman Sachs Group Inc. (GS.N) and Alphabet Inc. (GOOGL.O), have also made thousands of layoffs. Also Read | South African president declares 'state of disaster' amid worst power crisis. What is it about? Disney also announced Wednesday that about 7,000 employees will be laid off. This represent 3.6% of Disney's workforce. Last week, Google employees held protests and urged the thousands of their coworkers who had just been let go by Alphabet Inc., the parent company of Google, to support them. Google announced one of the biggest layoffs in company's history last month: 12,000 people, or 6% of its global workforce. Microsoft Corp., Salesforce Inc., and Amazon.com Inc., three other significant IT companies, have all lately announced layoffs. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Yahoo Layoffs: Over 20 % staff to be made redundant in Ad-Tech restructuring

In pics: Tech platforms that are no longer in existence

Tech giant Yahoo has pulled out of China, citing an “increasingly challenging business and legal environment.” The withdrawal was largely symbolic, as many of the company's services were already blocked by China's digital censorship.

Yahoo pulls out of China, citing ‘challenging’ business environment

Yahoo! India on Friday released a list of search trends in India before and after the nationwide lockdown was enforced in the country.

The report states that the trends reflect every user’s daily search habits.

Also read:&nbsp;<a href="https://www.wionews.com/world/covid-19-bill-gates-defends-china-calls-blame-game-a-distraction-295021" hreflang="en">COVID-19: Bill Gates defends China, calls blame-game a 'distraction'</a>

Additionally, it took into account not only what the user read, but also based on what they shared with other users.

The words “novel coronavirus” witnessed a jump of over 427 per cent in terms of search pattern across the country. 
 
COVID-19 fever

The top five keywords related to coronavirus included - COVID-19 updates, COVID-19 treatment, COVID-19 death toll, symptoms of COVID-19, and live COVID-19 tracker.

The top overall searches related to the virus included: Lockdown in India, vaccine for coronavirus, social distancing, and Hydroxychloroquine for coronavirus. 
 
Before COVID

Way before COVID-19 gained traction in the country, people in the country were searching for Delhi election results, Delhi riots, Delhi violence, and JNU violence.

The keywords that received most hits earlier were US President Donald Trump, Delhi CM Arvind Kejriwal, and politician Jyotiraditya Scindia.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/lockdown-has-yielded-positive-results-says-pm-states-want-extension-with-relaxations-295055" hreflang="en">Lockdown has yielded positive results, says PM; States want extension with relaxations</a>

In terms of online tools to ease working from home, Zoom, Skype, Google Hangouts, Microsoft Teams, and GoToMeeting gained the most steam in the country.

In terms of celebrities, Kanika Kapoor, the singer who had tested positive for the virus and has recovered since then received the most hits online, followed by Priyanka Chopra, Disha Patani, and Deepika Padukone.

Yahoo! India on Friday released a list of search trends in India before and after the nationwide lockdown was enforced in the country. The report states that the trends reflect every user’s daily search habits.

Yahoo! India on Friday released a list of search trends in India before and after the nationwide lockdown was enforced in the country. The report states that the trends reflect every user’s daily search habits. Also read: COVID-19: Bill Gates defends China, calls blame-game a 'distraction' Additionally, it took into account not only what the user read, but also based on what they shared with other users. The words “novel coronavirus” witnessed a jump of over 427 per cent in terms of search pattern across the country. COVID-19 fever The top five keywords related to coronavirus included - COVID-19 updates, COVID-19 treatment, COVID-19 death toll, symptoms of COVID-19, and live COVID-19 tracker. The top overall searches related to the virus included: Lockdown in India, vaccine for coronavirus, social distancing, and Hydroxychloroquine for coronavirus. Before COVID Way before COVID-19 gained traction in the country, people in the country were searching for Delhi election results, Delhi riots, Delhi violence, and JNU violence. The keywords that received most hits earlier were US President Donald Trump, Delhi CM Arvind Kejriwal, and politician Jyotiraditya Scindia. Also read: Lockdown has yielded positive results, says PM; States want extension with relaxations In terms of online tools to ease working from home, Zoom, Skype, Google Hangouts, Microsoft Teams, and GoToMeeting gained the most steam in the country. In terms of celebrities, Kanika Kapoor, the singer who had tested positive for the virus and has recovered since then received the most hits online, followed by Priyanka Chopra, Disha Patani, and Deepika Padukone.

COVID fever, quite literally? Yahoo! reveals most searched words before and after lockdown in India

Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and US tech powerhouses.

The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business.

It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund.

The deal comes as SoftBank Group founder Masayoshi Son battles to restore his reputation after a disastrous investment in office-sharing firm WeWork.

Telecoms firm SoftBank Corp said in a statement that Yahoo Japan, which last month changed its name to Z Holdings Corp, would aim to complete its merger with Line, owned by South Korea's Naver Corp, in October 2020.

The companies plan to reach a definitive agreement by next month in a transaction that would see SoftBank Corp and Naver form a 50:50 venture that would control Z Holdings, which in turn would operate Yahoo Japan and Line.

SoftBank Corp and Naver, which owns 73 per cent of money-losing Line, plan to launch a tender offer for Line's remaining shares at 5,200 yen each - a 13.4 per cent&nbsp;premium to the shares' price before news of the merger broke. That values Line at about $12 billion.

Line's shares closed up 2.2 per cent&nbsp;at 5,150 yen after the announcement. Shares in Z Holdings rose 1.2 per cent, with Naver's shares up 2.9 per cent&nbsp;and SoftBank Corp's down 0.3 per cent.

Line has been looking for growth through expansion into areas such as QR code payments with Line Pay but has been squeezed because of its limited funds and heavy-spending peers including SoftBank, which has a rival service called PayPay.

The merger of Japan's most popular messaging app and one of the country's top online retailers is the latest consolidation in its tech industry and comes as Rakuten is expanding into SoftBank's core business with the launch of mobile services.

SoftBank this month completed its acquisition of online fashion retailer Zozo Inc, whose founder and ex-Chief Executive Yusaku Maezawa sold down his stake following a series of missteps.

The merger is driven by the two companies' "sense of crisis" over the rise of tech giants from the U.S. and China, Line CEO Takeshi Idezawa told a news conference, wearing a tie in Yahoo Japan's red corporate colour.

SoftBank Group's Son frequently laments Japan's tardiness in emerging fields like artificial intelligence, with Monday's presentation showing even after combining the company's research and development budget would be dwarfed by overseas rivals.

Yahoo Japan CEO Kentaro Kawabe, who was wearing a tie in Line's corporate green, declined to comment on which services would be combined or abolished post-merger.

Line launched to overcome downed networks in the aftermath of a 2011 earthquake and tsunami before building a strong following with its use of colourful emojis, eventually listing in 2016.

However, the messaging service struggled to make inroads in countries dominated by apps like Facebook's Whatapp and eventually retrenched in its core markets of Japan, Taiwan, Thailand and Indonesia.

Coming at a time of heightened political tension between Japan and South Korea, the merger might be the two countries' most significant economic cooperation of the last decade, Jaewoong Lee, a South Korean serial entrepreneur and founder of Naver rival Daum wrote on his Facebook page late on Sunday.

Z Holdings will continue to be a consolidated subsidiary of SoftBank Corp, which is a unit of investment conglomerate SoftBank Group Corp.

SoftBank retained Mizuho Securities, a unit of Mizuho Financial Group, as its financial advisor. Naver retained Deutsche Bank.

Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and US tech powerhouses.

Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and US tech powerhouses. The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business. It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund. The deal comes as SoftBank Group founder Masayoshi Son battles to restore his reputation after a disastrous investment in office-sharing firm WeWork. Telecoms firm SoftBank Corp said in a statement that Yahoo Japan, which last month changed its name to Z Holdings Corp, would aim to complete its merger with Line, owned by South Korea's Naver Corp, in October 2020. The companies plan to reach a definitive agreement by next month in a transaction that would see SoftBank Corp and Naver form a 50:50 venture that would control Z Holdings, which in turn would operate Yahoo Japan and Line. SoftBank Corp and Naver, which owns 73 per cent of money-losing Line, plan to launch a tender offer for Line's remaining shares at 5,200 yen each - a 13.4 per cent premium to the shares' price before news of the merger broke. That values Line at about $12 billion. Line's shares closed up 2.2 per cent at 5,150 yen after the announcement. Shares in Z Holdings rose 1.2 per cent, with Naver's shares up 2.9 per cent and SoftBank Corp's down 0.3 per cent. Line has been looking for growth through expansion into areas such as QR code payments with Line Pay but has been squeezed because of its limited funds and heavy-spending peers including SoftBank, which has a rival service called PayPay. The merger of Japan's most popular messaging app and one of the country's top online retailers is the latest consolidation in its tech industry and comes as Rakuten is expanding into SoftBank's core business with the launch of mobile services. SoftBank this month completed its acquisition of online fashion retailer Zozo Inc, whose founder and ex-Chief Executive Yusaku Maezawa sold down his stake following a series of missteps. The merger is driven by the two companies' "sense of crisis" over the rise of tech giants from the U.S. and China, Line CEO Takeshi Idezawa told a news conference, wearing a tie in Yahoo Japan's red corporate colour. SoftBank Group's Son frequently laments Japan's tardiness in emerging fields like artificial intelligence, with Monday's presentation showing even after combining the company's research and development budget would be dwarfed by overseas rivals. Yahoo Japan CEO Kentaro Kawabe, who was wearing a tie in Line's corporate green, declined to comment on which services would be combined or abolished post-merger. Line launched to overcome downed networks in the aftermath of a 2011 earthquake and tsunami before building a strong following with its use of colourful emojis, eventually listing in 2016. However, the messaging service struggled to make inroads in countries dominated by apps like Facebook's Whatapp and eventually retrenched in its core markets of Japan, Taiwan, Thailand and Indonesia. Coming at a time of heightened political tension between Japan and South Korea, the merger might be the two countries' most significant economic cooperation of the last decade, Jaewoong Lee, a South Korean serial entrepreneur and founder of Naver rival Daum wrote on his Facebook page late on Sunday. Z Holdings will continue to be a consolidated subsidiary of SoftBank Corp, which is a unit of investment conglomerate SoftBank Group Corp. SoftBank retained Mizuho Securities, a unit of Mizuho Financial Group, as its financial advisor. Naver retained Deutsche Bank.

SoftBank to create $30 billion tech giant with Yahoo Japan, Line Corp merger

Japan's&nbsp;SoftBank&nbsp;Corp&nbsp;plans to merge internet unit&nbsp;<a href="https://www.wionews.com/entertainment/yahoo-japan-bids-for-control-of-fashion-e-tailer-zozo-for-37-billion-249306">Yahoo&nbsp;Japan</a>&nbsp;with messaging app operator&nbsp;Line&nbsp;Corp&nbsp;to&nbsp;create&nbsp;a $30&nbsp;billion&nbsp;tech&nbsp;giant, as it strives better compete to with local rival Rakuten and US&nbsp;tech&nbsp;powerhouses.

The deal, which would combine the providers of two of&nbsp;Japan's top QR code payment services, offers&nbsp;SoftBank&nbsp;access to 164 million&nbsp;Line&nbsp;users and their data in&nbsp;Japan&nbsp;and Southeast Asia as it expands into services outside its core wireless business.

It also offers&nbsp;Line&nbsp;a deep-pocket patron who can offer its&nbsp;tech&nbsp;expertise, including potentially via the&nbsp;giant&nbsp;Vision Fund.

The deal comes as&nbsp;<a href="https://www.wionews.com/business-economy/softbank-backed-oyo-to-raise-15-billion-led-by-founder-other-existing-investors-254242">SoftBank&nbsp;Group</a> founder Masayoshi Son battles to restore his reputation after a disastrous investment in office-sharing firm WeWork.

Telecoms firm&nbsp;SoftBank&nbsp;Corp&nbsp;said in a statement that&nbsp;Yahoo&nbsp;Japan, which last month changed its name to Z Holdings&nbsp;Corp, would aim to complete its&nbsp;merger&nbsp;with&nbsp;Line, owned by South Korea's Naver&nbsp;Corp, in October 2020.

The companies plan to reach a definitive agreement by next month in a transaction that would see&nbsp;SoftBank&nbsp;Corp&nbsp;and Naver form a 50:50 venture that would control Z Holdings, which in turn would operate&nbsp;Yahoo&nbsp;Japan&nbsp;and&nbsp;Line.

SoftBank&nbsp;Corp&nbsp;and Naver, which owns 73 per cent&nbsp;of money-losing&nbsp;Line, plan to launch a tender offer for&nbsp;Line's remaining shares at 5,200 yen each - a 13.4 per cent&nbsp;premium to the shares' price before news of the&nbsp;merger&nbsp;broke. That values&nbsp;Line&nbsp;at about $12&nbsp;billion.

Line's shares closed up 2.2 per cent&nbsp;at 5,150 yen after the announcement. Shares in Z Holdings rose 1.2 per cent, with Naver's shares up 2.9 per cent&nbsp;and&nbsp;SoftBank&nbsp;Corp's down 0.3 per cent.

Line&nbsp;has been looking for growth through expansion into areas such as QR code payments with&nbsp;Line&nbsp;Pay, but has been squeezed because of its limited funds and heavy-spending peers including&nbsp;SoftBank, which has a rival service called PayPay.

The&nbsp;merger&nbsp;of&nbsp;Japan's most popular messaging app and one of the country's top online&nbsp;retailers is the latest consolidation in its&nbsp;tech&nbsp;industry, and comes as Rakuten is expanding into&nbsp;SoftBank's core business with the launch of mobile services.

SoftBank&nbsp;this month completed its acquisition of online&nbsp;fashion retailer Zozo Inc, whose founder and ex-Chief Executive Yusaku Maezawa sold down his stake following a series of missteps.

The&nbsp;merger&nbsp;is driven by the two companies' "sense of crisis" over the rise of&nbsp;tech&nbsp;giants from the US&nbsp;and China,&nbsp;Line&nbsp;CEO Takeshi Idezawa told a news conference, wearing a tie in&nbsp;Yahoo&nbsp;Japan's red&nbsp;corporate colour.

SoftBank&nbsp;Group's Son frequently laments&nbsp;Japan's tardiness in emerging fields like artificial intelligence, with Monday's presentation showing even after combining the company's research and development budget would be dwarfed by overseas rivals.

Yahoo&nbsp;Japan&nbsp;CEO Kentaro Kawabe, who was wearing a tie in&nbsp;Line's&nbsp;corporate green, declined to comment on which services would be combined or abolished post-merger.

Line&nbsp;launched to overcome downed networks in the aftermath of a 2011 earthquake and tsunami before building a strong following with its use of colourful emojis, eventually listing in 2016.

However, the messaging service struggled to make inroads in countries dominated by apps like <a href="https://www.wionews.com/world/nso-snoop-row-how-pegasus-broke-into-whatsapp-260055">Facebook's Whatapp</a> and eventually retrenched in its core markets of&nbsp;Japan, Taiwan, Thailand and Indonesia.

Coming at a time of heightened political tension between&nbsp;Japan&nbsp;and South Korea, the&nbsp;merger&nbsp;might be the two countries' most significant economic cooperation of the last decade, Jaewoong Lee, a South Korean serial entrepreneur and founder of Naver rival Daum wrote on his Facebook page late on Sunday.

Z Holdings will continue to be a consolidated subsidiary of&nbsp;SoftBank&nbsp;Corp, which is a unit of investment conglomerate&nbsp;SoftBank&nbsp;Group&nbsp;Corp.

SoftBank&nbsp;retained Mizuho Securities, a unit of Mizuho Financial Group, as its financial advisor. Naver retained Deutsche Bank.

Japan's SoftBank Corp plans to merge internet unit Yahoo Japan with messaging app operator Line Corp to create a $30 billion tech giant, as it strives better compete to with local rival Rakuten and US tech powerhouses. The deal, which would combine the providers of two of Japan's top QR code payment services, offers SoftBank access to 164 million Line users and their data in Japan and Southeast Asia as it expands into services outside its core wireless business. It also offers Line a deep-pocket patron who can offer its tech expertise, including potentially via the giant Vision Fund. The deal comes as SoftBank Group founder Masayoshi Son battles to restore his reputation after a disastrous investment in office-sharing firm WeWork. Telecoms firm SoftBank Corp said in a statement that Yahoo Japan, which last month changed its name to Z Holdings Corp, would aim to complete its merger with Line, owned by South Korea's Naver Corp, in October 2020. The companies plan to reach a definitive agreement by next month in a transaction that would see SoftBank Corp and Naver form a 50:50 venture that would control Z Holdings, which in turn would operate Yahoo Japan and Line. SoftBank Corp and Naver, which owns 73 per cent of money-losing Line, plan to launch a tender offer for Line's remaining shares at 5,200 yen each - a 13.4 per cent premium to the shares' price before news of the merger broke. That values Line at about $12 billion. Line's shares closed up 2.2 per cent at 5,150 yen after the announcement. Shares in Z Holdings rose 1.2 per cent, with Naver's shares up 2.9 per cent and SoftBank Corp's down 0.3 per cent. Line has been looking for growth through expansion into areas such as QR code payments with Line Pay, but has been squeezed because of its limited funds and heavy-spending peers including SoftBank, which has a rival service called PayPay. The merger of Japan's most popular messaging app and one of the country's top online retailers is the latest consolidation in its tech industry, and comes as Rakuten is expanding into SoftBank's core business with the launch of mobile services. SoftBank this month completed its acquisition of online fashion retailer Zozo Inc, whose founder and ex-Chief Executive Yusaku Maezawa sold down his stake following a series of missteps. The merger is driven by the two companies' "sense of crisis" over the rise of tech giants from the US and China, Line CEO Takeshi Idezawa told a news conference, wearing a tie in Yahoo Japan's red corporate colour. SoftBank Group's Son frequently laments Japan's tardiness in emerging fields like artificial intelligence, with Monday's presentation showing even after combining the company's research and development budget would be dwarfed by overseas rivals. Yahoo Japan CEO Kentaro Kawabe, who was wearing a tie in Line's corporate green, declined to comment on which services would be combined or abolished post-merger. Line launched to overcome downed networks in the aftermath of a 2011 earthquake and tsunami before building a strong following with its use of colourful emojis, eventually listing in 2016. However, the messaging service struggled to make inroads in countries dominated by apps like Facebook's Whatapp and eventually retrenched in its core markets of Japan, Taiwan, Thailand and Indonesia. Coming at a time of heightened political tension between Japan and South Korea, the merger might be the two countries' most significant economic cooperation of the last decade, Jaewoong Lee, a South Korean serial entrepreneur and founder of Naver rival Daum wrote on his Facebook page late on Sunday. Z Holdings will continue to be a consolidated subsidiary of SoftBank Corp, which is a unit of investment conglomerate SoftBank Group Corp. SoftBank retained Mizuho Securities, a unit of Mizuho Financial Group, as its financial advisor. Naver retained Deutsche Bank.

Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history.

The proposed class-action settlement made public on Tuesday was designed to address criticisms of US District Judge Lucy Koh in San Jose, California. She rejected an earlier version of the accord on Jan. 28, and her approval is still required.

Koh said the original settlement was not "fundamentally fair, adequate and reasonable" because it had no overall dollar value and did not say how much victims might expect to recover. She also said the legal fees appeared to be too high.

Yahoo, now part of New York-based <a href="https://www.wionews.com/science-tech/verizon-expected-to-cut-2000-jobs-at-yahoo-aol-16618">Verizon Communications Inc</a>, had been accused of being slow to disclose three data breaches affecting about 3 billion accounts from 2013 to 2016.

The new settlement includes at least $55 million for victims' out-of-pocket expenses and other costs, $24 million for two years of credit monitoring, up to $30 million for legal fees, and up to $8.5 million for other expenses.

It covers as many as 194 million people in the United States and Israel with roughly 896 million accounts.

John Yanchunis, a lawyer for the plaintiffs, in a court filing, called the $117.5 million the "biggest common fund ever obtained in a data breach case." He did not immediately respond to requests for additional comment.

Separately, Verizon agreed to spend $306 million between 2019 and 2022 on information security, five times what Yahoo spent from 2013 to 2016. It also pledged to quadruple Yahoo's staffing in that area.

"The settlement demonstrates our strong commitment to security," Verizon said in a statement.

Yahoo agreed in July 2016 to sell its internet business to Verizon for $4.83 billion. Only later did it reveal the scope of the breaches, prompting a price cut to $4.48 billion. Verizon wrote off much of Yahoo's value in December.

US prosecutors charged two Russian intelligence agents and two hackers in connection with one of the breaches in 2017. One hacker later pleaded guilty.

Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history.

Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history. The proposed class-action settlement made public on Tuesday was designed to address criticisms of US District Judge Lucy Koh in San Jose, California. She rejected an earlier version of the accord on Jan. 28, and her approval is still required. Koh said the original settlement was not "fundamentally fair, adequate and reasonable" because it had no overall dollar value and did not say how much victims might expect to recover. She also said the legal fees appeared to be too high. Yahoo, now part of New York-based Verizon Communications Inc, had been accused of being slow to disclose three data breaches affecting about 3 billion accounts from 2013 to 2016. The new settlement includes at least $55 million for victims' out-of-pocket expenses and other costs, $24 million for two years of credit monitoring, up to $30 million for legal fees, and up to $8.5 million for other expenses. It covers as many as 194 million people in the United States and Israel with roughly 896 million accounts. John Yanchunis, a lawyer for the plaintiffs, in a court filing, called the $117.5 million the "biggest common fund ever obtained in a data breach case." He did not immediately respond to requests for additional comment. Separately, Verizon agreed to spend $306 million between 2019 and 2022 on information security, five times what Yahoo spent from 2013 to 2016. It also pledged to quadruple Yahoo's staffing in that area. "The settlement demonstrates our strong commitment to security," Verizon said in a statement. Yahoo agreed in July 2016 to sell its internet business to Verizon for $4.83 billion. Only later did it reveal the scope of the breaches, prompting a price cut to $4.48 billion. Verizon wrote off much of Yahoo's value in December. US prosecutors charged two Russian intelligence agents and two hackers in connection with one of the breaches in 2017. One hacker later pleaded guilty.

Yahoo strikes $117.5 million data breach settlement after earlier accord rejected

Prime Minister<a href="https://www.wionews.com/india-news/-narendra-modi-journey-from-cm-to-pm-139976"> Narendra Modi</a> was once again the top newsmaker in India in the year 2018, according to the Yahoo Year in Review list.

<a href="http://www.wionews.com/india-news/un-secretary-general-presents-pm-narendra-modi-champions-earth-award-169160">Modi </a>has featured at the top of the list for at least a couple of years now and is followed this year by Congress president Rahul Gandhi.

Former Chief Justice of India Dipak Misra wrote his way into the list with third position after landmark verdicts on triple talaq and Article 377, among others, Yahoo said.

M J Akbar, who resigned as Minister of State for External Affairs after allegations of sexual harassment, also featured on the list at number 6, behind alleged economic fraudsters Vijay Mallya and Nirav Modi.

The excitement surrounding Bollywood's biggest wedding ensured actors Deepika Padukone and Ranveer Singh were 'couple' newsmakers.

At under two years, Taimur Ali Khan was the youngest entrant to this list -- the son of Kareena Kapoor and Saif Ali Khan boasts a formidable following online.

Also joining the list was actress Priya Prakash Varrier, whose wink in the Malayalam film Oru Adaar Love "almost broke the Internet", the statement by Yahoo said.

"There was plenty of fake news swirling online in 2018. Did Modi really touch Owaisi's feet? (photoshopped!), Modi hires personal make-up artist for Rs 15 lakh a month (an old photo from when Madame Tussaud's took PM Modi's measurements) and Rahul Gandhi holds woman's hand on stage (taken before a large group lifted hands in solidarity at a Jan andolan rally)," the statement said listing out the top three fake news doing the rounds online during the year.

Year in Review (YIR) chronicles the top choices of Internet users in India, spotlighting the newsmakers, stories and topics that went viral and were trending online during the year, the Yahoo statement said.

It is based on users' search habits and a selection of what they read, recommended and shared most on Yahoo.

"Over the last decade, YIR has documented the growing empowerment of the country's online audience, seen in the expression and sharing of new ideas online. This year, the collective power of India's Internet users fuelled the watershed #MeTooIndia movement. India's #MeToo Survivors, who started a conversation with wide-reaching impact, are YIR's 2018 Personality of the year," it said.

The year saw several women taking to social media to share accounts of sexual harassment by men in positions of power. The movement crossed over to the mainstream, garnering huge support and mobilizing every section of the media, it said.

The Karnataka election -- one of the most important events on this year's political calendar -- was the Most Searched for Term in 2018. A HuffPost India investigation into the hacking of the Aadhaar software came in at No. 2 on this list, sparking a nation-wide debate and trending online, it noted. 
Scam-riddled Vijay Mallya and Nirav Modi also bagged spots on the list of Most Searched for Terms in 2018.

RBI Governor Urjit Patel came in at the top of 2018's Finance Newsmakers, holding his own against the government. India's richest man and Reliance Industries Chairman Mukesh Ambani -- whose wealth reportedly increased by Rs 300 crore per day in 2018 -- came in second on this list. Brother Anil Ambani, Reliance Group Chairman, also features on the list for the Rafale deal controversy, Yahoo said.

"Users bid farewell to Bollywood actress Sridevi with an outpouring of grief and love online, making her one of the Most Searched for Female Celebrities in 2018. They also rooted for Sonali Bendre, who shared her fight against cancer online with #switchonthesunshine, putting her on the list," it said.

Sunny Leone was the Most Searched Female Celebrity yet again, with Priya Prakash Varrier coming in close to the top.

"Salman Khan proved he was the 'biggest boss,' as the Most Searched Male Celebrity of 2018," it said adding that American singer Nick Jonas was a close second as he zoomed up the list with his engagement to actress Priyanka Chopra.

"While staying loyal to Ranveer-Deepika, users also brought in newbies like actor Janhvi Kapoor, and Sara Ali Khan, besides Sprinter Hima Das into India's Top 10 heartthrobs of 2018," Yahoo said.

Prime Minister Narendra Modi was once again the top newsmaker in India in the year 2018, according to the Yahoo Year in Review list. Modi has featured at the top of the list for at least a couple of years now and is followed this year by Congress president Rahul Gandhi.

Prime Minister Narendra Modi was once again the top newsmaker in India in the year 2018, according to the Yahoo Year in Review list. Modi has featured at the top of the list for at least a couple of years now and is followed this year by Congress president Rahul Gandhi. Former Chief Justice of India Dipak Misra wrote his way into the list with third position after landmark verdicts on triple talaq and Article 377, among others, Yahoo said. M J Akbar, who resigned as Minister of State for External Affairs after allegations of sexual harassment, also featured on the list at number 6, behind alleged economic fraudsters Vijay Mallya and Nirav Modi. The excitement surrounding Bollywood's biggest wedding ensured actors Deepika Padukone and Ranveer Singh were 'couple' newsmakers. At under two years, Taimur Ali Khan was the youngest entrant to this list -- the son of Kareena Kapoor and Saif Ali Khan boasts a formidable following online. Also joining the list was actress Priya Prakash Varrier, whose wink in the Malayalam film Oru Adaar Love "almost broke the Internet", the statement by Yahoo said. "There was plenty of fake news swirling online in 2018. Did Modi really touch Owaisi's feet? (photoshopped!), Modi hires personal make-up artist for Rs 15 lakh a month (an old photo from when Madame Tussaud's took PM Modi's measurements) and Rahul Gandhi holds woman's hand on stage (taken before a large group lifted hands in solidarity at a Jan andolan rally)," the statement said listing out the top three fake news doing the rounds online during the year. Year in Review (YIR) chronicles the top choices of Internet users in India, spotlighting the newsmakers, stories and topics that went viral and were trending online during the year, the Yahoo statement said. It is based on users' search habits and a selection of what they read, recommended and shared most on Yahoo. "Over the last decade, YIR has documented the growing empowerment of the country's online audience, seen in the expression and sharing of new ideas online. This year, the collective power of India's Internet users fuelled the watershed #MeTooIndia movement. India's #MeToo Survivors, who started a conversation with wide-reaching impact, are YIR's 2018 Personality of the year," it said. The year saw several women taking to social media to share accounts of sexual harassment by men in positions of power. The movement crossed over to the mainstream, garnering huge support and mobilizing every section of the media, it said. The Karnataka election -- one of the most important events on this year's political calendar -- was the Most Searched for Term in 2018. A HuffPost India investigation into the hacking of the Aadhaar software came in at No. 2 on this list, sparking a nation-wide debate and trending online, it noted. Scam-riddled Vijay Mallya and Nirav Modi also bagged spots on the list of Most Searched for Terms in 2018. RBI Governor Urjit Patel came in at the top of 2018's Finance Newsmakers, holding his own against the government. India's richest man and Reliance Industries Chairman Mukesh Ambani -- whose wealth reportedly increased by Rs 300 crore per day in 2018 -- came in second on this list. Brother Anil Ambani, Reliance Group Chairman, also features on the list for the Rafale deal controversy, Yahoo said. "Users bid farewell to Bollywood actress Sridevi with an outpouring of grief and love online, making her one of the Most Searched for Female Celebrities in 2018. They also rooted for Sonali Bendre, who shared her fight against cancer online with #switchonthesunshine, putting her on the list," it said. Sunny Leone was the Most Searched Female Celebrity yet again, with Priya Prakash Varrier coming in close to the top. "Salman Khan proved he was the 'biggest boss,' as the Most Searched Male Celebrity of 2018," it said adding that American singer Nick Jonas was a close second as he zoomed up the list with his engagement to actress Priyanka Chopra. "While staying loyal to Ranveer-Deepika, users also brought in newbies like actor Janhvi Kapoor, and Sara Ali Khan, besides Sprinter Hima Das into India's Top 10 heartthrobs of 2018," Yahoo said.

PM Modi tops list of newsmaker personalities on Yahoo 2018 'year in review'

Verizon Communications is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo&#39;s core assets next week, a person briefed on the matter said.

The cuts are expected to come from Verizon&#39;s AOL and Yahoo units and represent about 15 per cent of the staff at the two units. About 14,000 people work at AOL and Yahoo.

Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public.

Yahoo shareholders on Thursday approved the company&#39;s sale, according to preliminary results from a shareholder meeting, and it is expected to be completed on Tuesday.

The No. 1 US wireless operator is combining Yahoo&#39;s search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought in 2015 for $4.4 billion. Verizon expects mobile video and advertising to be new sources of revenue outside the oversaturated wireless market. Verizon shares are down 15 per cent this year.

The acquisition marks the end of the line for Yahoo as a standalone company, a storied Web pioneer once valued at more than $100 billion.

Verizon is rebranding AOL and Yahoo as part of a new venture called Oath, led by AOL Chief Executive Officer Tim Armstrong.

Verizon is betting it can use data from more than 200 million unique monthly visitors to Yahoo sites and combine it with data on 150 million unique monthly AOL users and its own user base of over 100 million wireless subscribers to offer more targeted services for advertisers.

The Yahoo deal came after activist investors led by Starboard Value LP lost faith in Yahoo Chief Executive Officer Marissa Mayer, who was hired in 2012, and forced the sale of the company&#39;s core assets. Mayer is not expected to remain at Yahoo after the sale is completed.

Yahoo is still one of the largest properties on the internet, with hundreds of millions of customers using its email, finance and sports offerings, and a heavily trafficked home page. In February 2016, Yahoo announced it was cutting 1,600 employees, or 15 per cent of its staff.

The deal&#39;s closing was delayed as the companies assessed the fallout from two Yahoo data breaches.

Yahoo disclosed in December that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history. This followed a separate disclosure that at least 500 million accounts were affected in a 2014 breach.

(Reuters)

About 14,000 people work at AOL and Yahoo

Verizon Communications is expected to cut about 2,000 jobs when it completes its $4.48 billion acquisition of Yahoo's core assets next week, a person briefed on the matter said. The cuts are expected to come from Verizon's AOL and Yahoo units and represent about 15 per cent of the staff at the two units. About 14,000 people work at AOL and Yahoo. Many of the jobs are in California and some are outside the United States, according to the source, who asked not to be identified because the matter is not yet public. Yahoo shareholders on Thursday approved the company's sale, according to preliminary results from a shareholder meeting, and it is expected to be completed on Tuesday. The No. 1 US wireless operator is combining Yahoo's search, email and messenger assets as well as advertising technology tools with its AOL unit, which it bought in 2015 for $4.4 billion. Verizon expects mobile video and advertising to be new sources of revenue outside the oversaturated wireless market. Verizon shares are down 15 per cent this year. The acquisition marks the end of the line for Yahoo as a standalone company, a storied Web pioneer once valued at more than $100 billion. Verizon is rebranding AOL and Yahoo as part of a new venture called Oath, led by AOL Chief Executive Officer Tim Armstrong. Verizon is betting it can use data from more than 200 million unique monthly visitors to Yahoo sites and combine it with data on 150 million unique monthly AOL users and its own user base of over 100 million wireless subscribers to offer more targeted services for advertisers. The Yahoo deal came after activist investors led by Starboard Value LP lost faith in Yahoo Chief Executive Officer Marissa Mayer, who was hired in 2012, and forced the sale of the company's core assets. Mayer is not expected to remain at Yahoo after the sale is completed. Yahoo is still one of the largest properties on the internet, with hundreds of millions of customers using its email, finance and sports offerings, and a heavily trafficked home page. In February 2016, Yahoo announced it was cutting 1,600 employees, or 15 per cent of its staff. The deal's closing was delayed as the companies assessed the fallout from two Yahoo data breaches. Yahoo disclosed in December that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history. This followed a separate disclosure that at least 500 million accounts were affected in a 2014 breach. (Reuters)

Verizon expected to cut 2,000 jobs at Yahoo, AOL

Verizon Communications Inc is close to a revised deal to buy Yahoo Inc&#39;s core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.

Since last year, Verizon had been trying to persuade Yahoo to amend the terms of the acquisition agreement to reflect the economic damage from two cyber attacks.

Another person familiar with the situation said the price cut was likely to be around $250 million, a figure that Bloomberg reported earlier on Wednesday.

Yahoo and Verizon did not immediately respond to requests for comment.

Verizon hopes to combine Yahoo&#39;s search, email and messenger assets, as well as advertising technology tools, with its AOL unit, which Verizon bought in 2015 for $4.4 billion. Verizon has been looking to mobile video and advertising for new sources of revenue outside an oversaturated wireless market.

Sunnyvale, California-based Yahoo has been under scrutiny by federal investigators and lawmakers since disclosing the largest known data breach in history.

Yahoo shares rose 1.6 per cent to $45.76 in morning trading. Verizon shares fell 0.7 per cent to $47.96.

(Reuters)

Verizon hopes to combine Yahoo's search, email and messenger assets, as well as advertising technology tools, with its AOL unit

Verizon Communications Inc is close to a revised deal to buy Yahoo Inc's core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter. Since last year, Verizon had been trying to persuade Yahoo to amend the terms of the acquisition agreement to reflect the economic damage from two cyber attacks. Another person familiar with the situation said the price cut was likely to be around $250 million, a figure that Bloomberg reported earlier on Wednesday. Yahoo and Verizon did not immediately respond to requests for comment. Verizon hopes to combine Yahoo's search, email and messenger assets, as well as advertising technology tools, with its AOL unit, which Verizon bought in 2015 for $4.4 billion. Verizon has been looking to mobile video and advertising for new sources of revenue outside an oversaturated wireless market. Sunnyvale, California-based Yahoo has been under scrutiny by federal investigators and lawmakers since disclosing the largest known data breach in history. Yahoo shares rose 1.6 per cent to $45.76 in morning trading. Verizon shares fell 0.7 per cent to $47.96. (Reuters)

Verizon close to Yahoo deal, price cut of $250-350 million: Sources

&nbsp;

Yahoo Inc said Chief Executive Officer Marissa Mayer would step down from the board after closing its deal with Verizon Communications Inc.

Five other directors would also resign after the deal closes, Yahoo said in an filing. The company named Eric Brandt chairman of the board. The remaining directors will govern Altaba, a holding company whose primary assets will be a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding Ltd and 35.5 per cent stake in Yahoo Japan.

Verizon&#39;s $4.83 billion deal for Yahoo&#39;s core internet assets came under renewed scrutiny by federal investigators and lawmakers last month after Yahoo disclosed the largest known data breach in history; one involving some 500 million customer accounts and the second involving over a billion. Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches.

Mayer had said earlier that she planned to stay at Yahoo through the transaction&#39;s close.

(Reuters)

Yahoo said the remaining company would be renamed Altaba Inc after the Verizon deal closes

Yahoo Inc said Chief Executive Officer Marissa Mayer would step down from the board after closing its deal with Verizon Communications Inc. Five other directors would also resign after the deal closes, Yahoo said in an filing. The company named Eric Brandt chairman of the board. The remaining directors will govern Altaba, a holding company whose primary assets will be a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding Ltd and 35.5 per cent stake in Yahoo Japan. Verizon's $4.83 billion deal for Yahoo's core internet assets came under renewed scrutiny by federal investigators and lawmakers last month after Yahoo disclosed the largest known data breach in history; one involving some 500 million customer accounts and the second involving over a billion. Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches. Mayer had said earlier that she planned to stay at Yahoo through the transaction's close. (Reuters)

Yahoo's Marissa Mayer to resign after Verizon deal

US telecom giant Verizon Communications Inc said it had agreed to buy Yahoo Inc&#39;s core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading web pioneer. 
 
Buying Yahoo&#39;s operations will boost Verizon&#39;s AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo&#39;s advertising technology tools as well as other assets such as search, mail and messenger. 
 
The deal marks the end of Yahoo as an operating company, leaving it with a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding Limited and a 35.5 per cent interest in Yahoo Japan Corp. 
 
&quot;The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo,&quot; Yahoo Chief Executive Marissa Mayer said in a statement today. 
 
The sale does not include Yahoo&#39;s cash, its shares in Alibaba, its shares in Yahoo Japan, Yahoo&#39;s convertible notes, certain minority investments and Yahoo&#39;s non-core patents. 
 
The Alibaba and Yahoo Japan investments are worth about $40 billion, while Yahoo had a market value of about $37.4 billion as of Friday&#39;s close. 
 
(Reuters)

Buying Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion

US telecom giant Verizon Communications Inc said it had agreed to buy Yahoo Inc's core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading web pioneer. Buying Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools as well as other assets such as search, mail and messenger. The deal marks the end of Yahoo as an operating company, leaving it with a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding Limited and a 35.5 per cent interest in Yahoo Japan Corp. "The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo," Yahoo Chief Executive Marissa Mayer said in a statement today. The sale does not include Yahoo's cash, its shares in Alibaba, its shares in Yahoo Japan, Yahoo's convertible notes, certain minority investments and Yahoo's non-core patents. The Alibaba and Yahoo Japan investments are worth about $40 billion, while Yahoo had a market value of about $37.4 billion as of Friday's close. (Reuters)

US telecom giant Verizon announces acquisition of Yahoo in $4.83 billion deal

Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion, according to a person familiar with the matter.&nbsp;The announcement will come before the start of New York trading hours, the source added. 
 
The deal will end months of uncertainty about Yahoo&#39;s future after the company announced plans to review strategic alternatives in February.&nbsp;Yahoo and Verizon both declined to comment. 
 
Bloomberg first reported the deal would be announced on Monday for $4.8 billion.&nbsp;It was reported on Friday that Verizon had emerged as the front-runner in the Yahoo auction. 
 
The transaction would boost Verizon&#39;s AOL internet business, which the company acquired last year for $4.4 billion, by giving it access to Yahoo&#39;s advertising technology tools, as well as other assets such as search, mail, messenger and real estate. 
 
It would also mark the end of Yahoo as an operating company, leaving it only as the owner of a 35.5 per cent stake in Yahoo Japan, as well as its 15 per cent interest in Chinese e-commerce company Alibaba Group Holding Ltd (BABA.N). 
 
Started in 1994 by Stanford graduate students Jerry Yang and David Filo, Yahoo in its early years was the destination of choice for many making their first forays onto the World Wide Web. 
 
By 2008, Yahoo was fending off a contentious takeover bid from Microsoft Corp and struggling to define its mission.&nbsp;That question was never really answered, leading to years of management instability and shifting priorities. 
 
In December, Yahoo scrapped plans to spin off its Alibaba stake after investors fretted over whether that transaction could have been carried out on a tax-free basis. It instead decided to explore a sale of its core assets, spurred on by activist hedge fund Starboard Value LP. 
 
(Reuters)

The transaction would boost Verizon's AOL internet business, but will also mark an end of Yahoo as an operating company

Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion, according to a person familiar with the matter. The announcement will come before the start of New York trading hours, the source added. The deal will end months of uncertainty about Yahoo's future after the company announced plans to review strategic alternatives in February. Yahoo and Verizon both declined to comment. Bloomberg first reported the deal would be announced on Monday for $4.8 billion. It was reported on Friday that Verizon had emerged as the front-runner in the Yahoo auction. The transaction would boost Verizon's AOL internet business, which the company acquired last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools, as well as other assets such as search, mail, messenger and real estate. It would also mark the end of Yahoo as an operating company, leaving it only as the owner of a 35.5 per cent stake in Yahoo Japan, as well as its 15 per cent interest in Chinese e-commerce company Alibaba Group Holding Ltd (BABA.N). Started in 1994 by Stanford graduate students Jerry Yang and David Filo, Yahoo in its early years was the destination of choice for many making their first forays onto the World Wide Web. By 2008, Yahoo was fending off a contentious takeover bid from Microsoft Corp and struggling to define its mission. That question was never really answered, leading to years of management instability and shifting priorities. In December, Yahoo scrapped plans to spin off its Alibaba stake after investors fretted over whether that transaction could have been carried out on a tax-free basis. It instead decided to explore a sale of its core assets, spurred on by activist hedge fund Starboard Value LP. (Reuters)

Verizon to announce $5 billion deal to buy Yahoo

Yahoo Inc&#39;s quarterly earnings fell short of Wall Street expectations on Monday in what may be the company&#39;s last financial report before it sells its core business. 
 
Yahoo reported adjusted earnings of 9 cents per share, short of the 10 cents that analysts expected. It also announced a $482 million write-down on the value of Tumblr, the social media service that it acquired in 2013 for $1.1 billion. 
 
Yahoo is in the process of auctioning off its search and advertising business, and is expected to choose a winner this week. The company said its board has made &quot;great progress on strategic alternatives&quot; but did not comment further on the auction process. 
 
Verizon Communications Inc and AT&amp;T Inc are said to be in the running to acquire the core business, along with private equity firm TPG Capital and a consortium led by Quicken Loans founder Dan Gilbert and backed by billionaire Warren Buffett. 
 
Yahoo also owns large stakes in Chinese ecommerce giant Alibaba and Yahoo Japan, which are worth far more than the company&#39;s internet business. 
 
Monday&#39;s earnings report showed the continued slide in Yahoo&#39;s business during the protracted sale process. After the Tumblr write-down, the company posted a net loss of $439.9 million, or 46 cents per share, compared with a loss of $21.6 million, or 2 cents per share, a year earlier. 
 
Although total revenue rose to $1.31 billion from $1.24 billion a year earlier, the seeming improvement was the result of a change in the way the cost of acquiring traffic is counted. After deducting fees paid to partner websites for traffic, revenue fell to $841.2 million from $1.04 billion. 
 
Estimating that Tumblr is worth &quot;nothing&quot; at this point, Ross Gerber, cofounder and CEO of Gerber Kawasaki Wealth and Investment Management, said potential buyers were likely bidding lower than Yahoo believes it is worth. 
 
&quot;I can&#39;t imagine why the sale process is taking so long, the only thing I can think of is it&#39;s being overpriced. This report doesn&#39;t further create an impression that paying up for these assets has any value,&quot; Gerber said. 
 
Revenue in the company&#39;s emerging businesses, which Chief Executive Officer Marissa Mayer calls Mavens- mobile, video, native and social advertising , showed some life, rising 25.7 per cent to $504 million in the second quarter ended June 30. 
 
But the improvement in Mavens was offset by decreases in gross search revenue that is only expected to get worse, said B. Riley &amp; Co analyst Sameet Sinha. Gross search revenue for the quarter was $765 million, down 17 percent from the same period last year. 
 
&quot;This is supposed to be the growth engine of the company, and at best it was up slightly year over year. That shows that even in high-growth categories like mobile and native they&#39;re losing their search impact,&quot; he said. 
 
JMP Securities analyst Ronald Josey said search revenues are a significant portion of Yahoo&#39;s overall revenues and their continued decline could definitely be a factor in the sale negotiations. 
 
&quot;If search continues to decline as much as it has, that&#39;s something that&#39;s going to be called into question,&quot; he said. 
 
In a conference call, Yahoo Chief Financial Officer Ken Goldman touted the company&#39;s cost-cutting efforts. 
 
&ldquo;Through excellent expenditure management of cost and capital, we achieved above the high-end of our guidance on adjusted EBITDA and significantly increased cash flow,&rdquo; he said, referring to earnings before interest, taxes, depreciation and amortisation. 
 
Yahoo&#39;s shares were little changed at $37.92 in trading after the bell. 
 
(Reuters) 
 
&nbsp;

Yahoo announced a $482 million write-down on the value of Tumblr, the social media service that it acquired in 2013 for $1.1 billion

Yahoo Inc's quarterly earnings fell short of Wall Street expectations on Monday in what may be the company's last financial report before it sells its core business. Yahoo reported adjusted earnings of 9 cents per share, short of the 10 cents that analysts expected. It also announced a $482 million write-down on the value of Tumblr, the social media service that it acquired in 2013 for $1.1 billion. Yahoo is in the process of auctioning off its search and advertising business, and is expected to choose a winner this week. The company said its board has made "great progress on strategic alternatives" but did not comment further on the auction process. Verizon Communications Inc and AT&T Inc are said to be in the running to acquire the core business, along with private equity firm TPG Capital and a consortium led by Quicken Loans founder Dan Gilbert and backed by billionaire Warren Buffett. Yahoo also owns large stakes in Chinese ecommerce giant Alibaba and Yahoo Japan, which are worth far more than the company's internet business. Monday's earnings report showed the continued slide in Yahoo's business during the protracted sale process. After the Tumblr write-down, the company posted a net loss of $439.9 million, or 46 cents per share, compared with a loss of $21.6 million, or 2 cents per share, a year earlier. Although total revenue rose to $1.31 billion from $1.24 billion a year earlier, the seeming improvement was the result of a change in the way the cost of acquiring traffic is counted. After deducting fees paid to partner websites for traffic, revenue fell to $841.2 million from $1.04 billion. Estimating that Tumblr is worth "nothing" at this point, Ross Gerber, cofounder and CEO of Gerber Kawasaki Wealth and Investment Management, said potential buyers were likely bidding lower than Yahoo believes it is worth. "I can't imagine why the sale process is taking so long, the only thing I can think of is it's being overpriced. This report doesn't further create an impression that paying up for these assets has any value," Gerber said. Revenue in the company's emerging businesses, which Chief Executive Officer Marissa Mayer calls Mavens- mobile, video, native and social advertising , showed some life, rising 25.7 per cent to $504 million in the second quarter ended June 30. But the improvement in Mavens was offset by decreases in gross search revenue that is only expected to get worse, said B. Riley & Co analyst Sameet Sinha. Gross search revenue for the quarter was $765 million, down 17 percent from the same period last year. "This is supposed to be the growth engine of the company, and at best it was up slightly year over year. That shows that even in high-growth categories like mobile and native they're losing their search impact," he said. JMP Securities analyst Ronald Josey said search revenues are a significant portion of Yahoo's overall revenues and their continued decline could definitely be a factor in the sale negotiations. "If search continues to decline as much as it has, that's something that's going to be called into question," he said. In a conference call, Yahoo Chief Financial Officer Ken Goldman touted the company's cost-cutting efforts. “Through excellent expenditure management of cost and capital, we achieved above the high-end of our guidance on adjusted EBITDA and significantly increased cash flow,” he said, referring to earnings before interest, taxes, depreciation and amortisation. Yahoo's shares were little changed at $37.92 in trading after the bell. (Reuters)

Yahoo reports lacklustre results as sale looms

Wall Street was set to open higher today, setting the stage for the Dow and S&amp;P 500 to hit fresh highs, as US corporate reports continue to top expectations. 
 
Equity futures, which dipped after the close on Friday, shrugged off the impact of an attempted coup in Turkey. 
 
With the S&amp;P and Dow hitting record intraday highs almost everyday last week, investors will assess the quality of second-quarter earnings to justify stock valuations. 
 
&quot;The markets are going to be driven by earnings reports while geopolitical problems take a backseat for now,&quot; said Peter Cardillo, chief market economist at First Standard Financial in New York. 
 
Bank of America profits show corporations making money&nbsp; 
 
Bank of America, the number 2 US bank by assets, and fellow S&amp;P component Hasbro posted better than expected profit for the second quarter, mirroring the results of the few companies, including big banks, that reported last week. 
 
&quot;The handful of results that we have got have been okay and earnings have mostly beaten expectations. It shows that corporations are still making money, and that&#39;s what counts,&quot; Cardillo said. 
 
Dow e-minis were up 32 points, or 0.17 per cent at 8:27 a.m. ET (1227 GMT), with 28,500 contracts changing hands. 
 
S&amp;P 500 e-minis were up 5.75 points, or 0.27 per cent, with 186,056 contracts traded. 
 
Nasdaq 100 e-minis were up 10.5 points, or 0.23 per cent, on volume of 25,766 contracts. 
 
Bank of America shares rose nearly 1 per cent to $13.79 premarket. Hasbro was off 0.6 pe rcent. 
 
Investors favouring riskier assets? &nbsp; 
 
British chip designer ARM&#39;s US-listed shares surged 43.5 per cent to $67.64 premarket, after Japan&#39;s SoftBank agreed to buy the company for $32.2 billion. 
 
A host of US chip stock such as Micron, Nvidia and Broadcom were up between 1.0 and 1.5 per cent. 
 
Earnings of S&amp;P 500 companies are now estimated to have declined 4.7 per cent in the second quarter, less than the 5 per cent drop estimated earlier, according to Thomson Reuters data. 
 
That adds to hopes that earnings contraction bottomed out in the previous quarter, a view that could be reinforced when IBM, Yahoo and Netflix report results after markets close. 
 
Gold prices have fallen, while the yen was lower, indicating investors&#39; favour for more riskier assets has been growing after weeks of uncertainty. Low Treasury yields in recent weeks have also helped steer investors to equities. 
 
(Reuters)&nbsp; 
&nbsp;

Equity futures, which dipped after the close on Friday, shrugged off the impact of an attempted coup in Turkey

Wall Street was set to open higher today, setting the stage for the Dow and S&P 500 to hit fresh highs, as US corporate reports continue to top expectations. Equity futures, which dipped after the close on Friday, shrugged off the impact of an attempted coup in Turkey. With the S&P and Dow hitting record intraday highs almost everyday last week, investors will assess the quality of second-quarter earnings to justify stock valuations. "The markets are going to be driven by earnings reports while geopolitical problems take a backseat for now," said Peter Cardillo, chief market economist at First Standard Financial in New York. Bank of America profits show corporations making money Bank of America, the number 2 US bank by assets, and fellow S&P component Hasbro posted better than expected profit for the second quarter, mirroring the results of the few companies, including big banks, that reported last week. "The handful of results that we have got have been okay and earnings have mostly beaten expectations. It shows that corporations are still making money, and that's what counts," Cardillo said. Dow e-minis were up 32 points, or 0.17 per cent at 8:27 a.m. ET (1227 GMT), with 28,500 contracts changing hands. S&P 500 e-minis were up 5.75 points, or 0.27 per cent, with 186,056 contracts traded. Nasdaq 100 e-minis were up 10.5 points, or 0.23 per cent, on volume of 25,766 contracts. Bank of America shares rose nearly 1 per cent to $13.79 premarket. Hasbro was off 0.6 pe rcent. Investors favouring riskier assets? British chip designer ARM's US-listed shares surged 43.5 per cent to $67.64 premarket, after Japan's SoftBank agreed to buy the company for $32.2 billion. A host of US chip stock such as Micron, Nvidia and Broadcom were up between 1.0 and 1.5 per cent. Earnings of S&P 500 companies are now estimated to have declined 4.7 per cent in the second quarter, less than the 5 per cent drop estimated earlier, according to Thomson Reuters data. That adds to hopes that earnings contraction bottomed out in the previous quarter, a view that could be reinforced when IBM, Yahoo and Netflix report results after markets close. Gold prices have fallen, while the yen was lower, indicating investors' favour for more riskier assets has been growing after weeks of uncertainty. Low Treasury yields in recent weeks have also helped steer investors to equities. (Reuters)

Wall Street gears up for upbeat earnings

yahoo

Yahoo, News on Yahoo, stories on Yahoo, articles on Yahoo, Yahoo stories at Wion, Yahoo news, Yahoo latest news