Yahoo looks to regain its cool with Tumblr deal SAN FRANCISCO (AP) -- After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr in a risky acquisition that revolves around the vision and instincts of a 26-year-old entrepreneur who dropped out of high school to pursue his dream of bringing more beauty and creativity to the Internet....
Asia stocks fall ahead of Fed statements BANGKOK (AP) -- Asian stock markets fell Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program....
Average credit card debt, late payments fall in 1Q LOS ANGELES (AP) -- Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt....
Should we let wunderkinds drop out of high school? NEW YORK (AP) -- Thomas Sohmers, 17, of Hudson, Mass., has been working at a research lab at the Massachusetts Institute of Technology since he was 13, developing projects ranging from augmented reality eyewear to laser communications systems. This spring, his mom, Penny Mills, let him drop out of 11th grade. She says she "could see how much of the work he was doing at school wasn't relevant to what he wanted to learn."...
Tumblr CEO's mom gushes over billion-dollar baby NEW YORK (AP) -- As a teenager, Tumblr CEO David Karp would canvass the streets of New York City's Upper West Side, offering to build websites for local businesses. After his freshman year of high school, the precocious, computer-savvy kid decided to drop out altogether to devote more time to his passion for technology....
Panel: Apple uses firms outside US to avoid taxes WASHINGTON (AP) -- Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found....
Senate to debate crop insurance in farm bill WASHINGTON (AP) -- The Senate is debating cuts to the federally subsidized crop insurance program as it considers a massive farm bill this week....
Actavis buying Warner Chilcott in $8.5B deal NEW YORK (AP) -- Actavis is buying Warner Chilcott in an all-stock deal valued at about $8.5 billion that would create the third-biggest specialty pharmaceutical company in the U.S. market....
Committee nears final big immigration decisions WASHINGTON (AP) -- The Senate Judiciary Committee hopes to nail down an elusive compromise on high-tech visas and may punt a controversy over gay marriage to the full Senate as it makes final drafting decisions on immigration legislation that grants a shot at citizenship to millions living in the country illegally....
Russian oligarchs foot most of 2014 Sochi Olympics SOCHI, Russia (AP) -- The mountains of Sochi are now home to Potanin's slope, Gazprom's gondola lift and Sberbank's ski jump. The nicknames used by locals and an army of construction workers leave no doubt about who is paying for the 2014 Winter Games: Russia's business powerhouses....