Yahoo's $1.1 billion deal for Tumblr is a fairy-tale ending for the blogging site, which fetched a rich price despite its meager revenue. Many other highflying Web startups may not be as lucky.
Philip Morris International has agreed to buy the 20% that it doesn't already own in its Mexican tobacco business for about $700 million. The stake is currently held by Grupo Carso SAB, a conglomerate founded by Carlos Slim.
British retailer Marks & Spencer reported another set of lackluster earnings, putting Chief Executive Marc Bolland under the spotlight after three years in charge.
Home Depot raised its full-year outlook and said net profit jumped 18%, helped by the recovering housing market and sales related to reconstruction in the wake of superstorm Sandy.
J.P. Morgan shareholders rejected a proposal to split James Dimon's dual roles as chief executive and chairman, and re-elected all the members of the bank's board.
Two more executives of a Japanese auto parts maker have agreed to plead guilty to fixing prices on new-car parts and will spend more than a year in a U.S. prison.
The Irish government denied it is sheltering some of the world's largest corporations, such as Apple, from paying taxes, saying the country's long-standing low corporation tax regime is transparent and doesn't make it a tax haven.
It took Whirlpool eight months to close a 1,000-person factory in Arkansas last year amid falling sales. In Italy, the company has been trying for three years to cut 500 jobs—with only partial success.
