Technology

Yahoo reboots Flickr, offers 1 terabyte of storage

NEW YORK (AP) — Fresh on the heels of its $1.1 billion acquisition of Tumblr, Yahoo says it is rebooting its languishing photo-sharing site Flickr with plans to make it "awesome" again.

Yahoo Inc. said at an event in New York City's Times Square on Monday that it is now offering users 1 terabyte of online storage for free. One terabyte is 1,024 gigabytes — enough to store more than 500,000 images at a resolution common to most smartphones.

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UPDATED 2:35 AM EDT, May 21, 2013

Should we let wunderkinds drop out of high school?

NEW YORK (AP) — It's one thing to say tech geniuses don't need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college.

But now we've got David Karp, who doesn't even have a high school diploma. Karp, 26, founded Tumblr, the online blogging forum, and sold it to Yahoo for $1.1 billion.

Which raises the question: When is it OK for a wunderkind to drop out of school?

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UPDATED 2:35 AM EDT, May 21, 2013

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.

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UPDATED 2:35 AM EDT, May 21, 2013

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.

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UPDATED 15:33 PM EDT, May 20, 2013

Idaho couple and Sun Valley in Twitter tussle

BOISE, Idaho (AP) — A central Idaho couple is suing the Sun Valley Co. and the Twitter Inc. social media site, asking a judge to bar the resort from using the handle "SunValley."

Leonard Barshack and Erin Smith, the husband and wife, also say Twitter should return the username to them because they'd been using it for nearly three years and weren't impersonating the Idaho resort.

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UPDATED 15:33 PM EDT, May 20, 2013

Blackstone group offers to take Pactera private

Private equity firm Blackstone Group LP, along with Pactera's CEO and other managers, have offered to take Pactera private in a deal that values the Chinese technology consulting and outsourcing firm at $680.4 million.

Shares rose 31 percent Monday. Through Friday's close, before news of the offer, Pactera's stock had lost about two-thirds of its value over the past year.

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UPDATED 12:32 PM EDT, May 20, 2013

Seamless and GrubHub to combine, no terms revealed

CHICAGO (AP) — Seamless North America and GrubHub on Monday announced plans to combine and create an online food ordering service covering more than 20,000 restaurants in 500 cities across the U.S.

Financial terms were not disclosed. GrubHub CEO Matt Maloney will become CEO of the combined company. Seamless CEO Jonathan Zabusky will serve as president.

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UPDATED 12:32 PM EDT, May 20, 2013

High court uphold FCC power in cell tower disputes

WASHINGTON (AP) — The Supreme Court has affirmed the authority of federal regulators to try to speed local government decisions on proposals to build or expand cell phone towers.

The court voted 6-3 Monday to uphold an appeals court ruling in favor the Federal Communications Commission.

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UPDATED 10:31 AM EDT, May 20, 2013

Yahoo takes big leap with $1.1B deal for Tumblr

SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.

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UPDATED 19:18 PM EDT, May 17, 2013

Yahoo CEO to announce 'something special' in NYC

NEW YORK (AP) — Yahoo CEO Marissa Mayer is promising to unveil "something special" Monday in New York as she tries to attract more traffic and advertising to the Internet company.

The Sunnyvale, Calif., company gave no further details Friday other than that Mayer will be discussing a product. Reporters are being invited to attend the 5 p.m. event at a lounge located in New York's Times Square.

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