Apple accused of avoiding billions in overseas taxes. 

Hershey launches new brand to get piece of China market.

Foxconn confirms employee deaths.

Best Buy swings to a loss on lower revenues.

Burberry is lifted by China performance.

Chevrolet joins Mad Men buzz on Twitter.

Chris-Craft rebuilds boat maker after recession.

Flowers Foods predicts "record year" after acquisition of Hostess brands.

Giorgio Armani profit is boosted by Asia.

GrubHub and Seamless merge their food ordering services.Continue reading...

In what Yahoo hopes to be a life-altering deal, the aging internet company acquired social media site Tumblr for $1.1 billion, affectively gaining the attention of millions of users that visit Tumblr monthly (that is, if they all don't jump ship first).

Purchase rumors began to swirl last week after the company's CFO Ken Goldman spoke of Yahoo's "aging demographic" and their need to be "cool" again. With the acquisition now official, Yahoo will suddenly be knee deep in the content-consuming, uber-engaged millennials that it craves, but the question is whether Tumblr's core users will stick around for fear that Yahoo will alter the blogging site—or whether advertisers and brands can handle the rough-and-tumble world of Tumblr.

However, CEO Marissa Mayer was quick to assure users (with her first Tumblr post, of course) that Yahoo would "not screw it up" and had no plans to tamper with the site or its crew. Mayer's post, in the copyright-flouting spirit of Tumblr, used an image that without first getting its creator's permission.

Founder David Karp—who is slated to become Forbes' youngest billionaire—will remain at the head of the company along with his team. According to Mayer, it seems the only major plans Yahoo has for Tumblr (besides not screwing it up) are more opportunities for native advertising (aka advertorials or sponsored content, which Karp & Co. have been testing in the wake of earlier stumbles) in addition to implementing Yahoo search on Tumblr to start mining all that juicy millennial user data.Continue reading...

Yahoo agrees to buy Tumblr for $1.1 billion, but questions already arise about how new native ads will affect cachet.

Buick Motor Co. celebrates 110 years. 

P&G launches major review of its advertising ROI.

Actavis acquires Warner Chilcott in $5 billion pharma deal.

Billabong sees brand value drop after failed buyout attempts.

Campbell Soup meets high earnings hopes.

Chrysler quality now rivals Toyota, exec claims.

DirecTV considers bid for Hulu.

Domino's debuts DVD that smells like pizza.

GM accelerates financial and operational streamlining, CFO says.

Google may allow branded apps for Glass.Continue reading...

As it explores new revenue streams and strategies to build out its web platform, Yahoo may be looking to invest in a platform that is sure to bring it plenty of the millennials it craves. 

According to a report by All Things D, sources close to Yahoo! have said that the company may be considering a "strategic investment in or outright buy" of social blogging mecca Tumblr. After all, the startup, which is valued around $800 million, is one of the most popular social platforms and has become increasingly a part of branding arsenals as companies take advantage of its photo-heavy community.

Update: The acquisition was approved by Yahoo's board on Sunday, and announced via a press release, David Karp's Tumblr post and Marissa Mayer's first Tumblr post on Monday morning. The tl;dr version: Yahoo promises to leave the Tumblr brand independent and "not screw it up," leaving Karp as CEO and its staff intact. Yahoo will get access to Tumblr's 300 million monthly unique visitors; Tumblr gets the backing to continue its product roadmap and Karp's vision.Continue reading...

Yahoo is seeking a younger demographic as it looks to shed its outdated image and reliance on an “aging demographic." The internet brand plans to ramp up advertising and marketing to the younger set. 

"Part of it is going to be just visibility again in making ourselves cool, which we got away from for a couple of years," CFO Ken Goldman said at Tuesday’s J.P. Morgan Global Technology, Media and Telecom conference in Boston, according to Reuters. "Cool" includes greater visibility on outdoor billboards and at sporting events to catch the eye of 18- to 34-year-olds and promote new products, which will require a significant ad spend across multiple media.

Since taking the helm last summer (and instating a controversial no work-from-home policy) Marissa Mayer has already launched new versions of Yahoo's web email and Flickr photo sharing service and acquired several small start-ups, setting Yahoo stocks up for a near 70 percent surge. But analysts attribute the rise, at least in part, to stock buybacks and the growing value of Yahoo's Asian portfolio. "I do like the idea of buying back stock," said Goldman. "So I don't necessarily suggest at all that the fact that we've got a little bit more to go on the existing purchase does not mean that we would not go beyond that and buy more."Continue reading...

Bangladesh plans to raise pay for garment workers and allow unions.

ABC veteran Barbara Walters announces 2014 retirement as Disney plans to live-stream ABC programming via app and cloud.

Yum! sales in China fall 29 percent in April.

ABB says CEO plans to resign.

Audi outsells BMW brand globally — again.

Bloomberg admits use of its terminals for data snooping.

CBS chief touts TV over digital engagement.

Cisco tries reinvention in tough time.

Danone sets deal to acquire Happy Family brand.Continue reading...

The technology world is an unforgiving battleground for brands that fail to catch hold. Windows 8, Microsoft's highly touted operating system seems to be one of those brands that didn't quite take off as expected.

Even as Microsoft pursues a re-branding based around the new Windows design, the word on the street is that Windows 8 will be getting an "update" later this year. Read that as an attempt to fix problems that have been frustrating both consumers and device manufacturers. Tami Reller, head of Microsoft's Windows division, was blunt in telling the Associated Press, "Are there things that we can do to improve the experience? Absolutely. There is a learning curve and we can work to address that."Continue reading...

SAP moves into cloud computing as brand projects $10B boost from banking software.

Coca-Cola plans to invest $2 billion in Florida orange groves.

Disney second quarter soars 32% on theme parks, ESPN ad sales as company withdraws trademark application for Dia de los Muertos.

Alibaba IPO anticipation grows on revenue surge.

American Airlines launches Klout-based promo.

AOL profits boosted by advertising.

AT&T presses case in lower bandwidth spectrum case.

Bitcoin startups begin to attract real cash.

Burger King makes bold move with delivery expansion.Continue reading...