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; she also launched her own Tumblr and showed a sense of humor over the "WFH" debate) 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...

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...

Hailed as the "internet's highest honor" by the New York Times, the Webby Awards assess thousands of entries every year in an effort to recognize outstanding brands, initiatives, designs and individuals across the internet.

This year's awards garnered 11,000 entries from all 50 states and over 60 countries, with people in more than 200 countries voting online in the People's Voice awards.

The 2013 winners include special honors for music artist Frank Ocean, the Obama for America 2012 presidential campaign, and Minnesota Vikings punter Chris Kluwe, who spearheaded online activism in support of gay rights.

Brands taking home awards this year include Change.org, Google Maps and Glassdoor. brandchannel's parent company, Interbrand, was nominated in the Best Visual Design- Function category for its Best Global Brands 2012 website.

Here's how some other top brands made out this year:Continue reading...

Since its inception in 1970s Paris, Sephora has been a disruptive force within the beauty industry. Today, the retailer has 1,750 stores in 30 countries and is turning out revenues upwards of $4 billion.

From its very birth, “this new stand-alone beauty and fragrance store was a real shock for store operators throughout the world,” notes Forbes. “The department stores believed they had the only retail format capable of effectively selling premium beauty and fragrance products. They were wrong.”

Acquired by Louis Vuitton Moet Hennessy in 1997, the first Sephora store opened in New York in 1998. Today there are close to 706 stores in the US, including 386 boutiques inside JCPenney stores, a key element that has kept the ailing department store from drowning. Breaking the barrier of entry, Sephora applied that iconoclastic spirit to wooing a new, younger consumer than those frequenting department stores, with modern brands and a cross-sell of products by in-store sales associates who primp and paint customer’s faces from their choice of products, arranged alphabetically.Continue reading...

Social media mavens gathered in New York City Monday night for the 5th annual Shorty Awards, which honors the best short form content across Twitter, Facebook, Tumblr, YouTube, Foursquare and more. 

Considered the Oscars for Twitter, the of-the-moment awards ceremony garnered more than 1.8 million tweet nominations during this year's voting process. With acceptance speeches limited to 140 characters, the awards capture the brightest spots on social, from the most viral memes to the most shared social campaigns. 

Started in 2008 by tech startup Sawhorse Media, the first Shorty Awards catered to a small audience of 300, but since then, the importance of social media campaigns have grown exponentially.Continue reading...

1 in 88 children born today will have autism, according to the CDC's latest prevalence report. April is awareness month for the fastest growing developmental disorder in the U.S., and brands are doing their part to shine a (blue) light on those affected and contribute to research. 

JetBlue’s “Wings for Autism” program works with local autism awareness groups to aid families with special needs children while traveling. The program, which was initiated at Boston's Logan International Airport, allows families to familiarize their children with the flying process ahead of time, including the sights and sounds, which austistic children are particularly sensitive to. On May 6, the program will be featured at Long Beach and Burbank airports, with plans to host a similar event at New York's JFK International Airport later this year.Continue reading...

A Canadian beer brand (ostensibly), in a stroke of marketing genius, has major alcohol brands jumping on its ad bandwagon promoting “Responsibly Beer.”

It’s actually an ad campaign by the Alberta Liquor and Gaming Commission and there’s no actual beer brand—just pure advertising to influence drinkers to do so responsibly.

The provincial AGLC went all-out with the ploy, creating an age-verification splash page, a Facebook page, Instagrammed "Responsibly" beer cans on Twitter and a Pinterest, too.

“The idea was to play on the very common slogan ‘drink responsibly’ to catch people’s attention, which will hopefully get them to our website enjoyresponsibly.ca to find out more about the concept behind the fictional product," said AGLC spokeswoman Michelle Hynes-Dawson, FoodBeast reports. It's "about giving a definition to 'responsibly' and moderation.”

“In terms of Facebook and Twitter, it worked well with the campaign concept and the demographic we are trying to reach," she added of the focus on young adults between 18 (the province's legal drinking age) and 24 years-old.Continue reading...