Bausch & Lomb board approves $4.5 billion sale to Canada's Valeant Pharmaceuticals.

Nextflix makes waves with Arrested Development reboot as Hulu sees bidders jostle with Yahoo.

Monsanto targeted by worldwide protests over GMOs.

Club Med brand sees takeover bid from China's Fosun and AXA.

Apple grapples with PR fallout from U.S. tax-dodging inquiry as original model nabs $650,000 at auction.

Better Place, Israel's electric car brand, packs it in and files for bankruptcy as Renault ends partnership.

BP-sponsored art exhibit at London's Tate Britain hailed by critics.

Fast and Furious 6 sets Memorial Day weekend box office record.

HTC One plays catch-up with Samsung's Galaxy smartphones.

McDonald's CEO-scolder Hannah Robertson, 9, becomes a media sensation.

SABMiller promotes cassava beer in Africa.

Woolrich parts ways with designer Mark McNairy, goes "on hiatus."

& Jimmy Buffett's "Margaritaville": "the most lucrative song ever."

The Facebook generation is so over Facebook, according to a new report from the Pew Research Center.

After surveying 802 teens, ages 12 to 17 about their online habits, it turns out that Facebook has become a "social burden." "While Facebook is still deeply integrated in teens’ everyday lives, it is sometimes seen as a utility and an obligation rather than an exciting new platform that teens can claim as their own." 

While 94 percent of teens are maintaining their Facebook accounts, more and more continue to migrate to Twitter and Instagram as largely parent-free zones that give them a greater ability to freely express themselves. According to the survey, 11 percent of teens had Instagram accounts, 5 percent have Tumblr accounts and 7 percent have accounts on Myspace.Continue reading...

In what was quite an eventful day for the aging internet company, Yahoo announced significant changes to Flickr at a media event in New York City on Monday—a perfectly timed distraction from concerns buzzing over its same-day Tumblr acquisition.

As announced at the press conference and on its blog, Flickr is back after a rough ride with a new design, photo-centric layout and one full terabyte of storage—way more than most users could ever use. “Given the odd nature of most photo sharing services, you are either limited to a few dozen gigabytes or, in the case of Instagram and other mobile services, an unstated upper limit that is not part of the marketing collateral. While I don’t doubt that Google or Facebook could make the terabyte claim in the near future, being first to market with this particular feature is an important milestone," TechCrunch notes.

Acquired by Yahoo in 2005, the service has since spoiled under Yahoo's rule, however CEO Marissa Mayer said she received an abundance of requests to improve the serice when she took the helm last year. “Flickr was once awesome, and it languished... now we want it to be awesome again," Mayer said in a press announcement. The service reaches 89 million people who have contributed over 8 billion photos, and with the new improvements, the service is bound to attract many more.Continue reading...

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...

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...