Yahoo Inc. on Tuesday said it plans to pull out of China, citing an 'increasingly challenging business and legal environment.' The company said in a statement that its services will no longer be accessible from mainland China as of Nov. 1.
AOL and Yahoo are being sold again, this time to a private equity firm. Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a US$5 billion deal.
Nearly 200 million people who had sensitive information snatched from their Yahoo accounts will receive two years of free credit-monitoring services and other potential restitution in a legal settlement valued at $117.5 million.
Yahoo's parent company has dropped a controversial new term of service that would have required its Canadian users to share data from their friends and contacts, including phone numbers, with the U.S.-based multinational group.
The company formerly known as Yahoo is paying a $35 million fine to resolve U.S. federal regulators' charges that the online pioneer deceived investors by failing to disclose one of the biggest data breaches in internet history.
The father of a Canadian man accused in a massive hack of Yahoo emails told an Ontario court Wednesday that he'd keep all electronic devices locked away and out of his son's reach if his child is released on bail.