Yahoo salvages Verizon deal with $350 million discount

Yahoo is taking a $350 million hit on its previously announced $4.8 billion sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts.

The revised agreement, announced Tuesday, eases investor worries that Verizon Communications Inc. would demand a discount of at least $1 billion or cancel the deal entirely.

The hacking bombshells, disclosed after the two companies agreed on a sale, represent the two biggest security breaches in internet history.

Yahoo CEO gives birth to twin girls after big announcement

Yahoo CEO Marissa Mayer has followed a major business announcement with some big personal news.

She gave birth to twin girls Thursday, the day after unveiling plans to hatch a new company to control Yahoo's Internet business.

This is the second time that the 40-year-old Mayer has given birth since Yahoo hired her as CEO in July 2012. She and her husband, Zachary Bogue, have a 3-year-old son, Macallister.

Yahoo's new plan: Spin off itself, not its Alibaba stake

Internet pioneer Yahoo, under pressure from unhappy shareholders and desperate to avoid a huge investment-related tax bill, will break itself apart — just not in the way it had previously planned.

The company will now aim to spin off its struggling Internet business — essentially, everything associated with the Yahoo brand name — into a new company. Yahoo itself would then become little more than a holding company for its $32 billion stake in Chinese e-commerce giant Alibaba.

Yahoo mulls shareholder demand to sell Internet business

Yahoo's board is considering an activist shareholder's demand to sell the Internet services the company is best known for, a maneuver that might help the company dodge a tax bill of more than $10 billion looming over its holdings in China's Alibaba Group.

The boardroom intrigue revolves around a recent proposal from Starboard Value, a New York hedge fund that been pressuring Yahoo CEO Marissa Mayer to take dramatic steps to boost the company's stock.