Alibaba in major initiative to court China consumer for U.S. retailers: China's Alibaba Group Holding Ltd (BABA.N) plans a major move to win U.S. business this year, by offering American retailers new ways to sell to China's vast and growing middle class.
Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world's largest Internet retailer is using the calling card of China's consumers to attract U.S. partners, two sources close to the company told Reuters. (Reuters)
Yahoo reorganizes ad product team, says memo to staff: Marissa Mayer is reorganizing management at Yahoo as part of her effort to jumpstart the company's stagnant advertising business.
Prashant Fuloria, a veteran Internet product manager who joined Yahoo last year when it bought his former employer, mobile-ad startup Flurry, will oversee all ad products at the company, Mayer told staff this week in a memo obtained by The Wall Street Journal. (The Wall Street Journal)
Apple, Google, Intel, and Adobe agree to pay $415M to settle poaching suit: Apple, Google, Intel, and Adobe have agreed to pay $415 million to resolve a class action antitrust lawsuit filed by tech workers who said the companies made an agreement to not hire each other's employees. (Venture Beat)