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Internet ‘economy’ to hit $4.2 trillion by 2016: study

SAN FRANCISCO — Online business is playing an increasingly powerful role in national economies and is projected to account for $4.2 trillion of the Group of 20 nations’ total gross domestic product by the year 2016. The “Internet economy” will grow at a rate of eight percent annually in developed…

Yahoo plans restructuring that could result in thousands of layoffs

SAN FRANCISCO (Reuters) – Yahoo Inc’s new chief executive is preparing a significant restructuring of the Internet company, including layoffs that could cut thousands of employees from its payroll, according to a technology blog. The moves could be announced as soon as the end of the month and would represent…