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Mexican court tosses $2.7 billion penalty in Yahoo! case

Yahoo! announced on Thursday that a Mexican appeals court tossed out a $2.7 billion dollar damages award in a breach of contract lawsuit. “The appellate decision overturned all monetary awards against Yahoo! Inc. and reduced the monetary award against Yahoo! Mexico to $172,500,” the California-based Internet pioneer said in a…

Yahoo plans to end South Korea operations by the end of the year

Yahoo Inc. said Friday it will close its South Korean operations by the end of this year, citing a challenging business environment as it struggles to compete in a market dominated by local web portals. “The Korean operation has been faced with a lot of challenges and has slowed Yahoo’s…