THE NEWS WRAP: Yahoo grabs PayPal chief Scott Thompson as CEO

Troubled internet giant Yahoo has appointed PayPal chief Scott Thompson as its new CEO, four months after its controversial sacking of Carol Bartz.


Yahoo said that Thompson would focus on its core business in order to bring “increased value” to shareholders. The listed business also dismissed suggestions that it would go private.


Yahoo endured a slew of negative headlines over its sacking of Bartz, who revealed to staff that she was dismissed via a phone call.



E*Trade hit by cyber attack


Online broking business E*Trade was forced to shut services for some customers overseas during the  Christmas and New Year period due to a “malicious” overseas cyber attack, parent company ANZ has admitted.


A “denial of service” attack, where the site was bombarded by thousands of emails, locked out customers who tried to access the service from offshore. 



Aakash tablet flies off the shelves


The latest rival to Apple’s iPad, dubbed the “world’s cheapest computer”, has proven a hit in India, the country of its manufacture.


The Aakash tablet is priced at $45 and already has 400,000 pre-sales bookings. The product is due to be rolled out internationally later this year.





The Dow Jones industrial average was down 0.26% to 12,397.12. The Australian dollar was up to 103.55 US cents.


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