Economics

Yahoo, one of the world's most popular search engines, is said to have approved a $1.1bn deal to buy blogging service Tumblr, according to reports.

Online encyclopedia Wikipedia could be used to indicate future movements in the stock market, a new study has suggested.

Shares in online grocer Ocado have risen 30% this morning on news of a deal to provide fellow retailer Morrisons with an online delivery service.

Former BP chief executive Tony Hayward will become interim chairman of merged commodities giant Glencore Xstrata, after shareholders ousted Xstrata incumbent Sir John Bond.

Turkey's credit rating has been lifted to investment grade by Moody's for the first time in two decades, in recognition of reductions to its debt and current account deficits.

JAPAN

The High Court has ruled HM Revenue and Customs' 2010 tax deal with Goldman Sachs was not illegal.

US-based Janus Capital has replaced the manager of its US Twenty fund Ron Sachs, who will exit the group this month.

The Japanese economy grew faster than any other G7 country in the first quarter of the year, reflecting the benefit of Prime Minister Shinzo Abe's expansionary policies.

The final Inflation Report of governor Mervyn King's term has seen the Bank of England revise up growth forecasts but caution inflation will still likely peak above 3% this year.