Yahoo co-founder Jerry Yang is leaving the struggling internet company, as it tries to revive its revenue growth and win over disgruntled shareholders under a new leader.

US internet giant Google is considering a bid for rival Yahoo!.

The chief executive of Chinese internet company Alibaba Group Holding says he would be “very interested” in buying Yahoo.

US stocks closed sharply lower after Federal Reserve chairman Ben Bernanke offered no new insight into whether the central bank will act soon to prop up the economy.

YAHOO chairman Roy Bostock fired the company’s chief executive Carol Bartz over the phone yesterday, ending a tenure marked by stagnation and a rift with Chinese partner Alibaba.

Carol Bartz was fired as Yahoo's chief executive nearly three years into a tenure in which the company fell short of the turnaround she was charged with leading.

YAHOO has said an important partnership with Microsoft is taking longer than expected to pay off, but the company posted quarterly earnings that topped Wall Street targets, sending shares up in after-hours trading.