Yahoo's first-quarter results showed signs of progress that may help boost the credibility of recently hired chief executive Scott Thompson as he tries to turn around the long-suffering internet company.

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

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.