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Yahoo to spin off Alibaba stake, reports flat Q4 results
Sunnyvale, Calif. – Yahoo Inc. plans a tax-free spin-off of its remaining holdings in Alibaba Group. The spinoff will create an independent registered investment company called SpinCo.
Stock of the new company will be distributed pro rata to Yahoo shareholders, resulting in SpinCo becoming a separate publicly traded company. Following the spin-off, Yahoo will continue to operate its core business and hold its 35.5% interest in Yahoo Japan.
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Ikea continues U.S. expansion with new Ohio store
Columbus, Ohio -- Ikea announced that it is submitting plans to the City of Columbus, Ohio, for a store that would increase the Swedish furniture retailer’s Ohio presence to two stores. The newest store, located in the Polaris Centers of Commerce development about 15 miles north of downtown Columbus, is slated to open summer 2017.

