Latest Business News: Yahoo Completes Blockbuster $1.1 Billion Tumblr Acquisition

Wochit 0:49 mins

Exactly one month after announcing plans to acquire microblogging platform Tumblr for $1.1 billion, Yahoo has closed the deal. The Internet giant just announced that it officially owns Tumblr. Dutch sports car maker Spyker NV said it will appeal a U.S. judge's decision to dismiss its $3 billion lawsuit accusing General Motors Co of trying to bankrupt Swedish automaker Saab. Home resales rose in May to the highest level in 3-1/2 years and prices jumped,a sign the housing sector recovery is gathering steam and could give the economy a significant boost this year.

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