By Alexei Oreskovic

(Reuters) – The U.S. Federal Trade Commission has reached out to Google Inc and Twitter in an investigation into Facebook Inc’s $1 billion acquisition of photo-sharing service Instagram, a source familiar with the probe told Reuters.

It was not immediately clear what specific information the FTC was looking for, the source said. The Commission automatically initiates a review of any acquisition of significant size.

SAN FRANCISCO (Reuters) – Yahoo Inc Chief Executive Scott Thompson never provided a resume or incorrect information to Yahoo, he told top executives at a meeting on Thursday, according to a source familiar with the matter.

Thompson held a meeting with his top people on Thursday to address a controversy over the educational background that erupted a week ago.

SAN FRANCISCO (Reuters) – Facebook Inc unveiled a new hub for consumers to find games and other apps on the social network, including its first storefront for selling paid apps, in the company’s latest effort to expand the ways it makes money from its massive audience.

The new App Center, which Facebook said will launch in the next few weeks, comes as the company is preparing an initial public offering that would value the company between $77 billion and $96 billion.

SAN FRANCISCO, May 9 (Reuters) – Yahoo Inc’s
largest outside shareholder said the Internet company should
make its finance chief or head of media the interim chief
executive because of the controversy surrounding CEO Scott
Thompson’s educational background.

Third Point, an activist hedge fund waging a bitter proxy
battle against Yahoo’s board and which exposed inaccuracies in
Thompson’s official biography last week, repeated its demand on
Wednesday that Yahoo fire Thompson and install four of its
hand-picked director candidates to the board.

SAN FRANCISCO, May 9 (Reuters) – Yahoo Inc’s
largest outside shareholder said the Internet company should
make its finance chief or head of media the interim chief
executive because of the controversy surrounding CEO Scott
Thompson’s educational background.

Third Point, which is waging a bitter proxy battle against
Yahoo’s board and which exposed inaccuracies in Thompson’s
official biography last week, repeated its demand on Wednesday
that Yahoo fire Thompson and install four of its handpicked
director candidates to the board.

SAN FRANCISCO (Reuters) – Yahoo Inc director Patti Hart will not seek re-election to Yahoo’s board, according to a source familiar with the matter, as the Internet company finds itself engulfed in a controversy over its new chief executive’s educational background.

Hart led the search committee that hired Scott Thompson, the president of PayPal, to take the CEO reins at Yahoo in January.

SAN FRANCISCO, May 7 (Reuters) – Yahoo Inc’s board
convened on Monday afternoon to discuss the mounting upset
surrounding Chief Executive Scott Thompson, who has apologized
to employees after being accused last week by activist investor
Daniel Loeb of padding his resume, a source with knowledge of
the matter said.

The source, who declined to be identified because of the
sensitivity of the issue, said the board meeting was expected to
address aspects of an internal review, including which board
members would participate.

SAN FRANCISCO (Reuters) – Yahoo Inc could be weeks away from selling 15 percent to 25 percent of Alibaba Group’s stock back to China’s largest e-commerce company, in a deal designed to eliminate complexities that had scuttled the parties’ previous negotiations, a person familiar with the matter said.

The two companies have been in talks for a month, the person said, but cautioned that there is no guarantee a deal will be reached.

SAN FRANCISCO (Reuters) – Yahoo Inc could be weeks away from selling 15 to 25 percent of Alibaba Group’s stock back to China’s largest e-commerce company, in a deal designed to eliminate complexities that had scuttled the parties’ previous negotiations, a person familiar with the matter said.

The two companies have been in talks for a month, the person said, but cautioned that there is no guarantee a deal will be reached.

SAN FRANCISCO, May 4 (Reuters) – Yahoo Inc could be
weeks away from selling 15 to 25 percent of Alibaba Group’s
stock back to China’s largest e-commerce company, in a deal
designed to eliminate complexities that had scuttled the
parties’ previous negotiations, a person familiar with the
matter said.

The two companies have been in talks for a month, the person
said, but cautioned that there is no guarantee a deal will be
reached.