Yahoo has reported revenues of $1.3bn for the last quarter compared to a loss of $22m the same period 12 months earlier, with the company also reporting a near $500m downgrade in the valuation of its Tumblr purchase, three years into its takeover of the picture-sharing service.

UK technology firm ARM Holdings is to be bought by Japan's Softbank for GBP24bn ($32bn) it confirmed on Monday. The board of ARM is expected to recommend shareholders accept the offer -- which is around a 43% premium on its closing market value of GBP16.8bn on Friday. The Cambridge-based firm designs microchips used in most smartphones, including Apple's and Samsung's.

The National Farmers' Union (NFU) will challenge supermarkets over their use of "fake" farm brands. Supermarkets such as Tesco sell meat and fresh produce under made-up British farm brand names, such as "Woodside Farms." The NFU says that British-sounding farm names mislead consumers into thinking they are buying British produce, when it may be from abroad.

Chinese Internet business Baidu is reportedly paying $437 million for a 70% stake in A.C. Milan. The news was first reported by China's official CCTV on Friday, but has since also been picked up in Western media. The news channel reported: "Chinese investors' overseas sport investments show an upward trend."

Ed Vaizey has stepped down as the government's minister for culture after six years in the role. The Conservative MP, who served as minister for culture, communications and creative industries since 2010, will be replaced by Matthew Hancock, the former business minister. Hancock, who has been an MP since 2010, entered the government in 2013 as a skills and enterprise minister.

Uber has cancelled the western Europe leg of its annual Ice Cream delivery day just one hour before it was due to begin in the wake of last night’s terror attack in Nice. Fans getting ready to request an ice cream via the app in more than 400 cities this morning were greeted with a message that read: "Now is the time to pause and reflect so we are cancelling Uber Ice Cream for today."

Critics of the Open's move away from live BBC television coverage have been given impetus after the peak audience for the first day of the championship dropped by almost 80%. Sky Sports has assumed primary UK broadcasting rights for the first time at this, the 145th, Open, with the BBC reduced to highlights status. The R&A was castigated for the television switch.

RB, the health and hygiene company, has reshuffled its agency relationships -- handing McCann Worldgroup the global accounts for its cleaning brands Dettol and Lysol, formerly the responsibility of Havas. McCann previously held the account for Dettol in India with Havas handling Dettol and Lysol across other markets.

Chat bots have ballooned in popularity in recent months, and now we're seeing some interesting examples of how that technology is being used to solve other problems. Today, Zendesk is taking the wraps off "Automatic Answers", a service for businesses to reply to emails from customers without ever having a human employee get involved.

Google faces new competition charges from the European Commission over claims it is abusing monopoly power. The Commission issued new complaints against Google regarding its dominance in online advertising and shopping search results in the latest escalation of the fight between the search giant and Brussels, which has seen Google charged in three cases in little more than a year.