In a truce announced Monday to avert a possible complete takeover of Yahoo Inc.'s board of directors, the Internet company said it would relinquish three seats on the board to activist investor Carl Icahn. He had been spearheading a stockholder rebellion in protest of Yahoo's rejection of Microsoft's $47.5 billion takeover bid.
A federal appeals court in Philadelphia overturned a $550,000 fine meted out by the Federal Communications Commission to the CBS Corp. for airing a fleeting image of nudity – Janet Jackson's so-called "wardrobe malfunction" – during the 2004 Super Bowl halftime show. The court said the FCC acted "arbitrarily and capriciously."
Forecasters stopped issuing tropical storm warnings along the Carolina coasts late Sunday after Tropical Storm Cristobal headed into the open Atlantic.