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Business Highlights

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Yahoo redesign aims to make site more inviting

SAN FRANCISCO (AP) â¿¿ Yahoo is renovating the main entry into its website in an effort to get people to visit more frequently and stay longer.

The long-awaited makeover of Yahoo.com's home page is the most notable change to the website since the Internet company hired Marissa Mayer as its CEO seven months ago. The new look debuted Wednesday in the U.S., although it could take a few more days before everyone starts to see it.

It's the first time Yahoo has redesigned the page in four years. In that time, the company has seen its annual revenue drop by about 30 percent from $7.2 billion in 2008 to $5 billion last year as more online advertising flowed to rivals such as Internet search leader Google Inc. and social networking leader Facebook Inc.

Mayer, who spent 13 years helping to build Google into the Internet's most powerful company, has vowed to revive Yahoo Inc.'s revenue growth by establishing more of the company's services as daily habits that "delight and inspire" their users.

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Office Depot agrees to buy OfficeMax in stock deal worth about $1.2 billion

NEW YORK (AP) â¿¿ Office Depot and OfficeMax are being collated.

The retailers said Wednesday they have agreed to combine in an all-stock deal worth about $1.2 billion that would transform the office-supply retail sector by helping the No. 2 and No. 3 chains compete against industry behemoth Staples.

The merger marks the first move toward consolidation in an industry that is bloated with stores. It reflects the changing retail landscape as "big box" stores have become outmoded and more people shop online. Still, doubts remain whether the combination, which has been mulled over in the industry for years, is enough to offset growing competition and a changing retail landscape.

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