Industrial output turns itself around in month

WASHINGTON --- Industrial output posted a bigger-than-expected rebound in October after plunging in September by the largest amount in more than 60 years.

The Federal Reserve said Monday that industrial output rose 1.3 percent last month, reflecting a return to more normal operations after hurricanes and a strike at aircraft manufacturer Boeing Co. the previous month.

Those disruptions, along with the weak economy, caused industrial production to fall by 3.7 percent in September, the biggest one-month drop since February 1946.

Analysts said the outlook remained gloomy, given that they believe the country has tumbled into what could be a prolonged recession.

Yahoo founder steps down from top post

SAN FRANCISCO --- Yahoo will replace founder Jerry Yang as CEO as soon as a replacement is found. The move announced Monday will end Mr. Yang's rocky 17-month reign running the Internet company that he started 14 years ago.

Many Yahoo shareholders have been upset with him since he refused to sell the Sunnyvale-based company to Microsoft Corp. for $47.5 billion this year.

Although Mr. Yang had publicly expressed his desire to remain at the helm, Yahoo's board faced intensifying pressure to cast him aside as the company's shares plunged to their lowest levels since early 2003.

Once his replacement is hired, Mr. Yang will revert to his former role of "Chief Yahoo." He also will remain on the company's board.