Internet search is a lucrative business — just ask Google. The company accounts for two-thirds of desktop searches in the US. But change is afoot this year. Microsoft and Yahoo, numbers two and three in US search, could revisit their search agreement with each other. Yahoo’s market share in this field has risen (now 13 per cent, ComScore says) after it became the default for Mozilla Firefox. Meanwhile Google’s exclusive search deal with Apple’s Safari browser is up for grabs; UBS estimates that the Safari deal could drive nearly $8bn in sales for Google this year. So 2015 could become the year of the search wars.

This all matters more for Yahoo than for most of its rivals. Search will be a crucial part of the company after its stake in Alibaba is spun out. Its search agreement with Microsoft accounted for 35 per cent of revenues last year.

But that agreement with Microsoft has had its drawbacks. Under the 2009 deal, which covers desktop usage, Yahoo-branded searches essentially distribute Bing results. Microsoft controls the search algorithm and handles ad sales, taking a 12 per cent fee. Disappointing sales have led Yahoo to consider ending the deal. Chief executive Marissa Mayer said in the January earnings call that discussions were under way. The agreement allows Yahoo to wriggle out after five years if certain targets are not met. The window for renegotiation expires this week. Otherwise the agreement will stay in force for another five years.