BUSINESS

Tencent Holdings Ltd, China's biggest internet company by revenue, plans to step up its expansion in social networking, search and e-commerce to attract more online advertisers as it looks to diversify from its competitive core gaming market.

The current account deficit widened much more than expected to $124.1 billion in the fourth quarter of 2011, as imports rose and exports dropped, a government report showed on Wednesday.

Demand for home purchases picked up for the third week in a row last week, though applications for refinancing sagged, an industry group said on Wednesday.

Stock index futures were little changed on Wednesday as investors weighed comments from the Federal Reserve on the economy and banking sector against the recent five-day rally.

Stock index futures edged higher on Wednesday, putting the benchmark index on track for its sixth straight advance after comments from the Federal Reserve on the economy and banking sector helped boost optimism.

Bank of America Merrill Lynch said on Wednesday it had hired UBS corporate broker Peter Luck, helping to bolster a team depleted by a string of senior departures.

Euro zone countries formally approved on Wednesday a second, 130 billion euro financing package for Greece that will keep Athens funded until 2014, the chairman of euro zone finance ministers Jean-Claude Juncker said in a statement.

Most of the largest banks passed their annual stress test, according to the Federal Reserve, in a conservative report card that underscored the recovery of the financial sector but called out a few laggards, including Citigroup.

BMW , the world's largest premium carmaker, warned that more and more profit-eroding incentives are being offered to sell luxury cars at the moment, adding there are no signs this will change anytime soon.

China must embrace slower growth and bolder political reform to keep its economy from faltering and to spread wealth more evenly, Premier Wen Jiabao said on Wednesday, vowing to use his last year in power to attack mounting discontent that he warned could end in chaos.

Sharp Corp named the head of its global operations as president to turn around a company facing a record annual loss, the latest Japanese firm to shake up management after tumbling into the red on slumping TV sales.

Stock futures signaled a mixed opening for Wall Street on Wednesday, with futures for the S&P 500 up 0.1 percent, the Dow Jones futures down 0.2 percent and the Nasdaq 100 futures falling 0.1 percent.

Over the past two years, India's central bank was raising rates in a futile effort to contain stubborn inflation, as the government fumbled on fixing decrepit infrastructure and other supply bottlenecks in the economy.

Over the past two years, India's central bank was raising rates in a futile effort to contain stubborn inflation, as the government fumbled on fixing decrepit infrastructure and other supply bottlenecks in the economy.

German fashion house Hugo Boss said sales growth would slow in 2012, after a record year driven by demand from Asian consumers seeking European luxury names.

Shares of Sharp Corp reversed losses and jumped over 4 percent on Wednesday after a report that its president Mikio Katayama would resign as the company struggles to shore up its finances.

Five major U.S. banks have agreed to pay $25 million to New York State over their use of an electronic mortgage database that the state said resulted in deceptive and illegal practices that led to more than 13,000 foreclosures.

Nearly two-thirds of Americans support imposing a minimum tax rate of 30 percent on those who earn $1 million or more a year, according to Reuters/Ipsos poll results released on Tuesday.

China will intensify reforms of its currency regime and allow the yuan to float more freely, Premier Wen Jiabao said on Wednesday at the end of an annual parliament session punctuated by signs of a slowing economy.

China will intensify reforms of its currency regime and allow the yuan to float more freely, Premier Wen Jiabao said on Wednesday at the end of an annual parliament session punctuated by signs of a slowing economy.

The estimated net costs of expanding healthcare coverage under President Barack Obama's landmark restructuring have been reduced by $48 billion through 2021, though fewer people would be covered under private insurance plans, a new analysis from the nonpartisan Congressional Budget Office showed on Tuesday.

China will intensify reforms of its currency regime and allow the yuan to float more freely, Premier Wen Jiabao said on Wednesday at the end of an annual parliament session punctuated by signs of a slowing economy.

Japan's top government spokesman said on Wednesday the government will continue to work with the Bank of Japan to beat deflation and revive the economy.

Beatriz Merino, arguably the most respected public figure in Peru, is taking on a new role as the advocate for holders of the country's infamous land bonds who want the government to finally pay billions of dollars in old debts.

Securities regulators charged two Ameriprise Financial advisers and three others with insider-trading, saying they made $1.8 million in illicit profits based on confidential merger information one of the advisers learned through an Alcoholics Anonymous relationship.

A U.S. judge scheduled a trial between Oracle Corp and Google Inc for April 16, 2012, over claims Google violated Oracle's intellectual property rights relating to the Java programming language, according to a ruling on Tuesday.

A U.S. judge scheduled a trial between Oracle Corp and Google Inc for April 16, 2012, over claims Google violated Oracle's intellectual property rights relating to the Java programming language, according to a ruling on Tuesday.

Facebook's efforts to make its social network a friendlier place for businesses and popular brands are off to a strong start, the company said.

Most of the largest banks passed their annual stress test, the Federal Reserve revealed in an earlier-than-expected release of the results, after JPMorgan Chase pulled the trigger on announcing its glowing marks and helped lift the stock market.