BUSINESS

Activist hedge fund Starboard Value has taken a 4.5 percent stake in AOL Inc and requested a meeting with the Internet company's Chief Executive and board.

Stocks fell on Wednesday as hope faded that banks would use the European Central Bank's massive funding operation to buy regional sovereign debt and help mend the deep-rooted debt crisis.

Stock index futures pointed to a lower open on Wednesday as enthusiasm waned after strong bank demand for the European Central Bank's record funding operation and fears over the debt crisis resurfaced.

Banks took a huge 489 billion euros at the European Central Bank's first ever offering of three-year funding on Wednesday, raising hope a credit crunch can be avoided and that the money may be used to buy Italian and Spanish bonds.

Research In Motion Ltd has turned down takeover overtures from Amazon.com Inc and other potential buyers because the BlackBerry maker prefers to fix its problems on its own, according to people with knowledge of the situation.

Stock index futures rose Wednesday, putting the benchmark S&P 500 index on track to extend the prior session's big gains as banks borrowed more than anticipated at the European Central Bank's record cash injection aimed at easing the debt crisis.

Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.38 percent, Dow Jones futures up 0.62 percent and Nasdaq 100 futures up 0.61 percent at 4:10 a.m. EST.

Europe's banks borrowed nearly 490 billion euros from the European Central Bank at its first-ever offer of three-year loans on Wednesday, encouraging demand for the euro and stocks on hopes the funding will ease the two-year old debt crisis.

European stocks and the euro firmed on Wednesday, enjoying a brief surge after banks borrowed around $489 billion euros from the European Central Bank at its first-ever offer of three-year loans on hopes it will be a significant step toward easing the region's two-year old debt crisis.

Japan's central bank offered a bleaker view of the economy and the government warned of worsening business sentiment as exports slumped, adding to evidence of the pain Europe's debt crisis is inflicting on global growth and Japan's recovery prospects.

European stocks rallied and the euro was well bid Wednesday as investors priced in an improvement in the economic outlook and looked forward to a big take up by banks of the European Central Bank's first-ever offer of three-year loans.

The regulator for Fannie Mae and Freddie Mac is actively considering a proposal that would allow for a reduction in the outstanding mortgage debt of homeowners in Chapter 13 bankruptcy, Financial Times reported on Tuesday.

Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt tempered risk-aversion, with investors' focus turning to a European Central Bank tender as a gauge for euro zone funding strains.

The Bank of Japan kept monetary settings unchanged on Wednesday but offered a bleaker view on the economy than last month on mounting evidence of the pain Europe's debt crisis is inflicting on global growth and Japan's recovery prospects.

Chinese low-end smartphone maker Xiaomi has received $90 million in B-round venture capital funding from investors such as IDG Capital, Temasek Holdings and Qualcomm Inc, the 21st Century Business Herald reported on Wednesday.

The Bank of Japan kept monetary settings unchanged on Wednesday but cut its assessment of the economy on mounting evidence of the pain Europe's debt crisis is inflicting on global growth and Japan's recovery prospects.

Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt tempered risk-aversion, with investors' focus turning to a European Central Bank tender as a gauge for euro zone funding strains.

The United States has removed Baidu Inc, China's largest search engine, from its list of notorious markets for piracy in a nod to the firm's efforts to clean up its music offerings.

In a copyright case with broad implications for digital media, record company UMG Recordings Inc lost a bid to revive its lawsuit against a video-sharing website.

Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt, with investors' focus turning to a European Central Bank's tender as a gauge for euro zone funding strains.

Contract manufacturer Jabil Circuit Inc posted quarterly revenue below analysts' estimates as its large customers battled inventory pile-ups, and sees lower revenue in the second quarter from its high-velocity segment which services digital products.

Van Eck Global, a fund manager with wide experience in emerging markets, is preparing to debut in another risky sector it bets will offer competitive returns in 2012 -- Europe's high-yield corporate debt market.

China's Premier Wen Jiabao has told the nation's banks to clean up lending policies that have left some businesses struggling with excessive borrowing costs as slowing export growth and other pressures eat into profits, state newspapers said on Wednesday.

In the year since buying the most valuable contemporary film library on the market, the new owners of Miramax have closed $325 million in new licensing agreements while resisting the urge to start making movies, according to Miramax executives.

Classic episodes of Fawlty Towers and Miss Marple are just a few of the titles that will be available to Netflix customers in the United Kingdom and Ireland thanks to a new licensing pact with BBC Worldwide.

Immigrants founded or cofounded almost half of 50 top venture-backed companies in the United States, a new study shows, underscoring some of the high stakes in potential immigration reform.

Oracle Corp fell well short of Wall Street's expectations on both hardware and software sales in its fiscal second quarter, wiping more than 8 percent off its shares.

Oracle Corp's profit missed Wall Street's forecasts for the first time in a decade after new software sales sputtered, hammering its shares and stoking fears that a global economic slowdown is hurting tech spending.

The Justice Department is probing Verizon Wireless' multi-billion dollar deal to buy wireless airwaves from cable operators and let them resell its mobile service, the department said on Tuesday.