COMPANIES

Shares of Los Gatos, Calif.-based Netflix were down more than 4 percent Wednesday following a day earlier announcement that Comcast was jumping into the online streaming foray.

Megaupload founder Kim Dotcom was released on bail on Wednesday, Feb. 22 after he was arrested over a month ago on Jan. 20 during a police raid on his New Zealand mansion. Dotcom will be held under house arrest and will not be allowed to access the internet while he awaits the hearing over his extradition to the United States, which he intends to fight.

British utility Centrica, the parent company of British Gas, agreed on Wednesday to acquire France's Total E&P's North Sea oil and gas assets for $388 million.

Fitch Ratings downgraded J.C. Penney's debt rating to junk levels, expressing skepticism about the retailer's ability to reverse declining revenue trends with a highly-publicized makeover.

Shares of Dell, the No. 3 PC maker, fell more than 5 percent Wednesday after the company reported earnings below estimates and issued a dismal forecast.

Jeremy Lin, the rising New York Knicks star, will rent a condo at the W Downtown Hotel & Residences in Lower Manhattan in addition to his new apartment at Trump Tower in White Plains, N.Y.

Johnson & Johnson Chief Executive William Weldon will step down from his post in April after a series of recalls called into question the quality of the healthcare giant's products, from artificial hips to infant Tylenol.

Royal Dutch Shell Plc (RDSa.L) has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy (COVE.L), offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

The nation's biggest cable company, Comcast, is set to unveil its new on-demand video streaming service, Xfinity Streampix, this week, which will be a cheaper alternative to competitor Netflix at $5 per month.

Microblogging service provider Twitter Inc. has launched new versions of mobile apps for iPhone and Android devices.

Bailed-out insurance giant American International Group Inc. (NYSE:AIG), boosted by a one-time accounting gain, is expected to return to profitability when it reports its fourth-quarter earnings after markets close Thursday. Favorable stock market conditions and less reserve charges may also helped offset large losses stemmed from Thailand floods.

MegaUpload founder Kim Dotcom was released on bail Wednesday, after a New Zealand court had decided he lacked the means to flee the country.

Shares of Dell, the No. 3 PC maker, look likely to fall sharply Wednesday after the company reported earnings below estimates and issued a dismal forecast.

When is the next generation iPad finally getting released? Amid increasing rumors, latest reports suggest that Apple will launch the highly anticipated tablet in Germany March 23.

Apple's next generation tablet iPad 3, the successor to Apple's iPad 2, is expected to be launched on March 7. If rumors are to be believed, iPad 3 (or iPad 2S?) will pack such great features that will give the existing tablets like Amazon Kindle Fire and BlackBerry PlayBook run for their money.

Lenders to Kingfisher Airlines (KING.NS) have not agreed to extend further loans to the debt-crippled carrier, three banking sources said on Wednesday after reports that State Bank of India (SBI) was close to offering a bailout loan package.

Japanese mobile social networking service GREE has announced its collaboration with game developers Ubisoft to bring a new Assassin's Creed game to iOS and Android platforms.

Research In Motion Ltd has launched the much-awaited and the most-expected software upgrade of BlackBerry PlayBook Tuesday. The launch of PlayBook 2.0 OS will be able to silence its critics, believes the company.

South Korean technology giant LG Electronics, having done a style check on its Optimus series, has announced plans to roll-out three refreshing Android-based smartphones at the Mobile World Congress (MWC) 2012. L3, L5 and L7 will be the three uber-stylish handsets that will be launched under their new line, the ‘L-Style.’

Actor Saif Ali Khan has been accused of assaulting a fellow diner at a posh five-star hotel in Mumbai and might be arrested, police said on Wednesday.

Ford Motor Co. is pouring $3.8 billion into its global pension plan this year and will invest its plan assets more heavily in bonds, as the second-largest U.S. automaker moves more aggressively to minimize its pension risks in a shaky market.

Paramount Pictures, the movie studio that controls all the rights over the fictional mafia family's story The Godfather, has sued the estate of Mario Puzo, arguing that the heirs of the author has wrongfully authorized the publishing of a pair of sequel novels.

The Tulsa, Okla.-based company is expected to report fourth-quarter net profits of $268.61 million, or 41 cents a share, according to analysts polled by Thomson Reuters. The company earned $259 million, or 44 cents a share, in the year-earlier period.

Comcast Corp, the No. 1 U.S. cable operator, became the latest major name to take on Netflix Inc on Tuesday when it announced plans for an online video service offering a library of TV shows and movies.

The New York Knicks' new star point guard Jeremy Lin recently applied to trademark Linsanity several days after two California men each filed separate ones, attempting to cash in on the fervor surrounding Lin and his vernacularly adaptable name.

What a difference 2.8 million customers -- and one point guard -- can make. Madison Square Garden Co. said Tuesday that despite the first two losses of the Jeremy Lin era, the last two New York Knicks telecasts on the MSG network are its highest-rated regular-season events ever. The boost in ratings coincides with MSG resolving its carriage dispute with Time Warner Cable last Friday, in time for the Knicks' Friday night game against the Hornets to be broadcast.

Agricultural processor Archer Daniels Midland Co on Tuesday said it will eliminate 20 percent more jobs than previously expected to reduce costs.

A condo in the shimmering twin towers at 25 Columbus Circle in Manhattan has sold for $19.4 million, according to city records.

Dell, the No. 3, PC maker, reported fourth-quarter earnings two cents below estimates as revenue rose slightly above expectations.