CHINA

Baidu Inc more than doubled its profit in the first quarter and forecast stronger-than-expected revenue for the second quarter, betting on strong online advertising demand among China's businesses.

Telecoms gear maker Ericsson blasted past first-quarter core profit expectations thanks to surging mobile broadband sales but said it would take until the third quarter to resolve Japan quake supply problems.

The Australian share market closed lower amid concerns about a tough upcoming federal budget, strong local dollar and possible interest rate rises sparked by higher inflation figures.

China unveiled plans for its own space station, to be completed by 2020, along with a cargo ship to ferry supplies to and from orbit.

Brent oil pared gains to around $124 a barrel on Wednesday and U.S. crude fell as a big rise in U.S. inventories countered support from a weaker dollar before a Federal Reserve statement expected to keep a loose monetary policy.

Businessman and television show host Donald Trump made a statement to reporters at a press conference in New Hampshire ahead of remarks by President Barack Obama on the issue of the President's release of the long-form birth certificate.

Federal Reserve Chairman Ben Bernanke on Wednesday will likely use his first-ever news conference on monetary policy to hammer home the case for a patient approach to withdrawing the central bank's extensive support for the U.S. economy.

Brent crude oil edged above $124 a barrel Wednesday as support from a weaker dollar, ahead of a Federal Reserve statement expected to maintain loose monetary policy, countered rising U.S. inventories.

The President of Venezuela Hugo Chavez said he is meeting with a delegation of Libyan officials in Caracas to seek ways to resolve the crisis in the North African country.

Telecoms gear maker Ericsson blasted past first-quarter core profit expectations thanks to surging mobile broadband sales and hopes to resolve Japan quake supply problems later this year.

The U.S. dollar plumbed a near 3-year low against other major currencies on Wednesday before a Federal Reserve decision, which is expected to reinforce an ultra-easy policy stance and drive more capital to buoyant emerging Asian stock markets.

China's economy may grow by 9.6 percent in the second quarter of 2011, a government think tank said in a report on Wednesday, keeping pace with first quarter growth.

Sina Corp, China's largest Internet portal, has no immediate plans to list its microblog operations, its chief said on Wednesday.

China's rise as a manufacturing power has benefited American factory owners in at least one way.

America's global dominance of the private equity industry will likely remain for only a handful more years, as other geographies grow stronger and rival firms around the world flex their muscles, Carlyle Group co-founder David Rubenstein predicted on Tuesday.

China's economy may grow by 9.6 percent in the second quarter of 2011, a government think tank said in a report on Wednesday, keeping pace with first quarter growth.

America's global dominance of the private equity industry will likely remain for only a handful more years, as other geographies grow stronger and rival firms around the world flex their muscles, Carlyle Group co-founder David Rubenstein predicted on Tuesday.

First quarter results from Ericsson look set to benefit from a recovery in the global network gear market that could help soften any impact on its supply chain from the earthquake in Japan.

Inflation is coming to America because the Federal Reserve keeps printing money and has left interest rates at 0.25 percent since December 2008.

Persistently high unemployment and a weak economic recovery could persuade U.S. policymakers to slap protectionist duties on imports from China and around the world, an economist said on Tuesday.

The Federal Reserve kicked off a two-day meeting on Tuesday that will probably show that it is in no hurry to scale back its massive support for the economic recovery.