MARKETS / FINANCE

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.

NEW YORK, April 27 - Cash-strapped New York state would receive about $144 million from Lehman Brothers Holdings Inc under a proposed settlement resolving tax claims against the defunct financial giant.

Former Berkshire Hathaway executive David Sokol deliberately misled Warren Buffett when pitching an investment to him, the company's board concluded in a scathing report that may add fuel to a pending SEC probe of Buffett's one-time heir apparent.

Wall Street graded Federal Reserve Chairman Ben Bernanke's first post-meeting news conference an A-, praising him for poise and transparency but noting that financial journalists didn't make him sweat.

EBay Inc reported a higher than expected quarterly profit as more people bought items on its auction site and its PayPal payment system was used by more merchants.

Federal Reserve Chairman Ben Bernanke signaled on Wednesday that the U.S. central bank is in no rush to scale back its support for the economy with the labor market still in a very, very deep hole.

Federal Reserve Chairman Ben Bernanke on Wednesday said the U.S. central bank could best ensure a strong dollar was by creating the conditions for strong economic fundamentals.

A former portfolio manager at Steven Cohen's SAC Capital Advisers LP will plead guilty on Thursday to charges arising from a federal probe of insider trading, a prosecutor said at a court hearing.

The following are highlights from Federal Reserve Chairman Ben Bernanke's press conference on Wednesday after the central bank's monetary policy committee meeting. This is the first regularly scheduled press conference by a Fed chief.

Federal Reserve Chairman Ben Bernanke said on Wednesday a strong, stable dollar is in U.S. and global economic interests but could not say how long the Fed would maintain the loose monetary policy that has been blamed for its current weakness.

A former expert consultant to hedge funds pleaded not guilty to criminal conspiracy charges arising from a federal probe of insider trading.

The Nasdaq jumped to a 10-year high as U.S. stocks rallied on Wednesday after Fed Chairman Ben Bernanke's first-ever press conference did nothing to short-circuit investors' optimistic outlook on the economy.

French President Nicolas Sarkozy said Wednesday he would invite Internet business leaders to an end-May G8 summit to discuss regulation of the Web and he called for more scope for governments to tax Internet firms.

Visa Inc has thrown its weight behind a mobile payments venture created by Twitter co-founder Jack Dorsey.

Federal Reserve Chairman Ben Bernanke signaled on Wednesday that the U.S. central bank is in no rush to scale back its support for the economy with the labor market still in a very, very deep hole.

Federal Reserve Chairman Ben Bernanke said on Wednesday a strong, stable dollar is in U.S. and global economic interests but could not say how long the Fed would maintain the loose monetary policy that has been blamed for its current weakness.

AT&T's rivals have asked U.S. regulators to combine a review of AT&T's proposed purchase of T-Mobile USA with their examination of its plan to buy wireless airwaves from Qualcomm Inc .

Berkshire Hathaway on Wednesday said David Sokol misled the company in the way he disclosed his financial interest in Lubrizol Corp before pushing Berkshire CEO Warren Buffett to buy it.

A former expert consultant to hedge funds will plead not guilty to criminal charges arising from a federal probe of insider trading, his lawyer said.

The Federal Reserve signaled on Wednesday it is in no rush to scale back its extensive support for the U.S. economy and said a run-up in commodity prices that has dented growth should be fleeting.

The Federal Reserve signaled on Wednesday it is in no rush to scale back its support for the U.S. recovery as it cut its forecast for 2011 economic growth.

A U.S. judge has largely sided with Oracle Corp over how several technical terms will be defined in its patent fight over Google Inc's Android software, according to a tentative ruling.

A key gauge of U.S. manufacturing rose in March and new orders in February were stronger than initially thought, indicating a vibrant factory sector even as the economy slowed in the first quarter.

U.S. stocks extended gains on Wednesday, with the S&P and the Nasdaq near session highs after the Federal Reserve signaled it was willing to maintain its extensive support for the U.S. economy and corporate earnings continued to impress.

Stocks were higher on Wednesday after the Federal Reserve signaled that it was in no rush to scale back its extensive support for the U.S. economy.

Rogers Communications said on Wednesday it will launch its advanced LTE network for speeding up mobile communications this year, beating rival Telus Corp to the punch.

Wall Street stocks were little changed on Wednesday as investors took a wait-and-see stance before the Federal Reserve announces its interest rate decision and discusses policies affecting the economy.

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.

Forecast-beating results from big U.S. corporations and expectations of more of the same easy money policies from the Federal Reserve lifted Wall Street on Wednesday, with stocks set to run higher after the S&P 500 moved above a technical resistance level.