MARKETS / FINANCE

Chinese online games firm The9 Ltd said on Tuesday it has entered into an agreement with three institutional funds to form a $100 million fund to invest in mobile Internet applications.

Google is in talks with smaller players in the online discount coupon market after Groupon turned down the web giant's $6 billion buyout offer, the New York Post said, citing a source close to the situation.

European Union competition regulators temporarily cleared billions of euros in state aid for Anglo Irish Bank , Allied Irish Bank and Irish Nationwide Building Society on Tuesday.

Adobe Systems Inc issued an earnings forecast sharply above Wall Street projections, contrasting sharply from a pessimistic outlook three months ago when it was concerned about the weak economy.

Adobe Systems Inc issued an earnings forecast sharply above Wall Street projections, contrasting sharply from a pessimistic outlook three months ago when it was concerned about the weak economy.

Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.36 percent, Dow Jones futures up 0.32 percent and Nasdaq 100 futures up 0.27 percent at 0928 GMT (4:28 a.m. EDT).

The euro pared gains on Tuesday after Moody's put Portugal on review for a possible downgrade, while world stocks rose, driven by bargain-hunting investors betting on stronger global growth next year.

The U.S. Securities and Exchange Commission has begun a probe into Chinese companies listing on U.S. stock exchanges through reverse takeovers, the Wall Street Journal reported, citing people with knowledge of the probe.

Toronto-Dominion Bank is close to an agreement to buy Chrysler Financial from private equity firm Cerberus Capital Management for $6.3 billion, a source familiar with the matter said on Monday.

The Bank of Japan kept monetary policy on hold on Tuesday but warned of weakening factory output and business sentiment, assuring markets that it was focusing on downside risks to growth that may trigger further easing ahead.

China urged European authorities to back their tough talk with action on Tuesday by showing they can contain the euro zone's simmering debt problems and pull the bloc out of its crisis soon.

The euro bounced back on Tuesday from a day-earlier selloff over euro debt woes following words of support from China, while stocks were firm across Asia as investors picked up end-of-year bargains.

The Bank of Japan kept monetary policy steady as widely expected on Tuesday, holding off on easing as it scrutinizes how escalating debt woes in Europe and a U.S.-driven rise in bond yields affect Japan's fragile economy.

Japan's Nikkei share index <.N225> rises 0.7 percent as investors pick up bargains after recent price falls, but volume is low on absence of foreign buyers.

An Obama administration task force examining allegations of fraud in the mortgage foreclosure process will deliver its findings next month, two top officials said on Monday.

A judge said on Monday she needs more time to rule on Washington Mutual's $10 billion deal aimed at bringing the company out of bankruptcy, and asked the parties to extend a key deadline, according to court documents.

Web commerce company eBay Inc said it would buy brands4friends, Germany's largest online shopping club, for about $200 million in cash to strengthen its European business.

The Federal Reserve does not believe any one hedge fund can topple the financial system and therefore the private pools of capital may escape direct supervision by the central bank, an industry source familiar with the Fed's position said.

Dell Inc founder and chief executive Michael Dell is spending $100 million to snap up more of his company's stock.

U.S. stocks tacked on further gains to push the S&P 500 to a two-year high on Monday, continuing a steady upward march investors believe will continue in 2011.

The world's largest exchange traded gold fund - the New York, Tokyo, Hong Kong and Singapore-listed SPDR Gold Trust - added 15 tonnes to its holdings on Friday, the largest one-day addition since the height of the Greek deficit crisis in May.

Their names invoke bubbling brooks and tropical islands, but now a host of obscure hedge funds may be bringing Wellington Management Co some unwanted attention.

Bankrupt video rental chain Blockbuster Inc plans to close 182 stores by the end of the first quarter of next year as it tries to find a way back on its feet.

Stocks rose on Monday, lifted by energy and financial shares as investors repositioned in anticipation of the new year.

As U.S. regulators race to write rules that will put Wall Street reform legislation into action, some industry groups are trying to apply the brakes, latching onto linguistic loopholes in the law to bolster their case.

Vimpelcom's $6.6 billion bid for telecoms assets owned by Weather Investments was hanging by a thread after Norwegian shareholder Telenor said on Monday it would not back the deal.

Groupon has brought in a former Amazon.com Inc executive as its new chief financial officer, the discount coupon provider said.

Global banking regulators proposed on Monday that banks should only have to set aside small amounts of capital when dealing with supervised central counterparties, in a consultative paper aimed at further stabilizing the financial system.

U.S. bank JPMorgan has bought two major office properties in London, including the former Lehman Brothers building, holding off on plans to build a skyscraper as its main European headquarters.