Stocks drop on weak earnings, U.S. durables; dollar slips

World stock indexes fell on Tuesday following disappointing company earnings, while the dollar retreated after an unexpected decline in U.S. durable goods orders.

Chinese actress buys into Alibaba Pictures as it warns of losses

Chinese actress Zhao Wei has taken a major stake in Alibaba Group Holdings Ltd's film division, bringing some star power to a company that warned on Monday it could rack up losses of as much as HK$600 million ($77.41 million) for 2014.

Africa

Madagascar needs reforms to hit 5 percent growth - IMF

Madagascar will not achieve the 5 percent growth the International Monetary Fund has projected for it this year unless it introduces reforms to boost tax revenue and improve the business climate, an IMF official told Reuters.

Abiomed raises revenue outlook, wins U.S. approval for heart pump

Medical device maker Abiomed Inc (ABMD.O) raised its full-year revenue forecast and said the U.S. Food and Drug Administration had approved its heart pump, sending its stock nearly 32 percent in extended trading.

Apple iPhone sales top expectations

Apple Inc (AAPL.O) quarterly results smashed Wall Street expectations with record sales of iPhone 6 and 6 Plus smartphones in the holiday shopping season and strong sales in China, although the United States remained the top iPhone market.

Yahoo sets Alibaba stake spinoff plan, shares jump

Yahoo Inc (YHOO.O) plans to spin off its 15 percent stake in China's Alibaba Group Holding Ltd (BABA.N), responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.

S&P downgrades Russia's sovereign credit rating to 'junk'

Ratings agency S&P cut Russia's sovereign credit rating to junk status on Monday, bringing it below investment grade for the first time in a decade.

Petrobras may book $20 billion asset write-down: Veja magazine blog

Brazilian state-controlled oil company Petróleo Brasileiro SA could take a charge of about 52 billion reais ($20 billion) in its delayed third-quarter results to reduce the value of some assets, a Veja magazine blog said on Monday.

AT&T to buy NII Holdings' wireless business in Mexico

AT&T Inc (T.N) said on Monday it would buy bankrupt NII Holdings Inc's (NIHDQ.PK) wireless business in Mexico for $1.875 billion in a move to create a larger Mexican wireless player that will have a better chance of competing with No. 1 America Movil (AMXL.MX).

'Frozen' heats up Japan box office in 2014

Japanese cinemas rang up a healthy rise in ticket sales in 2014 as blockbuster animation film "Frozen" eclipsed an otherwise lackluster show by Hollywood, industry data showed on Tuesday.

China's Li says to create 10 million jobs in 2015: China Daily

China's Premier Li Keqiang pledged to create at least 10 million new jobs in 2015, the state run China Daily newspaper said on Tuesday, despite economic growth that slowed to its weakest pace in nearly a quarter of a century last year.

Carnival eyes new China line for burgeoning cruise market

Cruise operator Carnival Corp is in talks with state-owned China Merchants Group Ltd (CMG) to develop a new cruise line for the fast-growing China market, the U.S. firm said in a statement on Tuesday.

Oil tankers in the front line of Libya's two-government struggle

Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages, caught in a struggle between the rival governments there and threatened by air attacks.

Euro zone ready to work with Syriza, says Greece's problems remain

Euro zone finance ministers said they were ready to work with the new anti-bailout government Greek government, but warned the country that its deep economic problems had not changed because of an election, the chairman of the ministers said on Monday.

Schaeuble says Tsipras can find a 'different way' if he wants

German Finance Minister Wolfgang Schaeuble said on Monday Greece's leader Alexis Tsipras would have to "find a different way" to solve Greece's problems if he says he does not want money from the euro zone bailout program.

German watchdog sees no signs of gold, forex manipulation

Investigators at German financial watchdog Bafin have not discovered any signs of systemic efforts to manipulate currency benchmarks, rather, only individual efforts, banking supervisory head Raimund Roeseler said in a newspaper interview on Tuesday.

UK 2014 growth fastest in seven years despite fourth quarter slowdown

Britain's economy recorded its fastest annual growth since 2007 last year despite a bigger-than-expected slowdown in the final three months of 2014, giving a mixed message just 100 days before Britons go to the polls.

Oil gives up early gains on firm dollar, shrugs off OPEC comments

Oil gave up early gains with Brent futures slipping below $48 on Tuesday as a stronger dollar weighed, offsetting comments from producer group OPEC that prices may have found a floor.

Asia shares inch ahead, euro steady as Fed meets

Most Asian share markets firmed on Tuesday and the euro clung to rare gains, relieved that European equities had weathered Greece's election outcome without too much disruption.

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