Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

SHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. ...

Yahoo to sell half of its Alibaba stake for $7.1B

Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders.

Markets regain ground but still edgy over Greece

TOKYO (Reuters) - Markets recovered some ground on Monday on value hunting after last week's heavy losses, but investors remained wary over the euro zone despite world leaders calling for Greece to stay in the monetary union and for Europe to balance austerity with growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, buoyed by its technology sector which by far outperformed its peers with a 1.3 percent gain. Investors scooped cheapened blue chips, helping to lift tech-heavy Korean equity market above a key chart level. ...

Markets regain ground but still edgy over Greece

TOKYO (Reuters) - Markets recovered some ground on Monday on value hunting after last week's heavy losses, but investors remained wary over the euro zone despite world leaders pledging calling for Greece to stay in the monetary union and for Europe to balance austerity with growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, buoyed by its technology sector which by far outperformed its peers with a 1.3 percent gain. Investors scooped cheapened blue chips, helping to lift tech-heavy Korean equity market above a key chart level. ...

Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

SHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half of its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. ...

Yahoo to sell half of its Alibaba stake for $7.1B

Yahoo Inc. has agreed to sell half of its 40 percent stake in Chinese e-commerce group Alibaba for about $7.1 billion, and the struggling U.S. Internet company said it would return most of the cash to shareholders.

APNewsBreak: 22 states join campaign finance fight

Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending.

Ex-Goldman director faces U.S. jury in insider case

NEW YORK (Reuters) - Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles. On Monday in the same federal court in New York, it will be Gupta's turn to go on trial. The former Goldman Sachs Group Inc and Procter & Gamble board member is accused of leaking stock secrets to Rajaratnam, his erstwhile friend and business associate who was convicted and is now in prison. ...

Europe faces difficult search for growth

On paper at least, European leaders agree: They need stronger growth measures to help their economies expand out of their 2½-year-old government debt crisis. Figuring out exactly what those new steps might be will be the hard part.

Yahoo to sell half of its Alibaba stake for $7.1B

Struggling Internet company Yahoo Inc. has agreed to sell half of its 40 percent stake in Chinese e-commerce group Alibaba for about $7.1 billion.

Markets regain ground but still edgy over Greece

TOKYO (Reuters) - Markets recovered some ground on Monday after last week's heavy losses, but investors remained wary about the euro zone despite world leaders calling for Greece to stay in the monetary union and for Europe to balance austerity with growth. Leaders of G8 major industrialized nations meeting at the weekend vowed to take steps to combat financial turmoil and revitalize a global economy threatened by Europe's debt crisis, but they offered no specific prescription for debt-crippled Greece which holds fresh elections next month. ...