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Facebook profit falls 9 percent as costs soar

- Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9 percent as the social media company sharply increased spending to boost mobile revenue and future growth. | Video

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Telecom Italia inks content deal with Netflix

MILAN - Telecom Italia will offer TV series and movies from Netflix to its clients after a deal the Italian phone group said would help spur demand for faster Internet in the euro zone's No. 3 economy.

3:46pm EDT

Alibaba cloud unit sets sights on Amazon in $1 billion global push

BEIJING - China's Alibaba Group Holding Ltd said on Wednesday it would invest $1 billion into its Aliyun cloud computing arm to challenge Amazon.com Inc's lucrative Web Services division, opening a global front in the battle between the two e-commerce giants.

China 5:38am EDT

Bounce in AMD's stock may put pressure on short sellers

SAN FRANCISCO - A two-day rally in the lowly shares of Advanced Micro Devices Inc may be squeezing short sellers, who recently increased their bets against the chipmaker.

Money 4:27pm EDT

Volkswagen to offer crash avoidance systems on most U.S. models

BELMONT, Calif. - Volkswagen AG , the world's No. 1 automaker, will offer automatic braking and other crash avoidance systems as standard or optional features on most 2016 models sold in the United States beginning later this year, the company said on Wednesday.

U.S., 3:14pm EDT

United Airlines data breached by China-backed hackers: Bloomberg

REUTERS - United Continental Holdings Inc has been the target of a data breach linked to a group of China-backed hackers, Bloomberg reported.

Cybersecurity 1:31pm EDT