YAHOO TO SPIN OFF REMAINING ALIBABA STAKE -- 4TH UPDATE 

Yahoo Inc. unveiled a plan to spin off tax-free its nearly $40 billion of holdings in Alibaba Group Holding Ltd., a move that should give Chief Executive Marissa Mayer more time with shareholders despite continued declines in the Internet portal's core advertising business. (published 0432 GMT)

 
 
APPLE SELLS 46% MORE AND HIGHER PRICE IPHONES -- 4TH UPDATE 

Apple Inc. surpassed even the most bullish Wall Street expectations for its holiday quarter with an improbable trifecta: selling more iPhones at higher prices--and earning more on each sale. (published 0024 GMT)

 
 
CHINA'S SAIC CRITICIZES ALIBABA FOR CONTROLS ON MERCHANTS' GOODS 

A Chinese government agency on Wednesday criticized Alibaba Group Holding Ltd. for offering fake goods on its online marketplaces and for lax internal controls. (published 0552 GMT)

 
 
NINTENDO EXPECTED TO POST Y36B NET PROFIT IN OCT-DEC ON STRONG GAME SALES, WEAK YEN 

Japanese video game maker Nintendo Co. is scheduled to announce its fiscal third-quarter earnings after the market closes Wednesday. While the company is widely expected to post a small profit thanks to strong sales of new game titles during a typically strong selling season and the weak yen against the dollar and euro, it's unclear whether the company can continue its growth momentum in the coming quarters, given the lack of clear sales drivers. (published 0237 GMT)

 
 
SONY TO CUT ANOTHER 1,000 JOBS AT STRUGGLING SMARTPHONE UNIT 

Sony Corp. will cut another 1,000 jobs at its struggling smartphone business as part of its efforts to get the unit back into the black in the business year starting April 2016, people with knowledge of the move said Wednesday. (published 0244 GMT)

 
 
AUDI, VOLKSWAGEN AND PORSCHE RECALL MORE THAN 93,500 VEHICLES -- UPDATE 

Audi, Volkswagen and Porsche are recalling more than 93,500 cars and SUVs world-wide to fix fuel-leak problems. (published 0150 GMT)

 
 
AMGEN PROFIT RISES 27% ON HIGHER SALES OF KEY DRUGS -- UPDATE 

Amgen Inc. said fourth-quarter earnings rose about 27%, as sales growth was driven by such key drugs as cancer therapy Kyprolis and osteoporosis treatment Prolia. The company also said it is preparing for the approval of new drugs, including a treatment for high cholesterol. (published 0010 GMT)

 
 
AMERICAN EXPRESS TO START DOING BUSINESS IN CUBA 

American Express Co. says it plans to start doing business in Cuba after the Obama administration lifted a ban on U.S. banks and credit card companies operating on the island. (published 0052 GMT)

 
 
GUANGDONG YUEYUN TRANSPORTATION: TO BUY 51% OF SHANWEI CITY SHANYUN VEHICLES TRANSPORTATION 

Guangdong Yueyun Transportation Co. Ltd. said Wednesday that it will buy a 51% stake in Shanwei City Shanyun Vehicles Transportation Co. Ltd. from Shanwei City SASAC for 66.8 million yuan . (published 0431 GMT)

 
 
MAPLETREE GREATER 4Q AVAILABLE DISTRIBUTABLE INCOME UP 11% ON YEAR 

Mapletree Greater China Commercial Trust reported a 11% increase in available distributable income in the fourth quarter ended December on the back of resilient rental income. (published 0310 GMT)

 
 
YINSON HOLDINGS GETS $2.54 BLN OFFSHORE-PRODUCTION VESSEL CONTRACT 

Yinson Holdings Bhd said Wednesday it has secured a charter contract worth $2.54 billion for a floating production storage and off-loading vessel from Italy's ENI S.p.A. . (published 0241 GMT)

 
 
CHINA SANJIANG FINE CHEMICALS EXPECTS OVER-70% FALL IN 2014 NET PROFIT 

China Sanjiang Fine Chemicals Co., a manufacturer and supplier of industrial chemicals in China, said Tuesday it expects 2014 net profit to decline over 70% from a year earlier, as selling prices of its dominant product fell. (published 0202 GMT)

 
 
NORTH ASIA RESOURCES: EXPECT 'SIGNIFICANT LOSS' FOR 2014 

North Asia Resources Holdings Ltd., a Hong Kong-listed mineral exploration and development company, said late Tuesday it expects a "significant loss" for 2014, weighed by impairment charges and higher finance costs. (published 0140 GMT)

 
 
TABCORP SCORES NEW SOUTH WALES THOROUGHBRED MEDIA RIGHTS 

Australian betting company Tabcorp Holdings Ltd. Wednesday said it has secured the media rights for all thoroughbred horse-racing in New South Wales state and continues to negotiate broadcast arrangements for neighboring Victoria. (published 0257 GMT)