Many heart patients routinely implanted with stents to open arteries gain no lasting benefit compared to those treated with drugs.

CCMP Capital Asia and a unit of the Ontario Teachers? Pension Plan agreed to buy the Yellow Pages unit of the Telecom Corporation of New Zealand for 2.24 billion New Zealand dollars ($1.6 billion). CCMP Asia, a buyout firm spun off from JPMorgan Chase, and Teachers? Private Capital will pay 2.17 billion New Zealand dollars in cash for the print and online directories, Telecom New Zealand said. Telecom New Zealand also expects to get 75 million New Zealand dollars from the unit?s debtors, and plans to use income from the sale to return capital to shareholders, it said.

The Bank of Thailand asks banks to return to December's currency positions but denies it plans to put a ceiling on the baht.

China and Russia urge Iran to meet UN demands over its nuclear programme as President Hu Jintao visits Moscow.

Union chiefs prepare to meet the AA owner, private equity group Permira, over demands for a rise in staff pay.

Reuters - Spanish market regulator CNMV said it had taken note of Enel and Acciona's joint takeover plan for Endesa and reiterated no bid could be made for six months.

AP - Asia's developing economies will slow over the next two years, the Asian Development Bank projected Tuesday, but the more moderate pace is seen stabilizing the region and putting it on better footing for solid growth in the future.

The receiver of bankrupt Russian oil firm Yukos is to start auctioning assets worth about £22bn.

The dispute with Iran over 15 captured UK navy personnel sends the price up, to hover around $63 a barrel.

The Asian Development Bank raises its forecast for Asian growth as consumer demand helps offset slower exports.

Regulator Ofcom orders mobile phone firms to cut the amount they charge other operators for connecting calls.

Reuters - Spanish market regulator CNMV reiterated that Endesa's top two shareholders could not make an offer for the utility for six months, stopping short of blocking the bid as rival E.ON had asked.

Reuters - Banking giant HSBC (0005.HK) said on Tuesday it had agreed to pay 228.75 million euros ($303.6 million) to buy Swiss Life's 50.01 percent stake of a French insurance joint venture.

AP - Wal-Mart Stores Inc. increased its U.S. charitable giving 10 percent last year to $272.9 million, the world's largest retailer said Tuesday, likely defending its position as the country's largest corporate donor of cash.

Brazil and Italy are planning a biofuel deal that will see them build plants in Brazil and Africa.

The chairman of the state-owned Pakistan International Airlines resigns, in the aftermath of a flight ban on the organisation by the European Union.

E.On gets a boost in its fight to buy Spain's Endesa as the long-running battle for the utility gets more acrimonious.

Air Berlin will buy charter rival LTU for 140m euros, a move that will push it up the European airline rankings.

Postman Pat is to appear on US television after his owner Entertainment Rights agrees a deal with US network Qubo.

Reuters - The chairman of French drugmaker Sanofi-Aventis favors a deal to acquire U.S. rival Bristol-Myers Squibb Co. , while his chief executive emphasizes the need to focus on internal research and development, the Times reported on Tuesday.

Reuters - Bob Diamond, head of investment banking at Barclays Plc , said on Tuesday the British bank was in a strong position in its talks on an $80 billion take over of Dutch rival ABN AMRO .

Russia's state-controlled oil firm Rosneft wins the first auction of assets from the bankrupt oil company Yukos.

New York's stock exchange wins control of Euronext, uniting stock markets in New York, Paris and Brussels.

Iran has significantly cut the amount of US dollars it holds in its foreign reserves, its central bank head says.

German business confidence picked up in March after the impact of an tax rise was less harsh than forecast, Ifo says.

Reuters - Lennar Corp., the No. 3 U.S. home builder, said on Tuesday quarterly profit tumbled a further-than-expected 70 percent, reflecting the downward spiral of the U.S. housing market.

Reuters - Energias de Portugal (EDP) has agreed to buy U.S. wind-park company Horizon Wind Energy from Goldman Sachs at an enterprise value of $2.9 billion to enter the U.S. market and boost its position in renewable energy.

Reuters - Delta Air Lines Inc. , which plans to emerge from bankruptcy in late April, said on Tuesday that it expected to swing to a profit this year on cost reductions and higher revenue.

EU finance ministers agree new rules aimed at making cross-border banking easier and cheaper.

A Russian court orders a retrial in a case against a head teacher accused of using pirated Microsoft software.

Reuters - Consumer confidence slipped further than expected in March as rising gas prices and recent turmoil in financial markets exacerbated worries about the immediate future, a survey showed on Tuesday.

Reuters - Lennar Corp. , the No. 3 U.S. home builder, posted a 74 percent plunge in profit on Tuesday and withdrew its earnings forecast, saying the industry's spring selling season has not bloomed this year.

Reuters - Auto parts maker Lear Corp. said on Tuesday that the period it set aside to wait for alternatives to a takeover bid by Carl Icahn's American Real Estate Partners LP has expired without another offer emerging.

Reuters - Stocks extended losses on Tuesday following a weaker-than-expected reading in a gauge of consumer confidence, which raised doubts about future consumer spending.

Reuters - Top U.S. video game retailer GameStop Corp. on Tuesday reported stronger-than-expected quarterly results amid upbeat sales of games, consoles and hand-held players, helping its shares rise nearly 12 percent.

Delta Air Lines says it should emerge from bankruptcy sooner than expected and will swing into profit this year.

EU finance ministers agree new rules aimed at making cross-border banking easier and cheaper.

A board member of Siemens AG is arrested in connection with a bribery probe.

Japan and Chile sign a free trade deal which will lower tariffs on a wide range of goods.

EU Commission offices, banks and homes are raided as part of a probe into allegations of corruption.

Reuters - ITT Corp. has agreed to plead guilty and pay a penalty of up to $100 million for illegally exporting night vision goggles in 2001 to China, Singapore and the United Kingdom, the U.S. Justice Department said on Tuesday.

Reuters - Consumer confidence weakened in March as higher gasoline prices and recent turmoil in financial markets made Americans nervous about the future, a report showed on Tuesday.

Reuters - An Illinois jury on Tuesday found Merck & Co. Inc.'s withdrawn arthritis drug Vioxx did not cause a 52-year-old woman's fatal heart attack and awarded no damages in the case.

Eurotunnel shares enjoy mixed fortunes on their first day of trading in London and Paris after a 10-month hiatus.

Reuters - ITT Corp. has agreed to plead guilty and pay a penalty of up to $100 million for illegally exporting night-vision goggles to China, Singapore and the United Kingdom in 2001, the U.S. Justice Department said on Tuesday.

Reuters - Lennar Corp., the No. 3 U.S. home builder, posted a 73 percent plunge in profit on Tuesday and withdrew its earnings forecast, saying the industry's spring selling season has failed to bloom and its outlook for the rest of 2007 does not look bright.

Reuters - Delta Air Lines Inc. , which plans to emerge from bankruptcy in late April, said on Tuesday it expects to swing to a profit this year on cost reductions and higher revenue.

Convoluted economics and intense speculation has pushed up the price of uranium to levels not seen since the heyday of the industry in the mid-1970s.

German prosecutors arrested Johannes Feldmayer as part of an investigation into suspected bribery.

The top executives of Deutsche Bank and Credit Suisse received substantially bigger pay packages last year, but they still lagged behind their American counterparts.

Reuters - ITT Corp. has agreed to plead guilty and pay a penalty of up to $100 million for illegally exporting night-vision goggle component parts to China, Singapore and Britain in 2001, the U.S. Justice Department said on Tuesday.

Reuters - A senior U.S. Federal Reserve staff member warned on Tuesday that subprime mortgage market troubles could last as long as two years, while a leading home builder posting a huge profit plunge blamed subprime lending problems for worsening a soft housing sector.

Reuters - Lennar Corp. , the No. 3 U.S. home builder, posted a 73.4 percent plunge in profit on Tuesday and withdrew its earnings forecast, saying the industry's spring selling season has failed to bloom and its outlook for the rest of 2007 does not look bright.

AP - Stocks stumbled Tuesday as investors grew wary when new data raised the possibility that the nation's weak housing market would seep into the broader economy and crimp consumer spending.

Falling home values, rocky stock markets and rising petrol prices hit US consumer confidence, data suggests.

Eurotunnel shares enjoy mixed fortunes on their first day of trading in London and Paris after a 10-month hiatus.

Reuters - Wal-Mart Stores Inc. Chief Executive Officer Lee Scott said the world's largest retailer is adopting a cautious stance, considering that rising fuel prices could mean this year will not be easy.

Reuters - Accenture Ltd. , one of the world's largest consulting companies, said on Tuesday that second quarter net income and revenue rose, beating analysts' estimates, on higher demand for its consulting and outsourcing services.

Reuters - U.S. stocks fell on Tuesday after a weak consumer confidence report fueled concerns the housing slowdown could spread into the broader economy and hurt profits.

Heathrow, Gatwick and Stansted operator BAA warns passengers that check-in delays may continue.

Reuters - General Motors Corp. will not make a first-round bid for DaimlerChrysler AG's (DCXGn.DE) Chrysler unit, leaving just private equity firms and an auto parts supplier in the running, the Times reported on Wednesday.

Reuters - DBS Group Holdings Ltd , Southeast Asia's largest lender, is contacting investors to form a multinational consortium to buy Korea Exchange Bank (KEB) from U.S. fund Lone Star, the Chosun Ilbo reported on Wednesday.

Democrats in the House proposed a series of revisions that won guarded praise from both organized labor and the Bush administration.

Manufacturers are drawn to Juárez, Mexico, which has both low-cost Mexican labor and easy access to the U.S. market.

The head of the United Automobile Workers made clear at a bargaining convention that workers are done making sacrifices.

Whether the trial results lead to a change in the use of stents depends on how the doctors and patients react.

New Century is still hoping to find a buyer for the company, but the chances for such a deal appear to be dimming.

The night-vision goggle maker agreed to pay a $100 million penalty for illegally sending classified military information to other nations.

Rising gasoline prices and stock market turbulence undermined consumer confidence in March.

Child magazine will be printed for the last time this spring, but the magazine?s Web site will continue to post original content.

New data raised the possibility that weakness in the housing market would seep into the broader economy and crimp consumer spending.

The Lennar Corporation also warned that it expected to fall short of its 2007 earnings forecast.

Orin E. Atkins?s 16-year tenure as chief executive of Ashland Oil was also marred by improper business dealings.

Reuters - British Airways is contemplating a 1 billion-pound ($2 billion) bid for smaller rival bmi , the Times reported on Wednesday.

Reuters - Palm Inc. remains a potential takeover target, with at least one strategic buyer interested in taking over the maker of the Treo smartphone, a source familiar with the situation said on Tuesday.

Wal-Mart may be scaling back plans to open a store in the nation?s largest city after a bruising, and so far unsuccessful, battle.

Animal welfare advocates called the chain?s shift to more humane egg and meat production a ?historic advance.?

The Long Island commercial real estate market scene now has new faces, as outside investors are increasingly buying up office buildings.

The $362 million MG production line began Tuesday, seeking to revive the historic brand both in China and overseas.

The publisher for The Los Angeles Times canceled a program to select prominent people to edit the Sunday opinion section.

The chairwoman of the Federal Deposit Insurance Corporation is the first top regulator to urge a legislative solution for the subprime problem.

Yahoo plans to offer unlimited e-mail storage to its roughly quarter of a billion users, starting in May.

The move comes after Univision agreed to pay a record $24 million fine and improve the quality of its children?s programming.

The airline expects to emerge from bankruptcy protection with an eye on improving customer service and selling more assets to build shareholder value.

A witness testified he saw a lawyer for Hollinger write a note directing payment of $9.5 million to Conrad M. Black and three other men from the sale of several small newspapers.

Jurors heard testimony about the possibility of secret government contracts that gave Qwest?s chief hope for the telephone company?s future.

Beazer Homes USA now faces a federal investigation into mortgage fraud and other accusations.

Jurors sided Merck over claims that its painkiller, Vioxx, was responsible for the death in 2003 of an obese 52-year-old woman.

EDP-Energias de Portugal will buy Horizon Wind Energy of Texas for $2.15 billion to more than double its wind-power production.

Walter C. Anderson, who once tried to turn the Russian Mir space station into an orbiting hotel, was sentenced for failing to report $365 million in income.

The patents cover computer technologies involving DVD editing, processing ability, and power consumption and efficiency.

The former general counsel at Monster Worldwide was permanently banned from working as a director or officer of a public company as part of a settlement.

Gildan Activewear, one of the largest makers of T-shirts in North America, said it would close five plants in Canada, the United States and Mexico and eliminate 1,830 jobs to move production to lower-cost operations in Central America. The company will shut two textile plants in Montreal, two sewing plants in Mexico and a cutting factory in Bombay, N.Y., it said. Gildan will record a restructuring charge of $21.5 million, or 35 cents a share, in fiscal 2007, which ends in September. Gildan, based in Montreal, is shifting production from older plants in North America to newer factories in Central America. It expects to save $45 million a year starting in fiscal 2008 from lower expenses for production, shipping and duties.

Japan and Chile have signed a free trade pact, Tokyo?s first with a South American nation and only its fifth over all. The agreement will eventually scrap more than 90 percent of tariffs on bilateral trade worth $8.2 billion last year. The two nations will work to bring the pact into effect by the time of a visit to Japan by Chile?s president, Michelle Bachelet, above, expected in September. Under the agreement, nearly all Japan?s exports to Chile, worth $1.07 billion, would be tariff-free, while 90.5 percent of Chilean shipments to Japan, worth $7.13 billion, would be exempt from tariffs within 10 years of the deal?s taking effect.

Airbus rescued a $16 billion order from Qatar Airways for 80 A350 XWB long-range planes after designing a wider body and wings to beat out Boeing?s rival 787 Dreamliner. ?We have got what we want from them,? said Akbar al-Baker, chief executive of the state-owned Persian Gulf airline. He said he expected to sign a preliminary order in a few weeks and a firm order at the Paris Air Show in June. Mr. Baker threatened to buy Boeing?s rival 787 Dreamliner last month unless Airbus came up with a detailed redesign of the A350 by June..

EDP-Energias de Portugal, an electric utility, said that it had agreed to buy Horizon Wind Energy of Texas from the Goldman Sachs Group for $2.15 billion to more than double its wind-power production. EDP, which is based in Lisbon, said it would borrow the money to pay for Horizon, which is based in Houston and has assets in 15 states. EDP has branched into Spain and the United States because it faces growing competition in Portugal. The market in the United States has gained appeal because the federal government has extended incentives for wind energy.

UCBH Holdings, a bank that specializes in serving Chinese-Americans, said it would buy the Business Development Bank of Shanghai for $205 million to offer services to customers who do business in China. Business Development Bank, which is privately held, was established in 1992 as the first bank wholly owned by foreigners to operate in China. It will become a unit of United Commercial Bank, the operating unit of UCBH. Thomas Wu, chief executive of UCBH, said the purchase should save his company four to five years in achieving its expansion plans in China.

Argentina scraps a deal with the UK to share any oil found off the Falkland Islands.