Up to 60 percent of Europeans may bank online by 2020, a level already reached by Sweden and Denmark today, Deutsche Bank said in a report on Tuesday.

Shares of Clear Channel Communications surged on media reports that a revised deal has been reached to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.

TV advertisers are preparing for the 52 week season.

Google's top executives expressed hope that the Internet search leader will be able to form a potentially lucrative advertising partnership with Yahoo -- a deal that would lower the odds of Microsoft renewing its attempts to buy Yahoo.

Rupert Murdoch's News Corp. said its quarterly net profit rose on higher advertising sales at the Fox TV network and Fox News Channel, as well as a one-time gain from its stock swap with Liberty Media.

Microsoft is gauging Facebook's interest in a possible acquisition after the software giant's failed takeover attempt of Yahoo, the Wall Street Journal reported Wednesday.

Shares in China's top e-commerce firm, Alibaba.com, erased early gains to fall 2 percent on Wednesday as concern over its premium customer growth and the impact of a slowing global
economy offset enthusiasm over its forecast-beating quarterly results.

Top Chinese e-commerce firm Alibaba.com more than doubled its first-quarter earnings, beating forecasts, on strong demand for online trade and improved profit margins due to successful cost management.

NBC Universal, a unit of General Electric, plans to say next week that the entry price for a 2009 Super Bowl 30-second ad will be $3 million, the Wall Street Journal said on Tuesday.

Activist investors have been considering whether to mount a proxy fight to oust the Yahoo board because of frustration over the collapsed Microsoft deal, say people familiar with the situation.

Yahoo's shares tumbled after Microsoft withdrew its $47.5 billion takeover offer, wiping out about $7.6 billion in market value and piling pressure on its leadership, especially CEO Jerry Wang.

Shares of Yahoo fell 22 percent in premarket trading as hopes for the once dominant search engine dimmed on the withdrawal of a $43.7 billion bid from Microsoft over the weekend.

For now, it seems Microsoft CEO Steve Ballmer has kept his passionate side in check in choosing to walk away from ahostile Yahoo offer.

Now that Microsoft has withdrawn it's bid, the pressure is on Yahoo to prove it can revive its languishing stock price.

A flurry of last-minute talks between the heads of the  companies preceded Microsoft's decision  to end its bid for Yahoo.