The Obama administration proposed a tax overhaul that would lower the maximum rate companies pay, though Republicans called the plan disappointing, underscoring the difficult path ahead.

Indonesia needs to move quickly to expand and modernize its ports to keep up with a recent increase in exports and imports generated by the archipelago's sustained growth, the country's trade minister said.

Stocks pared losses and were slightly lower amid unease about the implementation of Greece's debt deal.

Julia Gillard's government was tipped into crisis when Kevin Rudd unexpectedly resigned as foreign minister, setting up a possible leadership challenge.

Former IMF chief Dominique Strauss-Kahn was released late Wednesday from a police station in the northern French town of Lille, after being held for questioning for two days in a prostitution scandal.

The greenback rose above ¥80 and hit its highest level since August.

Greece braced for further anti-austerity protests while the country's parliament was debating legal changes that would clear the way for a debt restructuring.

French car maker Peugeot Citroën is discussing a European alliance with General Motors as the two grapple with weak sales and a raging price war on the continent.

Europe's debt crisis and slow growth around the world have raised serious questions for China this year. Liu Mingkang, former China Banking Regulatory Commission chairman, sees a number of challenges.

AirAsia reported a sharply lower profit in last year's final quarter, as fuel expenses rose for Southeast Asia's largest discount carrier.