EBay Inc said it will cut 10 percent of its work force and spend about $1.3 billion to buy online payment and classified companies to counter a slowdown in its main web auctions business. Shares of eBay fell by as much as 12 percent on Monday, their lowest level in more than five years, after

Chip maker Advanced Micro Devices said on Tuesday it will hive off its pricey manufacturing plants, get a cash injection and shrink its debt to compete harder against bigger rival Intel for market share. Two Abu Dahabi state-owned venture capital companies are backing the move. One will put up at least $5.7 billion into the

Western governments and central banks faced demands for coordinated action on Tuesday after Australia responded to the escalating global financial crisis by cutting its interest rates sharply. Equities across much of Asia and commodity prices rallied after the Australian central bank slashed its benchmark cash rate by 100 basis points, the biggest single cut since

Bank of France Governor Christian Noyer said on Tuesday no French bank was close to bankruptcy and there was no reason for stock markets to collapse since the companies listed on them are solid. Noyer, who is also on the European Central Bank's Governing Council, declined to comment on speculation that the world's main central

Guarded optimism mounted on Tuesday for a unified international response to the credit crisis ricocheting around the world after Australia cut interest rates far more steeply than expected. The focus shifted to other central banks, from Japan to Europe, for their answers to a call from U.S. officials for a "forceful and coordinated" global reaction