Alibaba, China's biggest e-commerce group, buys an 18% stake in Weibo, China's Twitter-like service, as it looks to tap into the social media sector.

US carmaker Ford becomes the latest foreign company to announce plans to enter the Burmese market, after investment sanctions are suspended.

Swiss bank UBS returned to profit in the first three months of the year, after racking up big losses related to the Libor scandal at the end of 2012.

Lloyds Banking Group has reported a big rise in profits for the first three months of the year, making a total of more than £2bn.

Oil giant BP reports a fall in underlying profits for the first three months of the year, but the figure still beat analysts' expectations.

Microsoft says its email service Outlook.com will now support Skype, allowing users to make audio and video calls from their inbox.

Spain's economy shrank for a seventh consecutive quarter between January and March as domestic demand slumped.

Thousands of Kodak ex-workers in the UK will now benefit from the firm's global revenues after their pension fund bought its film and printing businesses.