Yahoo to Pursue Spinoff of Web Business in Reversal
Yahoo shelved its plan to spin off its stake in Alibaba and instead will focus on a new plan to spin off its core Web business, dealing a blow to CEO Marissa Mayer’s turnaround effort. 69
China’s Baidu Sets Sights on Autonomous Cars
China’s Baidu is joining the race to develop autonomous cars, proposing to field high-tech vehicles that could provide shuttle services in Chinese cities within three years.
China Circuit
JD.com Presses Alibaba on Fakes
JD.com Chairman and CEO Richard Liu is challenging Alibaba’s Jack Ma to crack down on counterfeit goods, Li Yuan writes.
Australia Police Arrest Two Over Plans for Terror Attack
A 15-year-old youth and a 20-year-old man were arrested in raids linked to a counterterrorism operation carried out last December.
China wants to merge its state-owned enterprises, but economists say the combinations could hurt competition. The WSJ's Eva Tam explains why.
China’s Plan to Merge Sprawling Firms Risks Curbing Competition
Beijing is considering combining some of its biggest state-owned companies. But experts say that may not be good for the country’s economy or consumers.
Dow Chemical Long Pursued DuPont
When Edward Breen stepped in to run DuPont in October, Andrew Liveris, longtime head of Dow Chemical, saw an opportunity to strike the merger he had long wanted.
Fed Plans to Signal Gradual, Cautious Path on Rate Hikes
For Federal Reserve officials, deciding to raise short-term interest rates will be the easy part of their meeting next week. The harder part may be agreeing on how to signal the likely path of rate increases in 2016 and beyond.
Heard on the Street
Why China’s Insurers Are Bidding Up Property Stocks
Capital Account
As the Gig Economy Changes Work, So Should Rules
China’s Wanda Group Pursues Stake in Hollywood’s Legendary
China’s Dalian Wanda, which owns U.S. cinema chain AMC Entertainment, is in talks to buy a minority stake in American film and television company Legendary Entertainment.
Electrolux to Pay $175 Million for Failed GE Deal
Electrolux’s failed ambition to acquire General Electric’s appliance business came at a price: The Swedish firm on Wednesday said it would pay the $175 million break-up fee demanded by the U.S. company.
Shell Reviews New Zealand Assets
Royal Dutch Shell is reviewing its interests in New Zealand as part of the energy company’s efforts to streamline its operations around the world amid a continuing slump in oil prices.
VW Says Gasoline-Emissions Issue Smaller Than Suspected
Before Volkswagen’s presentation of some results of an internal probe into its diesel-emissions scandal, the company said it no longer expected to have to set aside $2.18 billion for a separate, gasoline-engine issue.
Japan’s Biggest Bank Picks Next Leader
Mitsubishi UFJ Financial Group plans to nominate Takashi Oyamada, an executive with long domestic experience, to succeed Nobuyuki Hirano as head of its core banking unit, which is looking overseas for profits.
Iraqi Forces Repel Islamic State Counterattacks in Ramadi
Iraqi forces backed by U.S.-led airstrikes repelled Islamic State counterattacks in Ramadi a day after the army gained an important foothold in the city.
India, Pakistan Agree to Restart Reconciliation Talks
Estranged nuclear-armed neighbors India and Pakistan agreed to restart comprehensive reconciliation talks, a significant breakthrough after years of strained ties and cross-border violence.
California Shooter Said to Have Planned an Attack in 2012
Federal investigators are probing whether one of the shooters in the San Bernardino, Calif., assault had planned a previous attack in 2012, then abandoned the plot when unrelated counterterrorism arrests were made in the area. 364
Fresh Ebola Cases Damp Liberia Hopes
After the West African nation was twice declared ‘free of Ebola transmission,’ new cases serve notice that the fight against the disease will take months, even years.
Asian Shares Mixed Ahead of Fed Rate Decision
Asian stocks were mixed in morning trade as regional central banks came into focus with less than a week before the U.S. Federal Reserve decides whether to raise interest rates.
China Aims to Loosen IPO Controls by May
China aims to adopt a plan as early as May to let companies and investors have more say in new share offerings.
China Sets Yuan at Four-Year Low in ‘Stress Test’
Facing currency outflows and a weakening economy as it seeks to loosen its grip on the exchange rate, Beijing guided the yuan to its weakest level against the dollar in more than four years.
Battered U.S. IPO Market Set to End Year on High Note
The battered U.S. initial public offering market is poised to end 2015 on a high note.
India Real Time
How $51 Billion Could Illegally Flow Out of India Every Year
India ranked fourth among developing countries in terms of the amount of illicit money that flowed out of its economy between 2004 and 2013, according to a new report.
Tech
Auto Makers Fight for Car Electronics Role
Global car makers, while loath to give up control over emerging dashboard apps, increasingly are offering Apple and Alphabet mobile software links that buyers say they want in their new vehicles.
Augmented-Reality Startup Magic Leap Raising As Much As $827 Million
Augmented-reality startup Magic Leap Inc. could raise up to $827 million in a new funding round, as it seeks to distinguish itself in the rapidly growing industries of virtual reality and augmented reality.
Video
Myanmar Launches Yangon Stock Exchange
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Five Things to Know: Why Qihoo is Heading Home
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China's Big Businesses Set to Get Bigger
2:49Photos
Tricks of the Trade
A Gift for the Holidays: Fashion Tips for Guys
Nick Graham, founder of the Nick Graham and Joe Boxer labels, there are a few ways a man can’t go wrong style-wise-regardless of the holiday party.
Eating & Drinking
The Ultimate Holiday Cookie Plate: 4 Essential Recipes
Turning Points
The First Christmas Without Mom and Dad
Mind and Matter
Brain Reflexes That Monitor the Pecking Order
Television
The BBC Sets Its Sights on America
Looking to raise its visibility in the U.S., the world’s largest public-service broadcaster is focusing on “fewer, bigger, better” shows like “Sherlock” and the coming “War and Peace” miniseries, and co-producing with American partners.