Technology

China Mobile Agrees to Buy 20% of Pudong Development Bank for $5.8 Billion China Mobile Ltd., the world’s biggest phone company by market value, agreed to buy 20 percent of Shanghai Pudong Development Bank Co. for 39.8 billion yuan ($5.8 billion) to expand its electronic-payment business.

AOL Chief Armstrong Targets Web Ad Billions With Sales, Content Hirings AOL Inc. said it’s “laser focused” on getting a share of an estimated $20 billion gap in online advertising, as marketers race to catch up with consumers on the Internet.

Google Chief Says Talks With China's Government Will Yield Results `Soon' Google Inc., in talks with China after saying it will stop censoring Internet search results there, said the discussions will yield results soon.

Telmex Begins Offering Customers Unlimited U.S. Calls to Battle Televisa Telefonos de Mexico SAB, the phone company controlled by billionaire Carlos Slim, began offering unlimited phone calls to the U.S. to keep users from switching to Grupo Televisa SA carriers.

PCCW Says Chairman Richard Li's Plans to Buy Out Phone Company Are `Dead' PCCW Ltd., linked to a police probe following a court ruling that a buyout bid by Chairman Richard Li had been manipulated, said investors at Hong Kong’s biggest phone company should consider the takeover plan as “dead.”

Google Opens Online Store for Business Applications to Attract Developers Google Inc., owner of the most popular Internet search engine, opened an online store that helps developers of business software sell their own programs.

EMI Music Says Chief Executive Leoni-Sceti to Step Down From Record Label EMI Music, the U.K. recording company controlled by Guy Hands’s Terra Firma Capital Partners Ltd., said Chief Executive Officer Elio Leoni-Sceti will leave the company on March 31.

CNN U.S. Chief Klein Says He Fears Social-Networking Competition, Not TV CNN U.S. President Jonathan Klein said he worries more about competition from social-networking sites like Facebook than rival cable television networks.

America Movil Seeks Shareholder Approval to Pay Dividend, Buy Back Stock America Movil SAB plans to pay a one-time dividend and buy back more of its stock, rewarding investors as the Latin American wireless carrier pursues the region’s largest acquisition this year.

Abu Dhabi Hosts Global Media Executives Amid `Draconian' Press Law Debate Abu Dhabi, holder of more than 7 percent of the world’s oil, is hosting top media executives this week as it seeks to promote its role as a communications center and ward off criticism over curbs on the press.

Bank of America Hires Nomura's Yosuke Tomimatsu as a Technology Analyst Bank of America Corp., the largest U.S. bank, hired Yosuke Tomimatsu from Nomura Holdings Inc. as an analyst to cover Japan’s Internet services industry, according to an internal memo obtained by Bloomberg News.