Taiwan-based fabless chip vendor MediaTek Inc. announced Friday that it had reached a deal with U.S.-based Qualcomm Inc. under which the two companies will allow each other to utilize technology covered by their respective patent portfolios.

Ten customers of China Airlines (CAL) will get their air tickets at a price of only 10 percent of the regular price after Taiwan's largest air carrier yesterday said it will honor the deals despite mispricing on its Web site.

China Strategic Holdings Ltd. aims to maintain long-term control of Taiwan's Nan Shan Life Insurance Co. after buying it from American International Group Inc., Chief Executive Officer Raymond Or said.

AOL Inc., the struggling Internet company, plans to cut about a third of its workers if its planned spinoff from Time Warner Inc. goes through.

American Express Co. is buying Revolution Money for about US$300 million to keep up with trends in electronic payments, where new security features and online transaction options are shaking up traditional models.

Nortel Networks Corp., the bankrupt Canadian phone-equipment maker, said it will hold an auction for its optical-networking business after a second bidder offered to buy the unit.

China Investment Corp. bought a HK$5.5 billion (US$710 million) stake in the nation's biggest producer of polysilicon as the sovereign wealth fund invests in energy and commodities companies to hedge against inflation.

SABMiller PLC, the world's second-largest brewer, on Thursday reported a 32 percent drop in net profit as revenues were hit hard by unfavorable currency movements and lager volumes declined by 1 percent.

Commercial Aircraft Corp. of China plans to build an assembly line for its homegrown C919 jetliners in Shanghai, the latest step in the country's ambitions to become a leader in world aviation.

The price of Facebook Inc. stock on exchanges for private companies has jumped as much as 42 percent in the past four months as membership of the site topped 300 million users and the company turned cash flow positive.