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Report: Japan's Rakuten Seeking to Buy Ebates

Japanese e-commerce giant Rakuten is in the final stage of talks to buy Ebates, a U.S. cash-back shopping service provider, and boost its business abroad, a report said Saturday.

Rakuten is expected to acquire a majority stake in the San Francisco-based company at an estimated price of more than 100 billion yen ($950 million), the business daily Nikkei reported.

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China's Alibaba Eyes Record-Breaking IPO

Chinese online marketplace Alibaba unveiled plans Friday to raise up to $24.3 billion in what could be the biggest stock flotation in history.

The company told US regulators it would offer some 320 million shares in a range of $60 to $66 per share. An option will be available for 48 million additional shares.

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Jeans Face an Uncertain Future Amid Yoga Wear Rage

Americans' obsession with jeans is beginning to wear thin.

Jeans long have been a go-to staple in closets across the country. After all, not many pieces of clothing are so comfortable they can be worn daily, yet versatile enough to be dressed up or down.

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Eurozone Economy Stagnates in Second Quarter

The eurozone economy stagnated in the second quarter, official figures showed on Friday, in line with the poor outlook which pushed the European Central Bank into radical action on Thursday.

In a second estimate for growth in the 18-country currency zone, the Eurostat statistics body confirmed zero percent growth from the previous quarter.

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Industrial Data Dispel Clouds over German Economy

The cloud over the German economy, Europe's biggest, appeared to lift somewhat on Friday with data showing a strong rise in industrial production in July.

According to economy ministry data, industrial output increased by 1.9 percent in July, after already rising by 0.4 percent in June.

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Dollar Hits Six-Year High against Yen in Asia

The dollar soared to a near six-year high against the yen Friday on upbeat expectations for U.S. jobs data, while the euro sank after the European Central Bank launched a surprise round of monetary easing.

The greenback jumped to 105.69 yen in early Asian trade, its highest level since October 2008, before easing slightly to 105.32 yen. However, it is still above the 105.22 yen seen late in New York.

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Rebuilding Gaza to Cost '6 Billion Euros'

The reconstruction of the Gaza Strip, devastated during 50 days of war with Israel, will cost six billion euros ($7.7 billion), Palestinian experts said in a report Thursday.

The Palestinian Economic Council for Development and Reconstruction, a Palestinian Authority body that oversees the implementation of donor-financed projects, said the process would take "five years if Israel removed its blockade over Gaza entirely."

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Tunisia Ripe for Recovery from Post-Revolt Chaos

Tunisia has stabilized from the fallout of the 2011 revolution and is now ripe for investment in its battered economy, Prime Minister Mehdi Jomaa told AFP in an interview.

Speaking ahead of the "Invest in Tunisia: Start-up democracy" conference to be held on Monday, Jomaa said Tunisia's new government was upbeat but realistic about a recovery.

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Reports: Nine Firms Bid for Struggling Cyprus Airways

Nine firms have made non-binding bids for Cyprus Airways with Ireland's Ryanair and Greece's Aegean Airlines among those still interested in buying the loss-making national carrier, a report said Thursday.

There has been no official announcement since the deadline for bids closed on Wednesday but the Phileleftheros newspaper said nine of the 14 firms that had expressed initial interest had tabled proposals.

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Malaysia Airlines Renames 'Bucket List' Promotion

Malaysia Airlines has renamed a promotional competition asking people what activities and destinations are on their "bucket list" after acknowledging it was inappropriate given the two deadly disasters it has suffered this year.

A bucket list is a term used by some English-speakers to describe a list of adventures they want to have before they die.

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