China and South Korea are investigating complaints that hundreds of Korean-invested factories have closed down, leaving workers without pay.

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DOWNSIDE RISKS: Ben Bernanke told Congress the Fed was ready to further reduce interest rates to prevent an economic slowdown despite heightened inflation worries
US Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that weak US economic growth may prompt the central bank to cut interest rates further to ward off a severe downturn.

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Japan's fair trade watchdog raided two electronics companies yesterday on suspicion of fixing prices of display panels for Nintendo's popular DS portable game machines, officials said.

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LINKEDIN: Some analysts may be happy to see Gates taking an interest in the Internet startup instead of forking out more than US$40 billion for a slumping Yahoo
AP, SAN FRANCISCO and SUNNYVALE, California

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■ ENERGY

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