New York: US consumers’ mood grew less grim in March, according to a survey, while the latest figures showed the US trade deficit narrowed in January to its smallest in more than six years.

AOL TIME Warner Inc, the world’s largest media company, will use $750 million from a legal settlement with Microsoft Corp to reduce debt, chief executive Richard Parsons said.

Fourth-quarter losses skyrocketed at AOL Time Warner after a staggering €45.5bn (€42bn) charge to account for the struggling media conglomerate’s plunging value.

Shares in the world’s largest media company plunged today as it faced a probe into its accounting practices in part linked to its dealings with Wembley plc.

AOL Time Warner chief executive Jerry Levin is stepping down.