IBT Staff Reporter

Lockheed Martin Corp , the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending.

Italy's borrowing costs dropped sharply as it sold the maximum amount of 5 billion euros at an auction of short-term debt on Thursday, helping drive down yields on its longer-dated bonds ahead of a crucial sale of five- and 10-year paper on Monday.

Nokia, the world's largest cellphone maker by volume, reported better-than-expected quarterly core earnings, although they still fell 73 percent as its new Windows Phones failed to compensate for diving sales of its old smartphones.

The world is likely to have more oil, not less, this summer even as Europe imposes sanctions on Iran over its nuclear program.

Logitech, the world's largest computer mouse maker, cut its full-year outlook for the third time after third quarter sales and profit were hit by euro weakness and as computer systems require become less dependent on peripheral components.

Italy sold the top planned amount of 5 billion euros at a bond auction on Thursday, meeting sound demand ahead of a crucial sale of five- and 10-year paper on Monday.

Italy could turn out to be the investment bet of the decade if European Union leaders manage to contain the euro zone crisis.

Greece resumes tortuous negotiations on a debt swap with private creditors in Athens on Thursday, with all eyes on the European Central Bank after IMF chief Christine Lagarde said public sector holders of Greek debt may need to take a haircut too.

NEC Corp said Thursday it will slash 10,000 jobs, almost one in 10 of its workers, in a bid to cut costs as competition from foreign rivals including Apple Inc pushes it deep into the red.

Three years after the demise of Lehman Brothers exposed problems in how brokers handle client funds, trading firms are still using lax rules to withhold cash owed to clients of failed brokerages, fuelling calls for reforms.

NEC Corp said on Thursday it aims to shed 10,000 jobs by the end of September, and would fail to reach a target to raise sales to 4 trillion yen ($51.13 billion) by March 2013.

NEC Corp said Thursday it will slash 10,000 jobs, almost one in 10 of its workers, to trim costs after the electronics maker announced a loss of 87 billion yen ($1.11 billion) for the three months to December 31.

NEC Corp said Thursday it will slash 10,000 jobs, almost one in 10 of its workers, to trim costs after the electronics maker announced a loss of 87 billion yen ($1.11 billion) for the three months to December 31.

German consumer morale rose unexpectedly to a 10-month high going into February, a survey showed on Thursday, in the latest sign that consumption may support Europe's biggest economy through uncertain times.

The euro held firm against the dollar, while European shares and gold moved higher on Thursday, after the U.S. Federal Reserve set out an unambiguously easier policy stance, but fears of a messy Greek debt default still haunt the markets.

Tablet computers using Google's Android software narrowed the lead of Apple's iPad on the global market in the fourth quarter, research firm Strategy Analytics said on Thursday.

Equities, commodities and the euro extended gains on Thursday after the U.S. Federal Reserve said it would keep interest rates low for a much longer-than-expected period, providing ample liquidity to help spur growth.

Greece's private creditors are willing to improve their final offer of a four percent interest rate on new Greek bonds in order to clinch a deal in time to avert a messy default, Greek media said on Thursday without quoting any sources.

Nintendo Co Ltd posted a 61 percent drop in quarterly operating profit on Thursday and forecast a 45 billion yen ($580 million) operating loss for the full year to March 31, after poor sales forced it to slash the price of its 3DS handheld games device.

Apple's first quarter in the post-Steve Jobs era was a success.

The owner of Japan's stricken nuclear reactor, Tokyo Electric Power Co, will agree to be taken over by the government in a near-$13 billion bailout, sources said on Thursday, even as the country debates the future of nuclear power.

The owner of Japan's stricken nuclear reactor, Tokyo Electric Power Co, will agree to be taken over by the government in a near-$13 billion bailout, sources said on Thursday, even as the country debates the future of nuclear power.

Wanted: Skilled executives willing to take over large, failing U.S. financial firms at a moment's notice.

With worries about the debt crisis in Europe and high unemployment in the United States drawing the public's attention, the sliding value of corporate pension funds has largely gone unnoticed.

Netflix Inc signed up more U.S. subscribers than expected in the fourth quarter, reversing a wave of defections triggered by a series of high-profile missteps last year and pushing its shares up 13 percent.

The futures regulator said on Wednesday that its spot check of major futures brokerages did not find any material breaches of protections for customer funds.

Flash memory supplier SanDisk warned that weaker demand from some mobile device manufacturers would hurt its revenue in the first half of this year, sending its shares sharply lower.

Increasing taxes on the wealthy would bring fairness to U.S. taxpayers across the board, billionaire investor Warren Buffett said on Wednesday, backing the tax reform that President Barack Obama proposed in his State of the Union address.

Treasury Secretary Timothy Geithner said on Wednesday he would not expect to be asked to continue as Treasury chief if President Barack Obama wins re-election.