IBT Staff Reporter

Grooveshark has been sued by the large record company EMI Group Ltd, which accused the popular digital music service of paying no royalties since entering a licensing agreement to stream music nearly three years ago.

Former Olympus Corp CEO Michael Woodford said on Friday he will sue the Japanese camera and medical equipment maker for unfair dismissal and has instructed lawyers to start legal action in Britain.

A New York federal judge on Thursday damped hopes that he would throw out government wire tap evidence in the insider trading trial of Rajat Gupta, a former board member of Goldman Sachs and Procter & Gamble .

A YouTube video going viral on Thursday shows an optimistic Casey Anthony speaking out about her life for the first time since she was found not guilty last summer of killing her daughter Caylee in Florida.

A New York federal judge on Thursday damped hopes that he would throw out government wire tap evidence in the insider trading trial of Rajat Gupta, a former board member of Goldman Sachs and Procter & Gamble .

LOS ANGELES, JAN 5 - Rapper Kanye West had the Twitterverse buzzing on Thursday after posting a series of more than 80 tweets in a train of thoughts that left many fans and critics scratching their heads.

The securities industry, which has been gearing up for battle with the Department of Labor over its proposed higher fiduciary standard for retirement plan advisers, was hit with a litany of last-minute requests in December that they say may cause further delays.

A competition to identify the world's most energy efficient flat screen televisions will kick off on Friday, with the U.S. Energy Department and other governments sponsoring a race to cut down on home electricity use.

Corporate America's worst nightmare lives in a tiny one-bedroom apartment, loves browsing in flea markets and has a lop-eared brown and white pet rabbit named Crackers.

Family Dollar Stores Inc's quarterly sales rose less than expected, and its shares fell 3 percent in after-hours trading on Thursday even though its profit was in line with forecasts.

Apple's new iPhone 4S consumes on average twice as much data as the previous iPhone model and even more than iPad tablets due to increasing use of online services like the virtual personal assistant Siri, an industry study showed.

Apple's new iPhone 4S consumes on average twice as much data as the previous iPhone model and even more than iPad tablets due to increasing use of online services like the virtual personal assistant Siri, an industry study showed.

After the closest caucuses in Iowa history -- just eight votes separated Mitt Romney and Rick Santorum in Tuesday's caucuses -- the Republican field has been whittled down to six candidates. How will the Iowa results affect the race?

Samsung Electronics, the world's top maker of memory chips and smartphones, estimated on Friday its October-December profit would jump 73 percent to a life-time high, aided by one-off gains and record-smashing sales of smartphones.

Kanye West had the Twitterverse buzzing on Thursday after posting a series of more than 80 tweets in a train of thoughts that left many fans and critics scratching their heads.

Samsung Electronics, the world's top maker of memory chips and smartphones, estimated on Friday its October-December operating profit would jump 73 percent from a year ago to a lifetime high, aided by record-breaking sales of smartphones.

Barnes & Noble Inc cut its Nook sales forecast and shocked investors by saying it may spin off its fast-growing digital business, sending its shares plunging 17 percent.

The ousted CEO of Olympus Corp, Michael Woodford, said on Friday he is calling a halt to his three-month battle to replace the management of the scandal-tainted Japanese endoscope maker and to return to lead the battered company.

The results indicate that more routine purchases were made online this holiday season.

Elan Microelectronics Corp, a Taiwanese touch design company, said on Thursday that Apple Inc will pay $5 million as part of a settlement in a patent infringement case.

A Saudi-based computer hacker published details of thousands of active Israeli credit cards for the second time this week, the chief executive of Israel's largest card company said Thursday.

PepsiCo Inc is considering cutting about 4,000 jobs and reducing pension contributions in order to boost its earnings, the New York Post said, citing sources close to the situation.

PepsiCo Inc is considering cutting about 4,000 jobs and reducing pension contributions in order to boost its earnings, the New York Post said, citing sources close to the situation.

The former CEO of Japan's Olympus Corp, Michael Woodford, said on Friday he is dropping his bid to retake control of the troubled company.

The former CEO of Japan's Olympus Corp, Michael Woodford, said on Friday he is dropping his bid to retake control of the troubled company.

When Lauren Bossers, who lives in Pittsburgh, worked for a supply chain management software company in Dallas, she dealt with work and staff in the main office virtually, by phone and email. When she was laid off after her company was acquired in January 2010, well, that happened by phone, too.

The jobs recovery gathered pace as a measure of private-sector hiring surged in December and claims for unemployment benefits fell, suggesting the battered labor market may continue to strengthen in 2012.

Banks led Wall Street to gains on Thursday even as Europe struggled again, a sign investors are betting a relatively strong U.S. economy will help U.S. stocks outperform other markets.

A YouTube video going viral on Thursday appears to show Casey Anthony speaking out about her life for the first time since she was found not guilty last summer of killing her daughter Caylee in Florida.