IBT Staff Reporter

Nokia plans to undercut its Windows Phone rivals to give its new smartphones a foothold in the market before trying to improve margins, its Chief Executive Stephen Elop said on Wednesday.

Cameroon's state oil company has increased its 2011 oil production forecast to 65,000 barrels per day from 55,000 bpd, an official told Reuters late on Tuesday.

Nokia plans to undercut its Windows Phone rivals to give its new smartphones a foothold in the market before trying to improve margins, its Chief Executive Stephen Elop said on Wednesday.

Consumer prices fell in October for the first time in four months, taking pressure off strapped households and giving the Federal Reserve more room to ease monetary policy if the economy falters.

A plague has descended on the inhabitance of the game “The Elder Scrolls V: Skyrim,” not a disease that cause boils but one equally disfiguring: bad textures.

The trustee overseeing the bankruptcy of MF Global filed on Tuesday for permission to release 60 percent of the near $900 million in client cash that has been frozen at the commodity brokerage for more than two weeks.

For those who can't wait to get their hands on the post-beta launch of the Minecraft good news: Mojang just released the non-beta 1.0 version.

Newt Gingrich earned between $1.6 million and $1.8 million as a consultant for the government-sponsored mortgage company Freddie Mac, far more than the $300,000 contract he disclosed in a recent debate, according to a Bloomberg News investigation. The advice he reportedly gave them contradicts his recent criticisms of the company.

Enbridge Inc surged past its competitors in the race to send large volumes of oil locked up in the U.S. midcontinent to the giant Gulf Coast refining hub after the $1.15 billion acquisition of ConocoPhillip's Seaway pipeline.

Shares of Research in Motion rose 2.5 percent in trade before the morning bell on Wednesday, after brokerage firm Goldman Sachs raised its rating on the shares of the BlackBerry maker.

Japan's disgraced Olympus Corp is preparing to take legal action, including possible criminal suits, against any executives found responsible for an accounting scandal engulfing the firm, according to an internal staff email.

U.S. consumer prices fell in October for the first time in four months as Americans paid less for new cars and gasoline, although prices outside of food and energy posted a slight increase, the Labor Department said on Wednesday.

ConocoPhillips plans to sell its interest in two U.S. pipeline companies for $2 billion as part of its strategy to shed assets it no longer considers strategic.

Citigroup plans to cut approximately 3,000 jobs, or around one percent of its workforce, continuing a pattern of job cuts on Wall Street.

Stocks fell early Wednesday as policymakers warned Europe's debt crisis posed dangers to the global economy and on signs the contagion was starting to spread to larger European nations.

TransCanada Corp is committed to building the $7 billion Keystone XL project despite a 12-to-18-month delay in U.S. approvals, the company's chief executive said on Wednesday.

Canadian stocks looked set to open lower on Wednesday along with commodities on investor fear of contagion from the weakest debt-ridden euro zone economies such as Greece into bigger ones such as Italy, Spain and even France.

Canadian private equity deals tumbled in the third quarter from the year-ago period, but were still far above crisis levels of just two years ago, according to an industry report on Wednesday.

A U.S.-based private equity firm, is looking at buying Maple Leaf Sports and Entertainment, the owner of Toronto's NHL and NBA sports teams, a newspaper reported on Wednesday.

Hackers attacking Canadian organizations are determined to make money in targeted campaigns while government insiders stole more data than ever before, a security study released on Tuesday showed.

Stocks were set to open lower on Wednesday as policymakers warned Europe's debt crisis posed dangers to the global economy and on growing signs the contagion was starting to spread to larger European nations.

Sales of existing homes in Canada rose in October to the highest level since January, boosting forecasts for national resale activity for 2011 and confirming Canada's housing market remains robust.

Supporters of the Canadian Wheat Board took their protest to Parliament Hill in Ottawa on Tuesday, in a last-ditch effort to sway legislators to keep the world's last major agricultural monopoly.

A long-awaited French deal for Dassault to sell at least 60 Rafale warplanes to the United Arab Emirates appeared to hit a roadblock on Wednesday after the Arab country's crown prince said proposed terms were uncompetitive and unworkable.

Euro zone inflation held at 3.0 percent for a second month in October, with economists saying it had likely peaked and would soon fall in a struggling economy, giving the European Central Bank room to cut interest rates and focus on growth.

The Swiss cabinet approved on Wednesday an amendment to a tax agreement with the United States to ensure that bank clients are properly informed about requests from U.S. authorities for data on suspected tax dodgers.

Target Corp posted a much bigger-than-expected jump in quarterly profit on Wednesday as shoppers responded to its 5 percent discount for cardholders.

Volatility in government bond markets is likely to continue unless European countries take steps to shield their financial systems, Canada's finance minister said as he expressed frustration with Europe's two-year old debt crisis.

Canada's communications regulator handed a partial victory on Tuesday to big Internet service providers by allowing them to charge lease fees based on the amount of capacity small providers use.