IBT Staff Reporter

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Nokia's chairman to step down next year

Nokia, the world's largest phone maker by volume, has started to look for a new chairman to succeed long-time leader Jorma Ollila, who will step down next year.

Should Bush Get Credit for Bin Laden's Death?

When it comes to handing out credit for the killing of Osama Bin Laden, some are saying President George W. Bush should get some, although when his time came to speak, the former President didn't mention himself and congratulated President Obama, the military and intelligence personnel.

Pfizer drug sales fall, lower-margin units shine

Pfizer Inc reported disappointing revenue for Lipitor and other medicines, exposing the risks the world's biggest drugmaker faces if it sells better-performing units like its nutritional products business.

Deutsche Bank faces U.S. mortgage fraud lawsuit

The United States sued Deutsche Bank AG, accusing the German bank and its MortgageIT Inc unit of repeatedly lying to be included in a federal program to select mortgages to be insured by the government.

Investors move back into cash in April: Reuters poll

Investors pulled back some of their exposure to equities in April, buying bonds and turning to safe-haven cash amid worries that global economic growth could falter from its rapid pace, Reuters polls showed on Tuesday.

MetroPCS boosts customer growth

MetroPCS Communications posted a higher quarterly profit on stronger-than-expected customer growth, sending its shares up as much as 9 percent.

Honda adds 833,000 vehicles to airbag recall

Honda Motor Co Ltd expanded an earlier recall of Honda and Acura vehicles over replacement airbags that could deploy with too much pressure, causing injuries or fatalities, the company said on Tuesday.

March factory orders, shipments climb

U.S. factory orders surged in March, posting a fifth straight monthly increase that showed a healthy manufacturing sector well placed to support economic recovery.

Convicted ex-Goldman programmer bids for release

A former Goldman Sachs Group Inc programer, sentenced to eight years in prison for stealing part of the bank's high-frequency trading code, should never have been charged, his lawyer argued on Tuesday in a bid to have him released while he appeals.

Pfizer drugs wilt, lower-margin units shine

Pfizer Inc reported disappointing quarterly revenue on declining demand for its prescription medicines, exposing the risks the world's biggest drugmaker would face if it sells better-performing units like its nutritional products business.

Saab rescued by Chinese automaker

A privately-owned Chinese auto maker has come to the rescue of Saab, paving the way for the Swedish marque's new model to be made in China by pumping cash into a company in danger of collapse.

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