IBT Staff Reporter

HELSINKI, Jan 27 - The world's biggest cellphone maker Nokia warned of a grim start to 2011 after rivals ate even more of its market share, highlighting the scale of the turnaround task facing its new boss.

With the onset of the annual tax season in the United States, residents concerned about the status of their refund or their federal tax returns don't have to worry -- because there is an app for that.

Chinese group Lenovo, the world's No. 4 PC brand, is to invest $175 million in a joint venture with Japanese company NEC to sell PCs in Japan, it said, to help it outpace global market growth.

Lockheed Martin Corp reported a higher quarterly profit, as it had a gain from a business sale, and forecast 2011 earnings above current Wall Street estimates.

A judge in Houston, Tx. has found Allen Stanford, the alleged mastermind behind a $7 billion Ponzi scheme, is unfit to stand trial due to an addiction to pain medication.

Dow once again briefly surpassed 12,000 points as stocks rose slightly on strong earnings reports.

Only a handful of reporters were at Samsung's booth at the Consumer Electronics Show in Las Vegas earlier this month when Jay Y. Lee dropped by.

The U.S. federal government's budget in fiscal 2011 is expected to show a higher deficit than last year - nearly $1.5 trillion compared with nearly $1.3 trillion, according to a 10-year outlook report unveiled by Congressional Budget Office on Wednesday.

Standard & Poor's cut Japan's credit rating on Thursday for the first time since 2002, saying Tokyo had no plan to deal with its mounting debt, a warning that could rattle other heavily indebted rich countries.

Netflix Inc shares soared as high as 15 percent in morning trading as investors and analysts cheered the company's strong results.

Stock indexes held near 29-month highs on Thursday as buyers took their cues from companies reporting strong results, like Caterpillar, but the short-term technical picture suggested big gains are going to be hard to muster.

Time Warner Cable Inc posted a 22 percent rise in quarterly profit as it added more Internet customers and raised its dividend 20 percent.

General Motors Co has withdrawn its application for $14 billion in subsidized loans from the U.S. Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.

It’s only January and already the whole world knows what to get Rep. Michele Bachmann for Christmas – a history book, or two.

Sleepy's, as part of its new sleep campaign, is offering free pillows to 21 new House Representatives

AT&T Inc set a disappointing profit target after adding fewer wireless subscribers than expected in the fourth quarter, hinting at the troubles it may face once Verizon Wireless starts selling Apple Inc's iPhone.

A U.S. consulate employee foiled a robbery attempt and in the process shot and killed two men in eastern Pakistan.

Goldman Sachs allegedly received $2.9 billion in bailout money from American International Group, which in turn received it from the Federal government as part of the 2008 bailout package.

Slimmed-down work forces helped drive better-than-expected quarterly results from U.S. manufacturers, though some investors worried that persistently high unemployment threatens the recovery.

General Motors Co has withdrawn its application for $14 billion in subsidized loans from the U.S. Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.

Indian School of Business (ISB), a premier business school based in the south Indian city of Hyderabad, is offering a Fellow Programme in Management (FPM) with a view to churning out high-quality faculties.

Invesco Ltd , one of the largest U.S. mutual fund companies, reported a higher-than-expected quarterly profit as it benefited from a big acquisition and increases in global stock markets.

Facebook has no plans to launch Facebook-branded phones with Taiwanese smartphone maker HTC, it said on Thursday, following reports that it planned to launch an official tie-up next month.

Amazon.com announced the launch of Kindle Singles digital books that are longer than a magazine article but shorter than a typical book. Priced between $0.99 and $4.99, each Kindle Single is intended to allow a single killer idea - well researched, well argued and well illustrated - to be expressed at its natural length.

Lenovo, the world's No. 4 PC brand, will invest $175 million with NEC Corp to form a joint venture to sell personal computers in Japan, it said on Thursday, as it prepares to take on bigger rivals such as Hewlett-Packard and Dell.

Oil giant BP Plc is expected to reinstate its dividend when it unveils fourth quarter earnings on Tuesday, after it canceled the payout at the height of the oil spill last summer.

The Dow and S&P were little changed on Thursday as disappointing labor market data offset strong results from Caterpillar, but a strong outlook from Qualcomm lifted the Nasdaq.

Rating agency Standard & Poor's cut Japan's long-term sovereign debt rating on Thursday for the first time since 2002, saying the country's government lacked a coherent plan to tackle its mounting debt.

Apple is due to take gesture-based navigation to the next level, as a recently awarded patent to Apple illustrates a technology that can interpret real-world gestures on touch and hover sensitive devices.