IBT Staff Reporter

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Sun Micro loss surges as margins shrink

Computer maker Sun Microsystems reported a surge in its quarterly loss as sales fell because of declining technology spending and uncertainty over the struggling company's future.

Companies restrict travel, advise staff on flu

Companies began restricting employee travel in response to a potential flu pandemic that has claimed at least 149 lives in Mexico and weighed stronger measures, while an unconfirmed case at Ernst & Young led the firm to close a portion of its New York office.

Heavy hand seen in government's GM, Chrysler role

By seeking to dictate terms to secured creditors of Chrysler LLC and General Motors Corp as the automakers struggle to win further aid by cutting debt and costs, the U.S. government has entered uncharted waters that some find unsettling.

Put your

Your phone rings. You answer, and the caller says hello, without identifying herself. Yet immediately you recognize her voice--even though you haven't spoken with her in more than ten years. How are you able to do that? There's no mystery here, for voices are highly distinct and distinguishable, sort of our

Utility execs fear impact of U.S. policies on profit

Less than half of utility executives support the Obama Administration's plan to make the United States a leader on climate change and are concerned about the impact related policies will have on industry profits, according to a survey released on Monday.

IBM raises dividend, to buy back more shares

IBM's board on Tuesday raised its dividend by 10 percent and authorized an additional $3 billion worth of share buybacks, underscoring the technology company's relative strength even in a weak economy.

NetApp fall on analyst downgrade

NetApp shares came under pressure on Tueday after Bank of America/Merrill Lynch analyst Wamsi Mohan cut his rating on the stock to Neutral from Buy.

EPA withdraws permit for massive Navajo coal plant

U.S. environmental regulators said they have withdrawn a permit for a massive coal-fired power plant that had been scheduled to be built on the Navajo Nation to send electricity to populated areas to the West.

Office Depot posts surprise profit on cost cuts

Office Depot Inc posted better-than-expected first-quarter results on Tuesday as cost cuts offset a sharp decline in sales, and the No. 2 U.S. office supplies retailer's shares jumped more than 23 percent.

Citi and BofA may need more capital after stress tests

U.S. regulators are talking to Citigroup Inc about its capital levels after stress testing the bank, people familiar with the matter said, while The Wall Street Journal reported that Bank of America Corp may need billions in new capital.

Nokia drops U.S. operator billing from Ovi launch

Nokia said on Tuesday operator billing would not be available in the United States when its Ovi store opens in May - the latest in a series of setbacks in the U.S. market for the world's top cell phone maker.

Finland

Finland’s landscapes are a glorious variation on the theme of forest and water, where the comforts of modern life are never far away. Yet each region has its distinct character, from the wilds of Lapland to the inspiring lakes of the east to the archipelagos of the south-west and the lively attractions of the capital, Helsinki.

Internet gambling bill next week: Frank

Rep. Barney Frank, chairman of the House of Representatives Financial Services Committee, said on Tuesday he would introduce legislation next week to overturn a three-year-old U.S. ban on Internet gambling.

Wall Street drifts as data offsets bank fears

U.S. stocks rose modestly on Tuesday as a dividend hike at IBM and reassuring data that could signal a bottom in the economic cycle offset concerns that major banks may need to raise more money.

Intel tops green power buyers in U.S.

Intel Corp. is the U.S. largest single purchaser of green power with more than 1 billion kilowatt-hours of green power annually, the Environmental and Protection Agency said on Tuesday.

Rep. Hoyer predicts House to pass budget

A compromise $3.4 trillion budget blueprint for next year has enough support to pass the U.S. House of Representatives, House Majority Leader Steny Hoyer told reporters on Tuesday.

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