IBT Staff Reporter

GE Energy Financial Services, a unit of conglomerate General Electric Co., will partner with GeoResources Inc. to invest up to $90.5 million to acquire and develop oil and gas reserves in Oklahoma, the companies said Monday.

After heavy losses and pressure from shareholders to return to profitability, directors at two large U.S. banks - Wachovia Corp. and Washington Mutual Inc. - on Monday announced top-level management changes.

Wall Street began June in the red, falling for the first time in five days, as the Dow quickly lost more than 100 points Monday morning on more worries about the financial sector after Wachovia Corp. ousted its chief executive.

Angelina Jolie and Brad Pitt's twins were not born this week according to the actors' representatives who denied previous reports stating Jolie gave birth in France where the couple is currently living.

NBC Universal and two private equity firms has emerged as the frontrunner on Friday when final bids for the Weather Channel were due, according to media reports.

Copper rose nearly 5 cents on Friday as a report that stockpiles diminished raised expectations that demand is growing.

Research in Motion Ltd, maker of the Blackberry line of smartphones, had more than double the market share of its nearest competitor, Apple Inc's iPhone, according to new research.

Internet advertising sales in the U.S. are on pace to double from the period beginning last year to 2012, according to new research.

Financial sector stocks fell on Friday, despite gains from the leading U.S. insurer, American International Group.

The dollar fell against the euro on Friday after an index of Milwaukee-area manufacturing fell to its lowest level in five years.

Satellite companies Dish Network Corp. and Echostar Corp filed a lawsuit on Friday against Tivo Inc asking a court to find that their new digital video recorder technology does not infringe upon Tivo's patents.

Eastman Kodak Co. late Friday said it plans to increase prices on as much as much as 20 percent, due to the soaring costs of key raw materials, including silver and aluminum.

Dramatic photographs of previously unfound Amazon Indians have highlighted the precariousness of the few remaining lost tribes and the dangers they face from contact with outsiders.

Wal-Mart Stores Inc CEO Lee Scott's back-to-basics strategy for guiding the big-box retailer through the U.S. economic downturn has jump-started sales, boosting its bottom line and share price alike.

Yahoo Inc Chief Executive Jerry Yang said on Wednesday a potential deal with Microsoft has tremendous power, but the software giant appears no longer interested in a full merger.

Home retailer Linens Holding Co. said on Friday the U.S. Bankruptcy Court for the District of Delaware has approved store closing sales in 120 of it's over 500 stores across the country.

Time Warner Cable Inc. announced plans on Friday to allow subscribers to view Internet video on their TV screens and offer wireless in-home networking via a cable modem.

American International Group climbed nearly 2 percent on Friday after Morgan Stanley raised its rating for the company.

Gold futures ended higher on Friday for the first time this week, up more than $22 an ounce for the month, but down 4 percent for the week after declining for three consecutive sessions. Silver gained more than 2 percent.

Societe Generale said on Friday that Bear Stearns executive Michel Peretie will become the French bank's Corporate & Investment banking unit in the third quarter of this year.

U.S. stocks rose for a fourth day on Friday with technology gaining on better-than-expected profit from computer maker Dell Inc which signaled stronger business spending, while the broad market was little changed after three days of gains.

Novell Inc rose more than 4 percent on Friday after it reported a better than expected profit and rising sales for its second quarter.

U.S. air travelers experienced immense frustration over the past 12 months causing air travelers to make about 41 million fewer trips and has cost the national economy $26 billion, according to a survey from the Travel Industry Association.

An anticoagulant drug developed by Bayer AG and Johnson & Johnson showed superior efficacy in preventing blood clots in patients who had an orthopedic surgery in a Phase III trial study, Bayer reported on Friday.

Despite a profit warning from Ford last week, billionaire investor Kirk Kerkorian is solidifying his offer to buy more shares of the American car maker.

The following is the text of a message sent from W. Douglas Parker, the chief executive at US Airways, on Friday to airline employees.

Tiffany & Co., the world's second- largest luxury-jewelry retailer, said Friday its first-quarter net income rose a higher-than-expected 19 percent on stronger demand from Europe and Asia which helped make up for weaker sales in the U.S.

Plans to merge UAL Corp.'s United Airlines and US Airways Group Inc. will not happen at this time, UAL's CEO told employees on Friday.

Bristol-Myers will acquire Kosan Biosciences Inc. a cancer therapeutics company for $5.50 per share in cash, the companies announced on Thursday.