IBT Staff Reporter

Microsoft Corp. abandoned its three-month-old bid to buy internet firm Yahoo on Saturday, after the two sides failed to agree on an acceptable sale price.

Boeing Co. denied additional delays to its 787 Dreamliner jet on Saturday, after a report earlier in the day from German newspaper Die Welt said the plane would be held back an additional nine weeks.

Deutsche Telekom AG, the owner of T-Mobile USA, is considering buying mobile-phone firm Sprint Nextel, according German magazine Der Spiegel.

Warren Buffet, the billionaire investor who heads Berkshire Hathaway Inc believes the U.S. dollar will continue to be weaker versus other currencies and was happy to invest in firms which didn't earn income in dollars.

The Chinese Health Ministry issued a nationwide alert on Saturday in an effort to control the outbreak of a virus which has killed 23 children in the east of the country and is spreading.

The Federal Reserve Bank on Friday proposed rules which it says will protect consumers from unfair practices regarding their credit cards and bank overdraft services.

Technology sector stocks fell on Friday despite a strong gain from Yahoo as shares of Sun Microsystems and Netsuite sank.

Demand for U.S. Treasury notes fell on Friday after an unexpectedly small decline in jobs reduced concern over a deep and prolonged recession, cutting demand for U.S. debt.

Merrill Lynch & Co. will give its new global sales and trading executive Thomas Montag a 2008 bonus of $39.4 million, according to a regulatory filing.

Countrywide Financial Corp.'s credit rating was cut to junk on Friday by Standard & Poor's rating, after a regulatory filing called into question whether Bank of America would repay the troubled lender's outstanding debt after their planned merger.

Pharmaceutical company Pfizer Inc. has made tentative deals with patients who took its Celebrex and Bextra pain killer drugs and then sued the company for damages, according to a report from the Wall Street Journal today.

Amazon.com has filed a lawsuit against New York State's new law which forces online retailers to collect sales tax on shipments to state residents.

Bristol-Myers Squibb Co. said on Friday it will sell its ConvaTec unit to private equity firms Nordic Capital and Avista Capital Partners for $4.1 billion.

Sales people on the run will soon be able to integrate their customer information with their Blackberry smartphones.

Players of the popular Grand Theft Auto video game series have always reveled in its unique blend of beatings, shootings and vehicular mayhem.

Soaring food prices have shaken U.S. politicians' love affair with ethanol, but lawmakers are unlikely to adjust mandates for a five-fold boost in biofuel until after the November presidential election.

For many bankers and traders, the days of company perks such as sleek limos, cushy business class seats, and fat steaks are gone.

Toyota Motor Corp. will recall more than 90,000 Highlander sport utility vehicles in the U.S. since a safety regulator noticed the seatbelts fail to secure child seats.

Microsoft Corp. intensified talks with Yahoo Inc. as it may raise its original $31-a-share Friday in a last-minute effort to reach a friendly agreement, according to media reports.

Marvel Entertainment Inc's prospects are rising as investors lifted the company's stock on expectations of strong box-office results for its Iron Man film.

Stryker Corp., maker of orthopedic devices, received another warning from the U.S. Food and Drug Administration related to quality issues and false documents.

Copper futures recovered on Friday from a sell-off the previous day and but gained support by better than expected jobless data and factory orders in the United States. Prices also rose amid worries on short supplies from top exporter Chile.

Gold futures edged higher on Friday after recovering from earlier losses on a stronger dollar while posting a weekly loss of nearly $32 an ounce.

Wheat increased again for the first time in four days boosted by concerns that importers will increase purchases from the U.S.

Soybeans advanced on Friday after the Argentine government failed to lift a ban on beef exports as had been promised earlier this week, raising concerns that farmers and the government may not resolve a dispute over taxes that disrupted crop exports.

AT&T unveiled its plan to launch its new video service for cell phones before the end of this week.

U.S. stocks retreated on Friday after Sun Microsystems Inc.'s disappointing results weighted on the technology sector and surging oil prices overshadowed a better-than-expected April jobs report.

Oil prices rose after four days of declines as the U.S. government released better than expected jobs data and as Turkey attacked Kurdish rebels in Northern Iraq near a rich oil field.

Home retailer Linens Holding Co., the operator of Linens 'n Things filed for Chapter 11 bankruptcy Friday, blaming declines in the housing market and in consumer spending.