IBT Staff Reporter

Chevron Corp's net income for the first quarter rose 9.6 percent as surging oil prices offset narrower refining margins.

Murchison Metals Ltd, an Australian iron ore prospector, said on Friday it was not in talks to be taken over by Chinese firm Sinosteel Corp.

Sterling fell against the dollar yesterday as traders trimmed their bet on currency due to the strong recovery in the counterpart after the Fed decision on interest rate.

Dollar strengthened against the euro yesterday as traders took profits on the European currency amid optimism that the Federal Reserve's

Connecticut's attorney general is investigating possible conflicts of interest due to Berkshire Hathaway Inc's 20 percent ownership of credit ratings company Moody's Corp.

Lenovo Group Ltd, the world's fourth-largest personal computer maker behind HP and Dell, and Acer says it is looking to acquire other PC firms to gain market share.

The FTSE 100 share index finished unchanged on Thursday, ending as it began the day at 6,087.3 points.

Canon Inc. a Japanese manufacturer of printer and copier machines said late Friday that I will invest 60 billion yen, the equivalent to $575 million dollars to build a brand new toner cartridge in the United States.

Herbalife Ltd. Maker of nutritional supplements said its president and chief operating officer Gregory Probert resigned as it was discovered he didn't complete an academic degree.

Sony Corp. may probably report an increase of 430 percent of profit for the 2007-2008 financial year ended March 31 since demand for digital cameras, computers and other electronics increased, the newspaper Nikkei reported on Friday.

Microsoft chief executive Steve Ballmer outlined his options for moving forward with a Yahoo bid on Thursday and said an announcement would come very soon.

Odyssey Re Holdings Corp. the underwriter of insurance reported on Thursday its first quarter net earnings were of $250.9 million or $3.63 a share from $88.6 million or $1.20 a share in the same period last year.

Natural gas spot prices increased in all trading regions in the Lower 48 States this report week (Wednesday–Wednesday, April 23-30). During the report week, the Henry Hub spot price increased $0.48 per million Btu (MMBtu) to $10.81.

The dollar rose on Friday against an index of its largest rival currencies after U.S. economic data on Thursday raised expectations that the Federal Reserve would take a pause from its string of interest rate cuts.

The Walt Disney Co. said on Thursday it has taken ownership of 220 Disney Store chains from a subsidiary of The Children's Place Retail Stores Inc. and will close stores within North America.

MetLife Inc, the largest life insurer in the United States by assets, reported a 37 percent decline in first-quarter net income on Thursday, hurt by investment losses amid the economy's credit crunch.

Sun Microsystems Inc. said on Thursday it will cut from 1,500 to 2,500 jobs in the wake of U.S. economic weakness and delays in orders from some customers.

Comcast Corp. reported better-than-expected results on Thursday, citing stronger growth in its digital cable and high-speed Internet services.

Copper fell over 5 percent today as the dollar rose against the euro, diminishing demand for commodities used to compensate for inflation.

CVS Caremark Corp., the largest U.S. pharmacy store chain, reported on Thursday that its first quarter profit soared 83 percent as sales increased following the acquisition of Caremark RX Inc last year.

Gold futures fell to a four-month low on Thursday as the dollar gained against the euro and dampened the investment appeal of the precious metal.

General Motors Corp. and Ford Motor Co., the two leading U.S. automakers said sales in April fell 16 percent and 12 percent respectively as high gasoline prices lower demand for trucks.

The Kuwait Investment Authority may boost its investments in Citigroup Inc and Merrill Lynch & Co, according to comments by the group's managing director.

Apple Inc. announced Thursday a new agreement with top Hollywood studios that will allow them to start selling movies through its iTunes Music Store on the same day as the titles are released on DVD.

Crude prices declined to $111 a barrel on Thursday as the dollar gained strength against the euro, easing demand for commodities.

U.S stocks picked up on Thursday following the release of mixed economic data, with the Nasdaq Composite leading the way up after Symantec Corp.'s strong earnings were announced.

Exxon Mobil, the world's largest publicly traded oil company, on Thursday posted a $10.89 billion first-quarter profit, boosted by surging oil prices.

The Home Depot Inc., the biggest U.S. home improvement retailer, said on Thursday that it will close 15 underperforming stores, impacting about 1,300 employees mostly in the Midwest U.S.

Willis Group Holdings Ltd. said on Wednesday a restructuring charge led its first quarter net income to fall to $166 million or $1.16 a share compared to $169 million or $1.10 a share in the same period in 2007.