IBT Staff Reporter

Nokia launched a service on Thursday which it said would cut the time a GPS-enabled cellphone takes to pinpoint its whereabouts, opening new opportunities for location-based online services.

Toshiba Corp. said on Thursday it has recalled more Sony Corp. laptop computer batteries due to fire risk, rekindling concerns over the safety of Sony-made batteries.

Motorcycle maker Harley-Davidson Inc. said on Thursday quarterly earnings rose 19 percent boosted by foreign markets although shares fell due to a greater-than-expected decline in U.S. sales.

Diversified manufacturer Honeywell International Inc. said on Thursday quarterly net profit rose 17 percent, boosted by strong demand from the aerospace and construction industries.

Logitech, the world's largest maker of computer mice, posted a 15 percent drop in first-quarter profit on Thursday as competition pressured Webcam sales, pushing shares lower.

Motorola Inc. on Thursday posted a quarterly loss as revenue fell amid weak phone sales, as it loses market share.

Hollywood screenwriters and studio executives ended a second day of contract talks on Wednesday with the two sides far apart on major issues but planning to resume negotiations next week.

Sprint Nextel Corp. and Clearwire Corp. said on Thursday they plan to jointly construct a nationwide mobile broadband network in the United States using WiMAX technology, designed to run more than five times faster than current wireless networks at a lower cost.

Bank of America Corp. Chief Executive Kenneth Lewis pledged on Thursday to complete the $21 billion acquisition of all of LaSalle Bank from ABN AMRO Holding NV early in the fourth quarter.

Billionaire investor Carl Icahn denied on Wednesday that he has a stake in Samsung Electronics Co. Ltd. or is preparing a takeover bid for the company, according to a report.

PNC Financial Services Group Inc., a fast-growing Northeast U.S. regional bank, on Thursday posted a disappointing second-quarter profit, sending shares down to their lowest level in four months.

Scrutiny of banking transactions after 9/11 has led European and Canadian banks to cut back on dealings with Cuba.

Oil resumed its march towards record highs on Thursday, climbing above $77 a barrel after a surprise drop in gasoline stocks in the United States and heightened supply concerns in Africa.

International Game Technology said on Thursday its fiscal third-quarter net earnings rose a greater-than-expected 20 percent, on higher sales of its slot machines and improved results from its own gaming operations.

Sony said Wednesday that its latest 'ultra-portable' notebook computer - the Vaio TZ - will be available at select retailers in August.

Stocks rose sharply on Thursday as multinational companies such as IBM and Juniper Networks Inc. reported earnings that beat forecasts, shifting investors' focus back to corporate profits and away from subprime credit worries.

Baxter International Inc. on Thursday reported higher second-quarter net profits, driven by improved demand for its blood therapy products that contributed to a 7 percent increase in overall sales.

The number of new claims filed for U.S. jobless benefits fell unexpectedly in the latest week, dropping 8,000 to the lowest level in two months, the government said on Thursday.

The dollar eased slightly against most currencies on Thursday over concerns about the health of U.S housing market as investors eye the next Federal Reserve rate move.

Dow Jones & Co. Inc. board member David Li, a prominent Hong Kong banker, may face civil charges in a U.S. Securities and Exchange Commission insider trading investigation linked to News Corp.'s $5 billion bid for the U.S. media company.

Canadian wholesale trade grew 0.6 percent in May from April, slightly more than expected, while inventories fell for the first time in five months, Statistics Canada said on Thursday.

Ailing Motorola was dealt another blow as the phone maker slipped a spot into third place behind second place Samsung in the race for global shipments.

NEW YORK,U.S. Treasuries eased on Thursday as investors booked some profits on a week of gains, but the market remained solidly underpinned by fears that more bad news on housing was just around the corner.

Shares of International Business Machines Corp. (NYSE: IBM) rose more than 4 percent in pre-market trading on Thursday, a day after the company expressed optimism for its full year outlook and reported a higher second quarter profit.

Bank of America Corp., the second-largest U.S. bank, said on Thursday quarterly profit rose 5 percent, as private equity and investment banking gains offset lower retail banking earnings and worsening loan quality.

Equities overcame concerns about credit market risks on Thursday, rising solidly while the dollar stuck close to record lows against the euro.

The highest growth in 11-½ years secured expectations of tighter policy to prevent the economy from overheating.

Hewlett-Packard continued its reign as the top personal computer maker in the world as its closest rival Dell declined for the second quarter but still managed to hold its U.S. lead.

Chinese actress-turned-director Xu Jinglei became the world's most widely read blogger this month when her blog logged 100 million page views within about 600 days, the Beijing News said on Thursday.