IBT Staff Reporter

Saudi Arabia's Oil Minister said Tuesday that OPEC had curbed much of the world's surplus oil supplies through already agreed to output cuts, sending crude futures down and some industrial stocks in the U.S up.

The National Academy of Television Arts and Sciences has awarded a Technical and Engineering Emmy Award to AMD (NYSE:AMD) for its video graphics product this week.

AOL announced that it has agreed to make Napster Inc. (NASDAQ: NAPS). its exclusive online music subscription service.

After a slow start to 2006, the video game industry witnessed a huge spike in sales, with hardware and software sales swelling to $3.7 billion in December.

A new report reveals that Sony Electronics outpaced its rivals in 2006, achieving the number one spot for total TV market share.

Wireless battery technology was unveiled at this year's International Consumer Electronics Show by Powercast LLC, promising to set consumers free from power cables and heavy power adapters.

Trading movies and other large data files through the popular BitTorrent delivery platform may soon happen on simple consumer devices, thanks to a pair of companies that are creating specifically designed processors that can handle what PCs can do today.

Microsoft's email and planning software Outlook 2003 has a vulnerability that can allow a malicious takeover of a users' computer and data, said a network security firm Tuesday.

The parent company of the New York Stock exchange and three other financial institutions have agreed to purchase a combined stake of 20 percent in the National Stock Exchange of India, a move which contributes to a global trend of financial markets consolidation.

Apple Inc. announced on Tuesday that it has sold more than 2 billion songs through its online music store, iTunes, making the platform the most popular store of its kind.

Apple Inc. (NASDAQ: AAPL) announced a new wireless base-station on Wednesday that increases performance over previous models with higher data rates and longer usable ranges.

Dell (NASDAQ: DELL) has just added a high-performance, liquid-cooled system to its enthusiast computer lineup.

Verizon (NYSE: VZ) unveiled the next generation of its fiber optic service for home consumers this week, promising a medium that can deliver multimedia, voice, and data to home customers.

Graphics chip firm Nvidia (NASDAQ: NVDA) and computer maker Asus have teamed up to create the first notebook computer utilizing Microsoft's Windows SlideShow technology with a secondary display.

Microsoft Corp. (NASDAQ: MSFT) announced that it will begin to update the Virtual Earth online mapping platform with new, more detailed U.S. imagery.

Apple Computer Inc. (NASDAQ: AAPL) announced an eagerly anticipated Apple branded cell phone on Tuesday, quelling months of speculation.

Consumer electronics company Samsung announced will partner web search giant Google Inc. to produce mobile phones worldwide with access to Google products and services.

Software giant Microsoft Corp. (NASDAQ: MSFT) announced a new solution that will allow consumers to watch television streaming from the internet on its popular Xbox 360 video-game console.

Semiconductor firm Advanced Micro Devices (NASDAQ: AMD) announced a new digital cable television tuner for Windows Vista based computers on Monday, which enables users to watch and record digital cable content on their PCs.

While the semiconductor industry is expected to reach the peak year of its present growth cycle, with double-digit growth expected, one research firm notes that the peak will be far below historical market peaks.

Telecom equipment maker Nokia Corp. said it will supply network equipment and mobile devices for a next-generation wireless network currently being developed by Sprint Nextel.

Mobile operator Cingular Wireless said that it will demonstrate a new service that allows wireless phone users to stream live video during the course of a call.

Samsung Electronics Co,, Ltd. is releasing a new double-sided, mobile LCD panel that can show independent images on each side.

The group behind the universal serial bus (USB) peripherals connection technology commonly found on personal computers announced the completion of a new, smaller specification for use on portable devices.

Toshiba is bringing the capabilities of HD DVD to the desktop PC with the announcement of a new drive able to read and write to HD DVD discs.

Hitachi Global Storage Technologies announced the industry's first hard drive with storage capacity of 1 Terabyte (TB).

Cisco Systems Inc. (NASDAQ: CSCO) announced today plans to acquire IronPort Systems Inc., a provider of e-mail, Web, and security management appliances, for about $830 million in cash and stock.

Driven by a strong rise in holiday spending, U.S. retail Web sites crossed the $100 billion mark for the first time, collecting $102.1 billion in 2006, a 24 percent increase over the previous year.

Samsung Electronics launched a global positioning system (GPS) navigator featuring wireless connectivity.