COMPANIES

International Business Machines Corp. (IBM) posted strong results for its fourth fiscal quarter on Monday, beating analysts expectations on good results from its international divisions and boosting the overall tech sector.

A pair of the largest U.S. banks are expected to report big losses this week, including write-downs worth tens of billions of dollars due in part to the ongoing global credit crisis, triggered by bad bets in mortgage-related investments.

Chrysler LLC and Nissan Motor Co. announced a partnership on Friday for the South American market which calls for cars produced by Nissan but sold under the Chrysler brand name.

Citigroup is expected to get investments from Saudi Prince Alwaleed bin Talal, the government-run China Development Bank and other investors that could total between $8 billion and $10 billion, according to a report.

With TV woes, so the Super Bowl couldn't come at a better time.

The world's largest energy consumer laid down ambitious new mandates for alternative fuels

Saudi Arabian Prince Alwaleed bin Talal will inject new cash into Citi

UPS Inc. announced on Friday that it will increase the general rate of about 5.4 percent on non-contractual shipments in the U.S. and Canada.

Amid a great deal of hype and fanfare, Tata Motors, frontrunners in the acquisition race for Ford Motor's British luxury brands Jaguar and Land Rover, unveiled its People's Car rechristened Nano, that meets Euro 4 emission and safety norms in the India Auto Expo 2008, New Delhi, Thursday, Jan. 10.

In the early days of Countrywide Financial Corp, competitors underestimated Angelo Mozilo, the mortgage lender's founder.

MBIA Inc., the world's largest bond insurer, said it has $9 billion of exposure to the riskiest mortgage debt, $900 million more than the company disclosed about three weeks ago.

Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost twice the company's original estimate, the New York Times reported on Friday.

Bank of America confirmed on Friday it agreed to acquire Countrywide Financial Corp. in an all-stock transaction worth approximately $4 billion, five months after making a $2 billion investment in the troubled mortgage lender. In July last year, Bank of America purchased a 16 percent stake in the nation's largest mortgage lender during the height of the summer's global credit crunch.

In its second executive shuffle of the year, Microsoft Corp. announced on Thursday that the head of the unit which produces its valued Office software suite, plans to retire in September to be replaced by Stephen Elop, the former chief operating officer at Juniper Networks.

Shares of Countrywide Financial shot up more than 50 percent on Thursday after a report that Bank of America may buy the troubled leading U.S. mortgage lender. The reported pending talks, come amid rumors earlier this week that Countrywide needed cash to avoid bankruptcy, speculation that the company denied.

Citigroup, Inc. and Merrill Lynch & Co., U.S. banks which have seen heavy losses due to bad bets on the mortgage market, are in discussions to get up to $10 billion and $4 billion in capital respectively primarily from foreign governments, according to a report on Wednesday.

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, sending its shares tumbling for a second day to their lowest in nearly 13 years. Shares fell 11.9 percent in afternoon trading.

Blockbuster Inc Chief Executive James Keyes said on Wednesday he was comfortable the nation's leading DVD rental chain will meet financial targets of its debt agreements in the first quarter and beyond.

The number of calls to non-profits and mortgage counselors by people eager to avoid foreclosure on their homes is rising but solutions are not always simple.

Goldman Sachs Groups Inc. said on Wednesday the U.S. economy is likely to drop into recession this year leading the Federal Reserve to cut interest rates by 2.5 percent by the third quarter. The global investment bank said in a note to clients there is an 88 percent chance that the Federal Reserve will lower its target for overnight rates to 3.75 percent from 4.25 percent at its next policy meeting on January 30, as February fed funds futures rose 0.02 points to 96.19.

Starbucks Corp., the world's largest chain of coffee shops, ousted Chief Executive Officer Jim Donald on Monday and brought former CEO and Chairman Howard Schultz to the post after reporting its worst-ever annual performance and competition from fast-food rivals such as McDonald's.

CITIC Securities, China's largest listed brokerage, said on Monday its net profit more than quintupled last year.

McDonald's Corp is set to launch coffee bars with baristas serving cappuccinos and lattes, moving into direct competition with global coffee chain Starbucks Corp., The Wall Street Journal reported on Monday.

The Boeing Company recorded 1,413 net commercial airplane orders during 2007, reaching more than 1,000 orders for the third consecutive year.

Arctic Cat Inc. said on Friday lowered its third quarter sales outlook, anticipating that retail sales of all-terrain vehicles (ATVs) will continue.

Wendy's International, Inc. reported Friday that average same-store sales at U.S company restaurants decreased 0.8 percent for the fourth quarter.

Communications between Berkshire Hathaway Inc Chairman Warren Buffett and former American International Group Inc Chairman Maurice Hank Greenberg won't have to be turned over to the former head of a Berkshire unit whose fraud trial begins Monday.

Blank check initial public offerings look poised to carry their momentum from recent months into 2008, based on a bumper crop of new regulatory filings, but some say uncertain market conditions could put an end to the boomlet.

The pace of job losses in mortgage lending slowed in December, as some companies shifted workers to other areas of financial services, but the losses may pick up again in the new year as the U.S. housing market continues to weaken and credit remains tight.