IBT Staff Reporter

When Stephen Elop bet Nokia's future on a deal with Microsoft, he was hit with a barrage of criticism. After a year of respite, the chief executive is again being haunted by a decision that is costing the shrinking mobile phone company sales and favor.

Swiss drugmaker Roche said on Wednesday it would not extend a $6.8 billion hostile offer for genetic specialist Illumina as the U.S. group's shareholders blocked its move to appoint new directors.

It's either an amusing way to follow the 2012 presidential campaign, or the death rattle for meaningful political discourse in America.

Shares in Chesapeake Energy Corp fell nearly 10 percent on Wednesday after a Reuters report that Chief Executive Aubrey McClendon had borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells.

The launch in India of a new BlackBerry by Research In Motion Ltd is not just a nod to its lower-end users who love it less for its security, push email and seamless roaming than for its simplicity and its Messaging. It's a strategy the Canadian company hopes will help fill both a hole in its balance sheet and a half-year wait for its next big thing — the BlackBerry 10 platform.

China and the Philippines took one step further on Wednesday in their ongoing military face-off over the Scarborough Reef, known by the Chinese as Huangyan Island and by the Filipino as Panatag Shoal.

Commodities trader Glencore signed a $6 billion syndicated loan backing its $90 billion merger with miner Xstrata on Tuesday after raising nearly $11 billion in syndication, banking sources said on Wednesday.

Stocks declined on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy sank after a Reuters report highlighted that its CEO has taken out large and unusual personal loans.

Apple Inc's results will be dissected more closely than ever next week, after a share swoon raised concerns on Wall Street that the stock's gravity-defying rally may be losing steam.

The Android smartphone operating system is a very important asset for Google, but it is not critical, Google's chief executive said in courtroom testimony.

Halliburton Co , the world's second-largest oilfield services company, reported a higher quarterly profit as North American sales hit a record high despite major challenges, and its shares rose more than 4 percent.

BlackRock Inc , the world's largest asset manager, said first-quarter profits were steady, bolstered by strong inflows into its popular iShares exchange-traded fund business.

Stocks were lower on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy slumped after a Reuters report highlighted large and unusual personal loans taken by its chief executive.

Swiss drugmaker Roche said on Wednesday it would not extend a $6.8 billion hostile offer for genetic specialist Illumina as the U.S. group's shareholders blocked its move to appoint new directors.

Stocks were lower on Wednesday after the S&P 500 notched its biggest gain in a month, weighed down by IBM and Intel after their quarterly results.

The government will face a major test on whether it has the capacity to govern when it faces big tax and budget decisions at the end of the year, U.S. Treasury Secretary Timothy Geithner said on Wednesday.

Berkshire Hathaway Inc Chief Executive Warren Buffett said he has stage 1 prostate cancer but his condition is not remotely life-threatening or even debilitating in any meaningful way.

Stocks were poised for a lower open on Wednesday after the S&P 500 notched its biggest gain in a month as investors digested another round of corporate earnings.

Starbucks Corp has ambitious expansion plans in China, but like any big new emerging market there are teething problems, not least of which is that customers love it so much they stay for hours and hours and sometimes don't even buy a drink.

The American president and chief executive of Nippon Sheet Glass Co Ltd <5202.T> quit the company after less than two years in the post following fundamental disagreements with the board over strategy, chairman Katsuji Fujimoto said on Wednesday.

Commodities trader Glencore signed a $6 billion syndicated loan backing its $90 billion merger with miner Xstrata on Tuesday after raising nearly $11 billion in syndication, banking sources said on Wednesday.

Fears of a resurgence in the euro zone debt crisis boosted demand for safe-haven German bonds on Wednesday, while the Bank of England and a European Central Bank official signaled more monetary policy easing to support growth was unlikely.

Halliburton Co , the world's second-largest oilfield services company, on Wednesday reported higher quarterly profits as North American sales reached a record high, lifting its shares in premarket trading.

Stock index futures dipped on Wednesday after the S&P 500 tallied its biggest gain in a month and ahead of another round of corporate earnings.

Stock index futures dipped on Wednesday after the S&P 500 tallied its biggest gain in a month and ahead of another round of corporate earnings.

The world's leading chip equipment maker ASML expects steady sales, driven by demand for hot consumer gadgets such as smartphones and tablets, but said it was hard to predict exactly when orders would arrive.

Stock index futures edged lower on Wednesday after the S&P 500 tallied its biggest gain in a month and ahead of another round of corporate earnings.

Aubrey McClendon, the CEO of Chesapeake Energy Corp, has borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells - a move that analysts, academics and attorneys who reviewed loan documents say raises the potential for conflicts of interest.

Halliburton Co , the world's second-largest oilfield services company, on Wednesday reported higher quarterly profits as North American revenue reached a record high, lifting its shares in premarket trading.