IBT Staff Reporter

Research in Motion capped an already dismal year with a steep profit warning on Friday, taking a huge charge to write down inventories on its languishing PlayBook tablet and sending its shares tumbling more than 8 percent.

- Zynga Inc, which plans to go public in two weeks, on Friday slashed its value by more than 30 percent to $9 billion, hoping to avoid the fate of other recent Internet IPOs that have disappointed after stock market debuts.

Fiat SpA's five car factories in Italy are all in the red and its profits now driven squarely by U.S. affiliate Chrysler, meaning a further scaling back of its 100-year-old Italian operations -- if not a complete pullout -- now looks increasingly likely.

Fiat SpA's five car factories in Italy are all in the red and its profits now driven squarely by U.S. affiliate Chrysler, meaning a further scaling back of its 100-year-old Italian operations -- if not a complete pullout -- now looks increasingly likely.

Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

Stocks rose on Friday after data showed the U.S. jobless rate dropped to a 2-1/2 year low and as European policymakers again appeared ready to collaborate in tackling the region's debt crisis.

In the latest in a drumbeat of dismal news, Research in Motion warned on Friday it would fall short of its financial targets after taking a huge charge to write down inventories on its languishing PlayBook tablet, and its shares tumbled more than 8 percent.

Book publishers have survived the first stage of a digital revolution in better shape than the music industry and are now embracing the shift to e-books in their search for new revenue streams and lower costs.

David Kotz, the top watchdog of the Securities and Exchange Commission, is facing mounting criticism over some of the investigative techniques that have won him plaudits on Capitol Hill.

Federal deficits are complicating efforts by the Federal Reserve to help the economy, but using the central bank as a printing press to solve the problem is not an option, a top Fed official said on Friday.

The International Monetary Fund is happy to play a behind the scenes role in resolving the European debt crisis, which needs to be tackled with fiscal consolidation and structural reforms, the lender's chief Christine Lagarde said on Friday.

The biggest legal battle for the technology industry is playing out in a federal court in Silicon Valley, where Apple is trying to stop Samsung from selling Galaxy phones and tablets in the United States.

Wall Street stocks were set for a higher open on Friday after data showed the U.S. jobless rate dropped to a 2-1/2 year low and as policymakers again appeared to move a step closer to tackling Europe's debt crisis.

Research in Motion warned on Friday it would fall short of its financial targets after taking a huge charge to write down the value of its PlayBook tablet, and the BlackBerry maker's shares tumbled.

Research in Motion warned on Friday it would fall short of its financial targets after taking a huge charge to write down the value of its PlayBook tablet, and the BlackBerry maker's shares tumbled.

Stock index futures briefly extended their gains on Friday after the non-farm payroll report showed accelerated job creation in November and the unemployment rate unexpectedly dropped.

Employment growth picked up speed in November and the jobless rate dropped to a 2-1/2 year low of 8.6 percent, further evidence the economic recovery was gaining momentum.

Britain orchestrated this week's bold move by central banks to stave off a cash crunch in global markets, helping drive a plan that began to take shape around 10 days ago.

Stock index futures rose sharply on Friday after a report the European Central Bank was gearing up to lend money to the International Monetary Fund in a bid to ease the Eurozone debt crisis.

Stock index futures rose sharply on Friday after a report the European Central Bank was gearing up to lend money to the International Monetary Fund in a bid to ease the euro zone debt crisis.

Stock index futures rose sharply on Friday as German Chancellor Angela Merkel reiterated her strong support for the euro and after a report the European Central Bank was gearing up to lend money to the International Monetary Fund in a bid to ease a euro zone debt crisis.

- Zynga Inc could raise $925 million, less than previously planned, in what is still one of the largest and most hotly anticipated Internet IPOs in years.

Research in Motion said on Friday it would take a big charge in its third quarter to write down the value of its poorly received PlayBook tablet computers, in a fresh setback for the struggling BlackBerry maker.

German Chancellor Angela Merkel called on Friday for rapid EU treaty change to remedy the root causes of the euro zone's debt crisis but warned that Europeans faced a long, hard marathon to restore lost credibility.

Some big Japanese shareholders in disgraced firm Olympus Corp may support ex-CEO Michael Woodford's campaign to return to the helm -- a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach.

South Korea's LG Display Co Ltd said on Friday that its head of TV business will take over as chief executive in 2012 in a surprise announcement as the flat-screen maker struggles with mounting losses and weak demand.

The euro zone debt crisis cannot be solved overnight, German Chancellor Angela Merkel said on Friday, urging instead a long-term approach that relies on tougher fiscal rules being enshrined in European treaties.

Alibaba Group, China's largest e-commerce company, said on Friday it is beta-testing a new social-networking-product, as the firm expands outside e-commerce to seek other revenue streams.

JP Morgan Chase & Co has hired former Credit Suisse Group AG executive Neil Hounslow as head of its prime brokerage in Asia-Pacific as the Wall Street bank looks to service hedge funds investing in the region.