IBT Staff Reporter

Oil jumped 2 percent to near $80 a barrel on Friday as an upward revision in U.S. gross domestic product for the fourth quarter helped revive lackluster sentiment.

Sprint Nextel Corp started offering a 50 percent discount on Palm Inc's Pixi phone on the same day the handset maker cut its revenue target, raising profitability concerns.

Shares Rosetta Stone Inc surged as much as 32 percent Friday, a day after the language-training software maker posted a strong quarterly profit, as investors cheered the solid growth in its international business and the push toward a recurring-revenue model.

Stocks seesawed on Friday as a fall in the U.S. dollar offset economic reports that came in mostly weaker than expected.

The stock market continued its resilience as it shakes off weak economic data Friday, following a gain in the face of bearish Greece news and high US unemployment claims the day before.

Consumer sentiment was weaker in February, as Americans grew more impatient with the government's gridlock over efforts to stimulate jobs, a survey released on Friday showed.

General Motors has approached previous bidders for its Hummer unit after a deal to sell the brand to an obscure Chinese firm collapsed.

Tata Motors, India's top vehicle maker, reported a rise in sales and margins at its Jaguar Land Rover (JLR) unit as luxury buyers returned after the global crisis, helping send its shares up more than 6 percent.

PepsiCo Inc has won U.S. antitrust approval to buy two of its largest bottlers on condition that it take steps to safeguard a rival's business information, the Federal Trade Commission said on Friday.

Facebook obtained a patent this week that will likely put the famous site into conflict with other social networking sites, according to several media reports.

The economy grew a touch more than initially thought in the fourth quarter, but a surprise big drop in sales of previously owned homes last month showed trouble spots still remain.

Popular social networking site Facebook has received a wide ranging patent for displaying news feeds from social networks.

The Obama administration bluntly urged the Congress on Thursday to steer clear of directing where terrorism suspects should be prosecuted, pushing back against efforts to require military rather than civilian trials.

Brookfield Properties Corp unit BPO Properties Ltd will convert its structure to a real estate investment trust from a corporation.

President Barack Obama filled out his commission to tackle the U.S. deficit on Friday, appointing the head of Honeywell International and a former Federal Reserve vice president to the bipartisan panel.

Shanghai Pudong Development Bank will raise about 40 billion yuan ($5.9 billion) by selling a roughly 20 percent strategic stake to China Mobile.

Legislation to extend expiring provisions of the anti-terror USA Patriot Act won final congressional approval on Thursday, with Democrats unable to add additional civil liberties protections.

Joe Jimenez, the new chief executive of Swiss drugmaker Novartis, is targeting bolt-on acquisitions as the group digests the multibillion dollar acquisition of eyecare group Alcon.

European Union privacy regulators are urging Google to make changes in the way it executes goes about its controversial Street View program, adding to its legal worries in Europe.

Popular social networking site Facebook has received a wide ranging patent for displaying news feeds from social networks.

General Electric Co has seen interest from several banks to buy its stake in Garanti Bank but tough new rules for bank minority stakes might dampen appetite.

U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.

Bayer's outgoing finance chief said the German drugs-to-chemicals company would not put its current credit rating at risk even if it launched a multi-billion euro takeover.

A composed Joannie Rochette betrayed little of her emotional turmoil as she gracefully glided to the Olympic figure skating bronze on Thursday and then wondered what her late mother would have made of her effort.

Anheuser-Busch InBev has completed the refinancing of an initial $54 billion loan facility.

South Korea's Kim Yuna can finally relax and not need to think about the future after the teenager rose to the occasion and won the gold medal in the women's figure skating on Thursday.

Canada's ice hockey women celebrated their gold medal win on Thursday by taking to the ice afterwards drinking beer and smoking cigars but they look likely to escape a rap from Olympic chiefs.Sports | LifestyleYes, we will look into this matter but it is not an investigation, Mark Adams, International Olympic Committee (IOC) spokesman told Reuters.Without a formal investigation the IOC it looked unlikely the Canadian Olympic Committee (COC), Hockey Canada or the players would fac...

The panic that gripped Canada a few days ago swung to giddy optimism on Thursday as the men's ice hockey team's path to the Olympic gold suddenly looked a lot less daunting.

Embattled New York Governor David Paterson has decided to withdraw from the race for governor and will not seek election this year, local media reported on Friday.