Summary Box: Sony to cut 10,000 jobs

TRIMMING THE PAYROLL: Sony Corp. says it will slash 10,000 jobs, or about 6 percent of its global workforce.

U.S. trade gap narrows sharply in February to $46 billion

WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in February as exports hit a record high, imports from China and other key suppliers declined and oil import volume fell to the lowest in 15 years, a government report showed on Thursday. The monthly trade gap shrank 12.4 percent to $46.0 billion, the biggest month-to-month decline since May 2009, the Commerce Department report said. Analysts surveyed before the report had expected the deficit to narrow only slightly from January's revised estimate of $52.5 billion. U.S. exports edged slightly higher to a record $181. ...

Investors losing faith that Nokia can stop the rot

HELSINKI (Reuters) - Ailing cellphone maker Nokia has the cash to survive seven quarters like the last, but investors are losing faith that it can break the vicious circle that keeps customers and in turn application developers from its new phones. Chief Executive Stephen Elop, who joined from Microsoft in 2010, gambled last year that ditching Nokia's homegrown Symbian phone software in favor of a largely untried version from his old employer would put the company back in the driving seat. ...

Walmart International focusing on own business over deals

(Reuters) - Wal-Mart Stores Inc is emphasizing improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday. "Our focus this year in particular has been on improving returns with our existing businesses," said Doug McMillon, chief executive officer of Walmart International. The company is working on the key markets of China and Brazil, he told investors and analysts at a meeting in Toronto that was also webcast. China is getting ready to move to an everyday-low-price model, he said. ...