IBT Staff Reporter

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Chipmaker Broadcom to buy NetLogic for $3.7 billion

Chipmaker Broadcom Corp plans to buy NetLogic Microsystems Inc for about $3.7 billion to expand its lineup of chips used in wireless network equipment to take advantage of growing demand for mobile data services.

Williams loses control as Stosur wins in U.S.

Australia's Sam Stosur tamed her own pounding heart and repelled everything -- both good and bad -- that Serena Williams hurled at her to win the U.S. Open crown and her first grand slam singles title on Sunday.

Exclusive: Holiday shoppers to spend less

Most than a quarter of Americans expect to spend less during the holidays this year, a survey showed on Monday in an early sign that retailers will have to try harder to win shoppers in the biggest selling season of the year.

TSX slides on Greek-default, growth fears

Toronto's main stock market index fell sharply on Monday morning following a steep sell-off in global equities and commodities on mounting fears over Europe's debt crisis and slowing global growth.

Wall Street whipsawed by euro zone bank fears

Stocks fell in volatile trading on Monday on concerns the euro zone's sovereign debt crisis could undermine a global economic recovery, but a U.S. tech deal limited losses on the Nasdaq composite index.

Bigpoint adds gaming developers in online push

Internet gaming firm Bigpoint has bought the development team of sports-focused console gaming studio 49Games to create more online, multiplayer 3D games, as more players shift from consoles to the Internet.

RIM, Dolby set licensing deal; lawsuits dropped

Dolby Laboratories said on Monday it has withdrawn its patent infringement lawsuit against Research In Motion after the BlackBerry maker inked a licensing deal to use of some of Dolby's technologies.

McGraw-Hill to split into two listed companies

McGraw-Hill Companies Inc said on Monday it would separate into two public companies, one focused on global markets and the other on education, pleasing investors who had been pushing the company to split its businesses.

Wall St falls in choppy session on Europe woes

Stocks fell in a volatile session on Monday on concerns the euro zone's sovereign debt crisis could undermine a global economic recovery, but a tech deal limited losses on the Nasdaq index.

Berkshire Hathaway adds second investment manager

Berkshire Hathaway Inc expanded its succession plan for Warren Buffett on Monday, saying Virginia fund manager Ted Weschler will join the company to help oversee its investments from early next year.

Arctic Sea Ice Level Hits Record Low

The Arctic sea ice has reached a record historical low point on Sept. 8th, since satellite observations began in 1972.Global warming is melting the Arctic ice cap in a much higher speed than scientists had predicted, despite a rainy and cold summer.

Greek property tax a band-aid, no long term cure

A new property tax may pull Greece back from the brink of default by securing desperately needed EU/IMF cash but it also exposes the government's foot-dragging in curing chronic structural ills to exit its debt crisis.

Exclusive: Holiday shoppers plan to spend less this year

Most Americans expect to spend less or the same on the holidays this year compared with last year, a survey showed on Monday, an early sign that retailers will have to try harder to win shoppers in the biggest selling season of the year.

Greek Default Jitters Hammer French Banks, Euro

Growing fears of a Greek default sent a hurricane through heavily exposed French banks on Monday and hit the euro as investor confidence in the European currency area's ability to surmount a sovereign debt crisis ebbed.

Sara Lee North American CEO resigns

Sara Lee Corp said on Monday that North American Chief Executive CJ Fraleigh has resigned from the company, as it prepares to split its North American meat business and its international coffee and tea business into separate companies.

Bove sees no threat of Europe default on U.S. banks

Rochdale Securities' analyst Richard Bove said fears of a possible impact of a European debt crisis on U.S. banks were overblown, with only Citigroup and JP Morgan Chase having a significant exposure to the crisis.

FriendFinder to buy social commerce website

FriendFinder Networks Inc, the publisher of adult magazine Penthouse, said it will buy social commerce website JigoCity for up to $65 million in stock and warrants, to tap into fast-growing social networking markets like China and Asia-Pacific.

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