IBT Staff Reporter

The number of struggling homeowners who were current on permanently reduced mortgage payments under the Treasury's housing rescue program grew to 295,348 in April from 227,922 in March, a Treasury report showed on Monday.

Home improvement chain Lowe's Cos issued a disappointing profit forecast for the rest of the year and dampened hopes for robust economic recovery in the second half, sending its shares down 3.8 percent.

The pace of the U.S. economic rebound may be slowing, manufacturing data suggested on Monday, as concerns grow about the impact of Europe's debt crisis on global growth.

Stocks dropped more than 1 percent on Monday as steep slides in commodity prices hit energy and materials shares, while below-forecast data gauging New York factory activity dented the economic outlook.

U.S. stocks dropped more than 1 percent on Monday as steep slides in commodity prices hit energy and materials shares, while below-forecast data gauging New York factory activity dented the economic outlook.

Foreigners bought a record $140.5 billion of long-term U.S. securities in March, the Treasury Department said on Monday, and more than doubled purchases of U.S. government bonds.

Microsoft Corp will pay $200 million to VirnetX Holding Corp and obtain a patent license to settle litigation accusing it of infringing two patents for communicating over the Internet.

U.S. credit card delinquencies fell for the fourth straight month in April, the latest indicator that Americans are recovering from the worst economic downturn since the Great Depression.

Sears Holdings Corp , which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar.

Washington Mutual Inc proposed an amended plan of reorganization on Monday that would return $7 billion to creditors, but it was unclear if the Federal Deposit Insurance Corp would support the plan.

Hedge fund firm Man Group PLC has agreed to buy rival GLG Partners for $1.6 billion as it seeks to boost flagging growth, while creating a new giant in an industry reshaping after the financial crisis.

British insurer Prudential Plc unveiled a $21 billion cash call as it tried to put its takeover of AIG's Asian unit back on track and launched a charm offensive to woo wary shareholders.

A retired Croatian seamstress has won a court victory against the U.S. Securities and Exchange Commission in an improbable case implicating her in an insider-trading ring.

The pace of the U.S. economic rebound may be slowing, manufacturing data hinted on Monday, as concerns grow about the impact of Europe's debt crisis on global growth.

Astellas Pharma , Japan's No.2 drugmaker, agreed to buy U.S. biotech OSI Pharmaceuticals for $4 billion in cash in a sweetened bid that will add OSI's blockbuster cancer drug Tarceva to its line-up.

Washington Mutual Inc reached agreement with the Federal Deposit Insurance Corp on an amended plan of reorganization, bringing the company closer to exiting bankruptcy, according to court documents filed Monday.

European finance ministers prepared on Monday to discuss tighter regulation on hedge funds a week after launching a $1 trillion debt rescue plan, as the euro was hit by fears austerity measures would stifle recovery.

U.S. stocks were little changed on Monday as data measuring New York factory activity came in far below forecasts, offsetting optimism over a flurry of mergers.

My father's voice came through the phone as if he were next door, not 4,000 miles away. Are you fluent yet? he asked.

The next generation of high-speed Internet services, tablets, smartphones and other mobile gadgets could arrive faster than you would expect.

Private equity firm Apollo Global Management is in talks to buy U.S. packaging maker Pactiv Corp in a leveraged deal, according to media reports.

The following are comments by euro zone finance ministers and other officials in connection with their regular meeting in Brussels on Monday.

The euro rallied against the dollar on Monday on a rise in risk appetite after a U.S. report showed strong demand for U.S. long-term securities and a flurry of short covering by investors who had bet the currency would fall further. Earlier the euro fell to a four-year low against the dollar on persistent concerns with euro zone sovereign debt and fears that planned austerity measures will hurt growth in the region, but its fortunes revived amid German bank euro buying.

India's Reliance MediaWorks, part of the Reliance ADA group, is training a small army of artists to meet the rise in demand for 3D films following the huge success of James Cameron's Avatar and other films.

The pace of the U.S. economic rebound may be slowing, manufacturing data and retailers results hinted on Monday, at the same time as concerns grow about the impact of Europe's debt crisis on global growth.

British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG's Asian unit.

U.S. stocks futures pointed to a flat open on Monday after data showed manufacturing activity in New York State grew at a slower pace than expected, offsetting optimism on the back of a flurry of mergers.

General Motors Co posted a first-quarter profit on Monday and said it is making progress toward a turnaround expected to put it on track toward its first full-year profit since 2004.

Lowe's Cos gave a disappointing profit forecast for the rest of the year, sounding a note of caution about the pace of a U.S. economic recovery and sending its shares down more than 3 percent.