IBT Staff Reporter

Worldwide PC shipments took a major plunge in the first quarter of 2009, according to analysts figures released on Friday however, analysts said it's too early to know if the market has hit bottom.

Jun 19, 2009

A small group of General Motors Corp bondholders formally objected on Friday to the automaker's plans for a speedy sale of its assets in bankruptcy court, according to court documents.

Jun 19, 2009

Yahoo Inc said it will incur $22 million to $27 million in restructuring charges in the current quarter to account for previously announced layoffs of 5 percent of its staff.

Jun 19, 2009

Coda Automotive is looking to beat its competitors to the market by being the first in introducing a highway capable electric sedan in the United States market as soon as next year, according to a report.

Jun 19, 2009

German car maker Daimler is in advanced talks to buy a stake in sports car maker Porsche SE, German magazine manager magazin reported on Friday on its website, citing financial sources.

Jun 19, 2009

GlaxoSmithKline's chief executive acknowledged on Friday that overhauling its drug discovery machine had been traumatic but said turning back the clock on R&D was now delivering results.

Jun 19, 2009

Action News sports director Gary Papa, 54, died Friday, more than five years after suffering from prostate cancer.

Jun 19, 2009

California, which is struggling to close a $24.3 billion budget gap, faces the prospect of a multi-notch downgrade in its credit rating if the state's legislature fails to act quickly to produce a budget, Moody's Investors Service warned on Friday.

Jun 19, 2009

A congressional committee said on Friday it has served the Federal Reserve with a second subpoena for documents related to Bank of America Corp's purchase of Merrill Lynch & Co.

Jun 19, 2009

Mozilla has uploaded a Firefox 3.5 Release Candidate 2 (RC2) in their FTP servers meaning it is live and available for download anytime.

Jun 19, 2009

U.S. financial markets entered a new era of good feelings in March on the back of sentiment surveys pointing to a rebound just around the corner, but hard economic data has yet to back it up.

Jun 19, 2009

Russia plans to release 30 percent more greenhouse gases by 2020 under an emissions target scheme announced on Friday by President Dmitry Medvedev.

Jun 19, 2009

The U.S. Senate passed a bill called cash-for-clunkers on Thursday which will provide cash vouchers of up to $4,500 to car owners who are willing to sell their old vehicles and trade them for new car or trucks with greater fuel efficiency.

Jun 19, 2009

JPMorgan Chase & Co said it expects to record a $1.1 billion charge in its second-quarter results after returning $25 billion in taxpayer funds to the U.S. government.

Jun 19, 2009

The S&P 500 and Nasdaq rose on Friday as positive broker comments on Microsoft boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.

Jun 19, 2009

In the month of May unemployment in the West toppled 10 percent for the first time as it reported an unemployment rate of 10.1 percent.

Jun 19, 2009

Ennis house - the mansion designed by US architect Frank Lloyd Wright that was used as a backdrop for movies like Blade Runner and TV show Buffy, the Vampire Slayer - has been put on the market for $15 million.

Jun 19, 2009

It was only a simple action - a small arm motion and the job would soon be finished. So why was I so afraid? From where was this apprehension coming? I reasoned with myself that thousands had gone before me and safely achieved this ambition.

Jun 19, 2009

The S&P 500 and Nasdaq rose on Friday as positive broker comments on Microsoft boosted technology shares, but the major averages lost ground for the week for the first time in five weeks.

Jun 19, 2009

In the month of May unemployment in the West toppled 10 percent for the first time as it reported an unemployment rate of 10.1 percent.

Jun 19, 2009

Delinquencies on mortgages that underlie commercial mortgage-backed securities (CMBS) rose by $1.63 billion in May, pushed up in part by the bankruptcy of General Growth Properties Inc (GGWPQ.PK), according to rating agency Realpoint.

Jun 19, 2009

The global economic renaissance will remain in grave peril until banks and investors quit mourning the end of a long-dead real estate boom and face up to losses inflicted by years of reckless lending and spending.

Jun 19, 2009

President Barack Obama thinks the last two U.S. economic expansions were bubble-driven and wants to make sure the next one isn't.

Jun 19, 2009

Nestlé USA voluntarily recalled its Toll House refrigerated cookie dough on Friday after health officials linked the dough to infections from the bacteria E. coli in as many as 66 people in 28 states after eating the dough raw.

Jun 19, 2009

A string of new polls seems to show that America’s belief in the wonder-working power of Obamanomics has begun to fade.

Jun 19, 2009

Supermodel Gisele Bündchen is pregnant and due early next year, People Magazine reported today citing anonymous sources.

Jun 19, 2009

Trimming carbon dioxide emissions from existing coal powered plants is crucial to achieve significant reductions around the world and stave off climate change, according to a report from the Massachusetts Institute Technology Energy Initiative on Friday.

Jun 19, 2009

The new strain of H1N1 flu is causing

Jun 19, 2009

The severe U.S. recession is likely to end by year-end but the recovery will be weak and leave the economy vulnerable to new shocks, according to some of Wall Streets top strategists.

Jun 19, 2009