IBT Staff Reporter

US Steel Corp said Monday it will offer 18 million shares of stock and $300 million convertible note due to 2014 to pay its $500 million debt after its first quarter fells in the current weak demand of crisis.

The share of U.S. homes privately owned but empty in the first quarter of 2009 fell to levels last seen in mid-2007, a government report on Monday showed in a positive sign for the listless housing sector.

Storage-equipment maker Emulex Corp posted an adjusted third-quarter profit and said its board was reviewing an unsolicited bid by chipmaker Broadcom Corp.

Former CEO of Allianz Life, Bob MacDonald, chastised former rival Hartford Financial Services, saying its recent downturn was not the result of global economic recession, but rather inept management.

U.S. President Barack Obama proclaimed Monday April 26 through May 2 as National Crime Victims' rights week, honoring crime victims and pledging to fight future crimes.

On Monday, Toshiba Corp. said that it will start shipping NAND flash memory with 32nm process technology ahead of its original schedule.

The Federal Reserve meets this week at a time when the U.S. economy has shown some signs of improvement, and the central bank is likely to restate its support for boosting the economy through both conventional and unorthodox means.

The U.S. Internal Revenue Service is preparing to pursue other foreign banks for allegedly facilitating tax evasion by wealthy Americans following its high-profile case against Switzerland's UBS AG , an IRS official said on Monday.

Daimler AG on Monday reached an agreement with Chrysler, the U.S. automaker's owner Cerberus Capital Management, and the U.S. Pension Benefit Guaranty Corp to exit its 19.9 percent stake in the company.

President Barack Obama on Monday announced a goal of ensuring 3 percent of the country's gross domestic product is spent on scientific research and development.

The Treasury Department will need to borrow $361 billion in the current April-June quarter, a record amount for the second quarter of the year, it said on Monday.

Barack Obama has used his first 100 days in office to set a foundation for the rest of his presidency. Time will be the judge of how successful his early months have been in resolving major U.S. challenges.

Daimler AG on Monday reached an agreement with Chrysler, the U.S. automaker's owner Cerberus Capital Management and the U.S. Pension Benefit Guaranty Corp to exit its 19.9 percent stake in the company.

Mexico said a new flu virus has killed up to 149 people and it ordered all schools to close across the country on Monday as the disease spread in the United States, Canada and Europe, raising fears of a pandemic.

Secretary of State Hillary Rodham Clinton told representatives of the world's 17 major economies that the United States is fully engaged in issues relating to climate change and is no longer absent without leave in the matter.

3i InfoTech said Monday it will acquire JPMorgan Treasury Services national retail lockbox Business (NRLB) to strengthen its capabilities and their respective core business processes.

The adverse scenario used to test the health of the 19 largest U.S. banks is disturbingly close to current economic conditions, sparking a concern that there might need to be a second stress test, a U.S. financial bailout fund watchdog said on Monday.

The World Bank is set to triple healthcare spending in developing countries to $3.1 billion this year amid signs governments are cutting funding in the midst of a global economic crisis.

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.

General Motors Corp on Monday launched a last-ditch bond exchange offer to avoid bankruptcy and planned to cut 21,000 U.S. hourly jobs in a new restructuring that would see the automaker nationalized under majority control by the U.S. government.

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.

A weird quiet seems to have settled over the country. We're in the midst of the financial crisis, yet it feels like the whole thing has somehow passed. In fact, the ionized air around us suggests we're in the eye of this hurricane—experiencing a moment of calm before the storm whips up again.

Early Monday afternoon, a 5.6 magnitude earthquake shook Mexico City, sending residents into the streets who were already frightened by the latest swine flu outbreak.

Rupert Murdoch's News Corp, hired two technology startup veterans to fill top roles at MySpace after a management shakeup last week aimed at revitalizing the online social network.

Money manager Invesco Ltd and billionaire investor Wilbur Ross are leading a group committing $1 billion to buy toxic bank loans and securities through the U.S. government's Public-Private Investment Program.

The threat of a pandemic triggered by a new swine flu strain that has killed more than 100 people in Mexico will provide a windfall for some makers of drugs, vaccines and protective masks.

Israel is a country in the Middle East, on the narrow region connecting Africa and Asia. The State of Israel occupies most of the region known as the Land of Israel.

Societe Generale dismissed a report in French newspaper Liberation of a new financial scandal at the bank, saying the article had been based on a misunderstanding of its accounts.

A trip to Israel would not be complete without visiting Jerusalem; it’s definitely a must especially for first timers. Jerusalem the golden is like no other city on earth. Sacred to the world's three major monotheistic religions, and was fought over for three millennia by a variety of peoples and nations. Jerusalem is the capital of Israel and some may say the centre of the world.