IBT Staff Reporter

American International Group Inc has delayed filing its annual proxy statement as it weighs a potential reshuffle of its board, the Wall Street Journal said, citing a person familiar with the matter.

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.

Obama administration officials have determined they can avoid asking Congress for more bank bailout funds by converting existing loans to the largest U.S. banks into common stock, The New York Times reported on Sunday.

Energy giant Exxon Mobil Corp beat discount retailer Wal-Mart Stores Inc to regain the top of Fortune magazine's list of the 500 biggest publicly traded companies, based on revenue.

Global miner Rio Tinto defended itself on Monday against shareholder criticism of its proposed $19.5 billion tie-up with China's state-owned Chinalco, its rejection of a takeover bid by BHP Billiton and its costly 2007 purchase of Alcan.

Shares of Toshiba Corp dropped 6 percent on Monday after weekend media reports of a $5 billion capital raising plan triggered dilution concerns.

General Motors Corp is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.

General Motors Corp could give away a controlling stake in its European unit as it decides whether to file for bankruptcy, the Financial Times newspaper reported on Monday.

GlaxoSmithKline PLC is close to a deal to buy U.S. skincare specialist Stiefel Laboratories for about $3 billion, the Wall Street Journal said on its website on Sunday, citing unnamed sources.

Parmalat SpA , best known to many U.S. investors for its 2003 bankruptcy and accounting scandal, may benefit as the market again focuses on its boring but steady dairy business, Barron's said Sunday.

A torrent of earnings this week threatens to swamp Wall Street's impressive rally, as results so far have shown the corporate outlook remains murky and investors worry that better-than-expected results from banks still don't prove the sector is stable.

A torrent of earnings this week threatens to swamp Wall Street's impressive rally, as results so far have shown the corporate outlook remains murky and investors worry that better-than-expected results from banks still don't prove the sector is stable.

Energy giant Exxon Mobil Corp beat discount retailer Wal-Mart Stores Inc to regain the top of Fortune magazine's list of the 500 biggest publicly traded companies, based on revenue.

Energy giant Exxon Mobil Corp beat discount retailer Wal-Mart Stores Inc to regain the top of Fortune magazine's list of the 500 biggest publicly traded companies, based on revenue.

U.S. lawmakers are puzzled by a Pentagon estimate that it would cost $7 billion extra to split a potential $35 billion refueling plane contract between two bidders, and say they may still move forward on such a plan despite Defense Secretary Robert Gates' vehement opposition.

Nintendo Co Ltd shares are oversold, Barron's said on Sunday, and reported that strong growth for the Japanese maker of electronic game systems should resume this year.

A book that inspired a generation of Latin American leftists is ringing up big sales after Venezuelan President Hugo Chavez gave it to U.S. President Barack Obama in an effort to ease diplomatic tensions.

President Barack Obama said on Sunday that the U.S. economy remained under strain and his top economic adviser tempered hopes for a speedy recovery that have driven the stock market to successive gains.

U.S. President Barack Obama said on Sunday that stress tests for the country's top banks would show some need more public help than others, but he vowed not to pour taxpayer money into a black hole.

A torrent of earnings this week threatens to swamp Wall Street's impressive rally, as results so far have shown the corporate outlook remains murky and investors worry that better-than-expected results from banks still don't prove the sector is stable.

The Obama administration thinks it can avoid nationalizing U.S. banks that are currently under scrutiny to see how well they would fare if the recession were worse than expected, the White House said on Sunday.

European Central Bank President Jean-Claude Trichet on Sunday signaled the bank's likely next move, saying it could cut its headline interest rate but only by an additional 25 basis points.

After an awful first quarter for the U.S. transport industry with precipitous drops in freight volumes across the board, analysts will be watching a slew of quarterly results in the coming week in hopes of seeing some sign of a recovery on the horizon.

Gulf investors are launching a new $10 billion Islamic investment bank and plan a $3 billion initial public offering in the fourth quarter to tap interest in sharia-compliant institutions, bank executives said on Sunday.

Swiss bank UBS , under pressure from an international campaign against tax evasion, wants to drop accounts for undeclared cash from Europe Union clients, Sonntagszeitung newspaper reported on Sunday.

Gulf investors are launching a new $10 billion Islamic bank and plan a $3 billion initial public offering in the fourth quarter to tap growing interest in sharia-compliant institutions, bank executives said on Sunday.

Major Chinese auto group Chongqing Changan Auto Co is planning acquisitions overseas as it prepares to enter Europe and North America where the industry downturn has hit hard, its chairman said on Sunday.

Belgian Economy Minister Vincent Van Quickenborne has asked the competition authority to investigate whether Anheuser-Busch InBev has abused its dominant position in delaying payments to suppliers.