IBT Staff Reporter

Hewlett-Packard on Monday rolled out an updated line of computer servers featuring Intel's new Nehalem Xeon microprocessor, touting their lower power use and higher performance to capitalize on customers' cost-cutting initiatives.

Canada said on Monday plans set out by the Canadian units of General Motors Corp and Chrysler don't go far enough to make them viable, but it offered C$4 billion ($3.2 billion) in bridge loans to tide the automakers over while they restructure.

Google China has officially launched its free MP3 search engine after sealing deals with four major music labels -- Warner Brothers, Universal Studios, EMI and Sony-- and over 140 indie labels.

UK’s Birmingham City University has announced plans to offer a master’s degree on social networking sites like Facebook, Twitter and Bebo.

Banks agree that compensation for top executives contributed to the financial crisis and are trying to realign pay based on performance and long-term shareholder interests, an international bank lobby group said on Monday.

The U.S. Department of Energy has unveiled a new feature in a form of a map that allows people to study the amount of money for which each state and city in the country are eligible to use under the Energy efficiency and conservation block grant program.

Western Digital is making its first foray into the Solid State Disk market with its $65 million acquisition of SiliconSystems.

President Barack Obama said on Monday said the U.S. cannot let its auto industry vanish, but didn’t rule out pain ahead for creditors, unions and other group affiliated with General Motors Corp, and Chrysler.

Apple Inc is clearing out its iPhone inventory to unveil new and improved iPhone 3G Pro versions, according to an analyst.

Auto brand Detroit Electric Holdings Ltd will partner with the Malaysian auto manufacturer Proton Holdings Berhad to produce pure electric sedan vehicles in the U.S., U.K. Europe and China markets due in 2010, the companies said Monday.

Incoming Prime Minister Benjamin Netanyahu pledged on Monday to make every effort to achieve peace with Israel's neighbors and the Arab world, but again made no mention of Palestinian aspirations to statehood.

Pol Pot's chief torturer took the stand on Monday, charged with crimes against humanity in the first trial of a top Khmer Rouge cadre 30 years after the end of a regime blamed for 1.7 million deaths in Cambodia.

Southern African leaders were Monday expected to suspend Madagascar from the SADC regional grouping, after its president was forced from office earlier this month.

Five people suspected of planning to join protests against the G20 summit in London on Thursday have been arrested after weapons were found during a raid on a house in southwest England, police said on Monday.

The following are President Obama's prepared comments on the Auto Industry and the outlook for General Motors Corp and Chrysler LLC as provided by the White House.

Arena Pharmaceuticals said its experimental obesity drug helped patients shed only about 10 pounds more than those taking placebos, sending its shares down 27 percent.

The Italian luxury goods sector expects a 21 percent drop in EBITDA this year as the global crisis cuts into sales, fashion industry foundation Altagamma said on Monday

Goldman Sachs Group Inc last year paid a combined $58 million to Co-President Jon Winkelried and General Counsel Gregory Palm, buying out two top executives suffering from a severe cash crunch.

Skype announced a new iPhone application set to be rolled out on Tuesday that will allow users with an iPhone make free Skype-to-Skype calls over Wi-Fi to other Skype users worldwide.

President Barack Obama seized the wheel of the failing U.S. auto industry on Monday, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both.

The Obama Administration says it will work with General Motors Inc to see the automaker eventually get a fresh start, promising more aggressive attempts to improve the business and leaving the door open for bankruptcy.

Leading and emerging nations will commit this week to pursuing responsible economic policies that do not hurt each other's prospects with protectionism or currency devaluations, according to a draft G20 statement.

China Construction Bank (CCB), the world's second-largest lender by market value, said on Monday it would be reasonable for major shareholder Bank of America to reduce its stake to 10 percent.

Stocks fell sharply on Monday as the Obama administration raised the specter of bankruptcy for U.S. automakers General Motors and Chrysler and Spain had to rescue regional savings bank CCM.

Fujitsu Ltd reaffirmed the company's commitment to its high-end computer server franchise, even though its partner in that business faces an uncertain future.

Google Inc on Monday launched free downloads of licensed songs in China, while sharing advertising revenue with major music labels in a market rife with online piracy.

The U.S. task force overseeing the restructuring of the auto industry on Monday said the plans submitted by General Motors Corp and Chrysler failed to show how they could be viable.

U.S. stock index futures pointed to a sharply lower open on Monday as the Obama administration threatened bankruptcy for two major U.S. automakers and Spain had to rescue regional savings bank CCM.

U.S. President Barack Obama's administration promised to push for a new United Nations climate treaty on Sunday but said Washington had no magic wand and that all countries had to help.