IBT Staff Reporter

The U.S. Treasury Department on Monday rolled out detailed plans for persuading private investors to help rid banks of up to $1 trillion in toxic assets that are seen as a roadblock to economic recovery.

Activision said it named Dan Rosensweig, Yahoo former chief operating officer, to run the unit that develops the video game software maker's unit popular Guitar Hero franchise.

Communications holding company, AT&T, said on Monday it plans to invest in 3G wireless expansions as part of 2009 growth programs.

Gannett Co Inc will force employees to take a new round of furloughs in April, May and June to save money as newspaper advertising revenue slides, according to a memo obtained by Reuters.

Oracle Corp. announced that it has agreed to acquire Irvine-based Relsys International Inc., a developer of drug safety and risk management software for the health care industry, which will become part of its Health Sciences Global Business Unit.

The videogame sector is looking for a resurgence this year through casual users and programs for mobile phones, themes that will be underscored this week at one of the industry's most closely watched events.

The state of Connecticut is analyzing the details of bonuses paid by American International Group to see whether they violated state law and what possible remedies might be pursued, the Commissioner of Consumer Protection said on Monday.

Phone companies faced off against consumer groups on Monday, in a debate over whether $7.2 billion in federal broadband spending should come with a mandate that Internet networks remain open to all traffic.

U.S. stocks jumped more than 4 percent on Monday after long-awaited details from the Obama administration on its plan to remove distressed assets from bank balance sheets fueled optimism it will spark a revival in lending, driving up financial shares.

Investment bank JPMorgan Chase & Co said on Monday it had no plans to purchase new corporate jets or build an airport hangar until it has repaid the funds it got through the U.S. governments Troubled Asset Relief Program .

Intel is seeking permission from its shareholders to revalue worthless employee stock options, a controversial move that the world's biggest chipmaker says is needed to retain critical staff.

It may have been a fashion first, but supermodel Naomi Campbell has nothing to fear.

General Growth Properties Inc , the second largest U.S. mall owner, said on Monday that its subsidiary Rouse Co LP would extend the deadline to reach an agreement that could allow it to skip payments on more than $2 billion of debt

Tiffany & Co posted a lower quarterly profit on Monday, but trumped Wall Street's expectations, as the upscale jeweler kept a tight lid on costs to combat sharply lower sales, sending its shares up 13.1 percent.

Walgreen Co posted a better-than-expected quarterly profit on Monday as the drugstore chain controlled costs even as consumers cut back on discretionary buying.

Short-selling should be regulated as some practices may create disorderly markets during extreme financial turmoil, a global body of supervisors said on Monday.

Stocks jumped on Monday, with the Dow and S&P 500 gaining 4 percent after the U.S. government released the details of a plan to clean out toxic assets from banks' balance sheets.

Oil jumped more than $1 to above $53 a barrel on Monday, supported by a rise in the stock market after strong housing data and on details of a U.S. plan to remove toxic assets from bank balance sheets.

Daimler shored up its capital base and secured Abu Dhabi as a friendly investor in a deal some analysts said revealed how tough the auto industry crisis was proving for the luxury German group.

The Dutch Finance Ministry will seek to curtail bonuses among senior management at financial companies receiving government support, while ING is asking some staff to give back their 2008 bonuses.

Nokia has dropped plans to add its gaming service to the older, but very successful N73 model, a spokesman for the top cellphone maker said on Monday.

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.

Walgreen Co posted a lower quarterly profit as the company spent more to promote nonprescription items amid the weak economy while also taking charges for a restructuring aimed at saving money long-term.

Walgreen Co posted a lower quarterly profit as the company spent more to promote nonprescription items amid the weak economy while also taking charges for a restructuring aimed at saving money long-term.

Oil jumped more than $1 to above $53 a barrel Monday, supported by a rise in the stock market after strong housing data and on details of a U.S. plan to remove toxic assets from bank balance sheets.

Stocks rose on Monday after the U.S. government released the highly anticipated details of a plan to clean out toxic assets from banks' balance sheets, a key part of the government's efforts to revitalize the recession-hit economy.

Walgreen Co posted a better-than-expected quarterly profit as the drugstore chain's restructuring efforts paid off even as consumers cut back on discretionary buying, sending its shares up 5 percent in premarket trading.

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.

The pace of sales of existing home in the U.S. rose 5.1 percent in February to a 4.72 million-unit annual rate, rebounding from the previous month's drop, while home prices fell again the National Association of Realtors said on Monday.