IBT Staff Reporter

The head of Yahoo Inc's news and information division has jumped ship to Hearst Corp, as speculation mounts that the Internet company is on the brink of a major management reorganization. Hearst said on Monday that Neeraj Khemlani will join the newspaper and magazine publisher in March as vice president and special assistant to the chief executive for digital media. Khemlani will report directl...

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession.

On Monday distributors stated that various foreign press titles are set to return to the press stands this week following a 25 year absence.

In my work as a food writer I’ve suffered lost reservations and long waits for bad tables but never—never!—have I been subjected to the serial heartbreak I suffered at the door of a neighborhood pastry shop on my last visit to Tokyo.

Stocks slid on Monday, sending the Dow Jones industrial average to its lowest in more than 11 years, as uncertainty about the government's latest bid to shore up ailing banks, including Citigroup , diminished the appetite for riskier assets. A sell-off in technology shares added to the negative tone amid concerns about declining business and consumer spending. The S&P 500 broke b...

An accounting error reportedly led Microsoft Corp to notify some laid off employees last week that they would need to give back part of their severance pay. The world's largest software maker laid off 1,400 workers last month, the first of 5,000 jobs the company plans to cut over the next 18 months. The error is believed to have overpaid some former employees and underpaid others...

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession. New York Attorney General Andrew Cuomo alleged that Thain, who was ousted from Bank of America Corp in January just three weeks after the companies merged, said Bank of America ...

have truly outstanding fundamentals, it seems to me that you ought to be thinking about that as investors and not just the short-term concerns. The deal will allow Nova to strengthen its balance sheet so it can keep operating and expanding, the companies said. IPIC agreed to give Nova a $250 million backstop facility to improve its liquidity. Meanwhile, Nova won a new $150 million credit faci...

Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.

U.S. regulators including the Treasury and Federal Reserve issued a joint statement saying the government stands firmly behind the banking system and said the government would ensure the banks had enough capital and liquidity to provide credit needed for economic growth.

Navigation device maker Garmin posted lower-than-expected quarterly results as sales of its gadgets used in cars dropped, but shares rose 15 percent as the company reduced its inventory.

Top Mexican broadcaster Televisa is seen posting an 11 percent fall in net profit during the fourth quarter of 2008, hit by higher tax reserves and a steep fall in the value of the peso currency.

Allen Stanford has millions of dollars worth of assets on the Caribbean island of St. Croix, but U.S. regulators have not seized any in their probe of the Texas billionaire, a U.S. Marshal said on Monday.

There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average meant ignominy.

Lego faces intense global competition in the $50 billion global toy market and the challenge of children. Pretax earnings at Europe's biggest toy manufacturer rose to 1.9 billion crowns ($321.3 million) from 1.4 billion in 2007.

Revenue fell 33 percent to 108.4 million euros mainly due to a 36 percent drop in clearing and settlement of transactions to 38 million euros, as well as a drop in revenue from trading in the cash market.

U.S. stocks fell on Monday due to uncertainty about the likely success of the government's latest bid to shore up beleaguered banks, including Citigroup , and a drop in technology shares pulled indexes lower. Initially, investors welcomed reports that the government could convert an earlier investment in Citigroup into a larger common stock holding as a sign the United States is ready...

Merger and acquisition activity could pick up in the manufacturing industry over the second half of the year as better-capitalized companies start to take advantage of relative bargains, a high-level Barclays investment banker said on Friday.

is subject to ratification by active UAW-Ford members and other conditions, including concessions from other stakeholders. The proposed modifications were expected to be presented to the union's local Ford leadership at a council meeting early this week, according to the unions. The modifications will protect jobs for UAW members by ensuring the long-term viability of the company, UAW Pres...

U.S. agencies detailed financial rescue plans on Monday and insisted they did not want to nationalize banks as investors fretted over how struggling firms will cope with rising recession-driven losses.

Allen Stanford has millions of dollars worth of assets on the Caribbean island of St. Croix, but U.S. regulators have not seized any in their probe of the Texas billionaire, a U.S. Marshal said on Monday.

Just a month into his presidency, Barack Obama has had to deal with everything from Cabinet missteps that have strained his no-drama Obama image to an economic crisis that seems to worsen by the day.

A bomb killed a French teenager and wounded at least 20 other people in a crowded square near a popular tourist bazaar in the Egyptian capital Cairo on Sunday, officials said.

Germany and Sweden ruled out underwriting rescue plans for Opel and Saab while Canada's Industry Minister warned on Monday that the crisis-hit North American car industry was at the precipice of nonexistence. Underlining the severity of the crisis battering the car industry, with sales plunging as the credit crunch hits consumer confidence, assembly lines at some Volkswagen p...

The Pakistan army said on Monday it had ceased operations against Taliban militants in the northwestern valley of Swat, and an Islamist cleric asked for troops to be shifted to safer places to give peace a chance.

NATO forces in Afghanistan are confident member states will provide thousands of extra troops as temporary reinforcements for presidential elections in August, the deputy commander of NATO-led forces said on Monday.

PUTHUKUDIYIRUPPU, Sri Lanka (Reuters) - After 25 years of war, Sri Lanka army Brigadier Shavendra Silva is measuring the last of the fighting in days.

Somalia's hardline Islamist insurgent group al Shabaab pledged Monday to launch more attacks on African Union peacekeepers after the deadliest strike yet killed at least 11 soldiers from Burundi.

Japanese Finance Minister Kaoru Yosano already has three key cabinet posts. Now some pundits say he looks well-placed to take the top job too.