IBT Staff Reporter

Hewlett-Packard Co said on Monday long-time director Larry Babbio Jr. will step down, as the technology giant continues to restructure its much-criticized board.

State and federal officials are close to a settlement with the largest U.S. banks over mortgage abuses, with states facing an end-of-the-week deadline to decide whether they will sign on, people close to the talks said.

Stocks edged lower on Monday on stalled Greek debt talks, but an afternoon rally cut losses in a sign of the underlying resilience the market has shown early in the year.

French art database and ad specialist Artprice.com expects sales to soar this year on the back of the launch of an online auction service, its chief executive told Reuters on Monday.

Symantec Corp said it is safe to use its pcAnywhere software for accessing remote PCs after it asked customers last week to disable the product because it put them at greater risk of being hacked.

European leaders agreed on a permanent rescue fund for the euro zone on Monday and 25 of the 27 EU states backed a German-inspired pact for stricter budget discipline, but they struggled to reconcile fiscal austerity with economic growth.

Newt Gingrich would like to make Saul Alinsky the bogeyman of the 2012 campaign -- never mind that he misrepresents almost everything about Alinsky, and never mind that Alinsky's tactics have been adopted by the Tea Party and by Gingrich himself.

Stocks edged lower on Monday on stalled Greek debt talks, but an afternoon rally cut losses in a sign of the underlying resilience the market has shown early in the year.

Amazon.com Inc's Quidsi unit may be getting into sporting goods, challenging retailers in this niche, including Dick's Sporting Goods, Hibbett Sports and Cabela's, analysts at Credit Suisse said Monday.

Deutsche Boerse's home regulator, the Hessian Minister of Economics, said the German exchange operator has failed to address concerns about the proposed takeover of NYSE Euronext , throwing up another hurdle to the deal.

Weakness in banks and commodity stocks dragged Britain's leading share index lower on Monday as the protracted search for a Greek bond deal and concerns about economic growth kept investors nervous.

The federal judge overseeing MF Global Holdings Ltd's bankruptcy appointed one law firm to represent brokerage employees who claimed to be fired unfairly, ending a vitriolic battle for that role.

Stocks fell on Monday after Greece's efforts to reach a debt restructuring with creditors stalled, hampering European leaders' push to shift the market's focus to jobs and growth.

Swiss engineering group ABB has agreed to buy U.S. electrical components maker Thomas & Betts for $3.9 billion to ramp up its presence in the world's largest market for low-voltage products.

Carnival Corp said on Monday that it will take a hit between $155 million and $175 million against fiscal 2012 net income because of the wreck of the Costa Concordia.

U.S. consumer spending was flat in December as households put the largest rise in income in nine months into their savings, potentially signaling slower consumption early in 2012.

Carnival Corp. on Monday said it would take a $155 million to $175 million hit against net income in fiscal 2012, blaming the Costa Concordia cruise ship catastrophe.

Amazon.com is expected to report earnings Tuesday of 19 cents a share, down from 91 cents a share in the year earlier period, despite strong Kindle sales and a boom in e-commerce during the holiday season.

The EU's embargo on Iranian oil exports will add upward pressure to oil prices, OPEC's secretary general said on Monday, even though there is no shortage of oil on the market.

Asia's central bankers have yet another reason to hesitate now that the U.S. Federal Reserve looks likely to keep interest rates low for longer.

U.S. safety regulators have upgraded an investigation into almost 387,000 Jeep Liberty sport utility vehicles for potential inadvertent airbag deployment, increasing the possibility of a recall.

Philips swung to a fourth-quarter net loss as government cuts ate into its healthcare equipment business and a slowdown in European construction activity and consumer spending hit its lighting operations.

Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business.

Bank of America Corp is shaking up the leadership of its investment bank as it looks to find its footing in a difficult market environment.

Citigroup's chairman, Richard Parsons, is considering giving up the position to focus on other interests, the Wall Street Journal reported on Sunday, citing people familiar with the situation.

Stocks tumbled in early trading on Monday as concerns grew about the state of Europe's finances as Greece and Germany sparred over budget measures for Athens.

Now that Rick Santorum's daughter is recovering from pneumonia, the presidential candidate is returning to the campaign trail -- but not to Florida, even though its primary is Tuesday and 50 delegates hang in the balance.

A monthly report by Intuit found small business employment grew by about 50,000 jobs, or 0.2 percent, compared to 60,000 jobs last month.

Starbucks Corp will open its first coffee shops in India in August or September, a year later than originally planned, and aims to have 50 outlets by year-end through a tie-up with the Tata group, the country's biggest business house.