IBT Staff Reporter

A U.S. grand jury has indicted 55 people for participating in scams that tried to bilk the U.S. government out of more than $250 million in undeserved tax refunds, U.S. prosecutors in California said on Monday.

The big news from the Bluth Family Reunion panel at the New Yorker Festival was series creator Mitch Hurwitz's announcement of an Arrested Development return to TV before the long-anticipated movie.

Westinghouse Solar Inc expects to start posting profits next year after years of losses, as a deal to buy cheaper solar panels should help it cut prices and increase sales, its chief executive told Reuters.

The 2011 Nobel Prize for Physiology or Medicine, was awarded on Monday to Bruce Beutler and Jules Hoffmann jointly for their discoveries concerning the activation of innate immunity and the other half to Ralph Steinman for his discovery of the dendritic cell and its role in adaptive immunity.

Seated in the conference room of his wealth management firm in San Ramon, Calif., Rich Arzaga breaks out a few tools to explain the investment advantages of oil and gas drilling programs. He’s got a fine-point pen and a sketch pad — but alas, no milkshake a la Daniel Day-Lewis in “There Will Be Blood.”

The Supreme Court opened its new term on Monday and considered whether Medicaid recipients and medical providers may sue California for cutting reimbursement rates in the healthcare program for low-income Americans.

Bank of America Corp shares fell nearly 8 percent to their lowest level since March 2009 as investors worried that a slowing domestic economy and European debt woes would batter it and other banks.

Ernst & Young , the world's third-largest accounting and consulting firm, said its global revenues rose 7.6 percent in fiscal year 2011 as investments in emerging markets bore fruit.

ALMA, the world's most powerful ground-based telescope, officially opened for astronomers on Monday after a decade of planning and construction. The telescope under construction is already flooded with hundreds of project proposals as eager astronomers flock to explore the building blocks of the Universe.

Competitors are feeling the heat this week as Amazon's new Kindle Fire wowed consumers and undercut other tablets - in some cases, by hundreds of dollars. The Fire's low price point appears to be forcing down those of other tablets as well, with the HTC Flyer the second slated such product to be discounted at Best Buy this week.

Euro zone finance ministers and officials were meeting on Monday to discuss the European Financial Stability Facility bailout fund and the economic situation in Greece.

I will always have fond memories of Andy Rooney. He offered to sit down for a dual interview with Conan O'Brien. I thought two cantankerous comedians would make a good, interesting interview.

Hercules star Kevin Sorbo has revealed for the first time that while filming his hit series in 1997, he suffered three strokes that left him depressed and frustrated and with a bad attitude for the two years it took him to recover.

Manufacturing grew more quickly in September as production and hiring increased, suggesting that factories would help keep the economy from slipping into a new recession.

Michael Jackson's music, moves and imagination live again in Cirque du Soleil's new show The Immortal World Tour which opened in Montreal to screams, cries and a standing ovation on Sunday ahead of a 10-month North American tour.

Oct. 4 is fast approaching as the big day of the iPhone 5’s announcements draw closer. Thousands of predictions, mock-ups, and rumors continue dominating the Internet. Let’s stop for a second and think. Why do we want this new phone again?

Week two, day five, of Conrad Murray's involuntary manslaughter trial got under way Monday in Los Angeles, with emergency room doctors and Murray's girlfriends on the list of potential witnesses.

The Los Angeles Dodgers said a bankruptcy judge has unfairly limited the team in its fight to prove Major League Baseball overstepped its bounds, according to new court documents filed on Monday.

SAIC Inc , a provider of technical services to the U.S. Defense and Homeland Security departments whose results been bruised by contract delays, said its chief executive would retire next year for personal reasons, and its shares fell about 2 percent.

A city once thought to have less culture than a bowl of yogurt, Los Angeles is challenging that notion with an epic exhibition, Pacific Standard Time: Art in L.A. 1945-1980.

The Greek debt crisis is getting worse rather than better, Canadian Finance Minister Jim Flaherty said on Monday as he urged European leaders to take clear and decisive action to avoid a banking meltdown.

Oracle chief executive Larry Ellison unveiled new all-in-one data center products as the world's No.3 software maker steps up its move into the hardware market.

Yahoo Inc struck a deal with ABC to use the media company's news on its website and to jointly produce journalism projects as well as sell Web advertising.

French entrepreneur Bernard Tapie risks fresh controversy by leading a rescue of betting site Full Tilt Poker which U.S. prosecutors accuse of running a Ponzi scheme.

Stocks tumbled more than 2 percent on Monday on investor concerns Greece would fail to avoid a default on its debt and the effect that may have on European lenders and the global economy.

Factory activity expanded at a faster pace than expected in September as production and hiring increased, the latest sign of resilience in manufacturing despite faltering economic growth.

The 100-Year Starship Symposium blasted off in Orlando Florida with discussions ranging from what type of vehicle could star trek to procreating in space.

Shares of American Airlines parent AMR Corp fell more than 18 percent on Monday as analysts debated the prospects for a bankruptcy filing for the third- largest U.S. airline, which lags its industry peers.

On Saturday, Denmark became the first country in the world to introduce a fat tax, surcharge on unhealthy foods that are high in saturated fat for in hopes of curbing bad eating habits.