IBT Staff Reporter

Headphone maker Skullcandy Inc said it has bought Kungsbacka 57 AB for $18.6 million, giving it rights to directly sell products in most of Europe.

A high-level Republican aide on the Senate Finance Committee was named on Tuesday to the top staff position on the new congressional panel charged with finding at least $1.2 trillion in government savings over the next decade.

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.

Wisconsin Assembly Speaker Jeff Fitzgerald, a key Republican leader in the state's battle earlier this year over the union rights of public workers, plans to run for the Senate being vacated in 2012 by retiring Democrat Herb Kohl, his office said on Tuesday.

Stocks rose more than 1 percent on Wednesday, extending the previous day's run on hopes the Federal Reserve would act again to boost the economy after a new batch of mostly soft economic data.

- Google Inc's blockbuster acquisition of Motorola Mobility Holdings Inc will bring an unusual stable of tax and accounting benefits to the search-engine giant, already one of Corporate America's most savvy users of such perks.

Gaga is known for being a vocal lesbian, gay, bisexual, transgender advocate-perhaps the most active in the pop world. Could her gender bending role be interpreted as a message or statement about sexuality?

One of Europe's hottest phones, the Samsung Galaxy S2, will be released in Mid-Sept to U.S. consumers.

And while customers prepare for the release of Galaxy S2 in the U.S., reports coming from IFA Germany revealed that Samsung is planning to unveil the Galaxy S II LTE and Galaxy Tab 8.9 LTE version this week.

The Financial Times has pulled its iPad and iPhone apps from Apple's App Store after losing a battle to keep control of customer data obtained through subscriptions.

Starting September 1, First Class passengers on select American Airlines flights will be offered the new “turndown service” that includes slippers, pajamas and high-end toiletries.

The pace of U.S. private sector job growth slowed in August for the second month in a row, but factory activity in the Chicago area continued to expand, suggesting the economy would dodge a recession.

Tropical Storm Katia strengthened rapidly on Wednesday, approaching hurricane status, but it was too soon to tell whether it would threaten land in the Caribbean or the United States.

Samsung's flagship Galaxy S2, touted as the next iPhone killer, is rolling out a white version, again, setting its sight on countering Apple's white iPhone.

Texas juror Jonathan Hudson has plead guilty to contempt of court after trying to befriend the defendant of the case, Courtney Downing.

The United States could be worse than 40 other countries when it comes to infant mortality. New research done by the World Health Organization (WHO) shows that babies under four weeks old account for 41 percent of child deaths worldwide.

Bailiffs raided BP's Moscow offices Wednesday, causing new problems for the British oil company a day after ExxonMobil signed a deal that ended BP's hopes of developing Arctic offshore oil fields with Russia.

Stocks extended gains on Wednesday after data showed new orders for factory goods rose more than expected in July.

Here are Indicators that the morale of the American consumer is at its lowest in years.

The International Association of Athletics Federations (IAAF) will not be rushed into revising the controversial false-start rule that sent Usain Bolt crashing out of the world championships 100 meters, a top official said on Wednesday.

The New York Yankees enjoyed a rare success over bitter rivals the Boston Red Sox on Tuesday, the 5-2 victory in a hot-tempered affair enabling the visitors to tighten the battle for supremacy in the American League East.

Carrefour , Europe's No.1 retailer, warned 2011 profits would slump 15 percent as it cuts prices in a bid to reverse falling market share and tackle an increasingly tough economic environment.

Serena Williams was on her best behavior and ominously close to her top form when she made her long-awaited appearance at the U.S. Open Tuesday.

New Jersey Transit has restored Northeast Corridor service, finally ending more than three days of suspended service due to Hurricane Irene. Officials warned riders to expect delays of up to 45 minutes because of ongoing signal problems from flooding in Trenton.

Global investors slashed their holdings of equities below 50 percent this month and piled into cash, reflecting what was lining up to be the worst August for world stocks since 1998.

Roger Federer and Rafa Nadal are seemingly not the only ones sick of the sight of Novak Djokovic and his domination of men's tennis.

George Clooney explores the dirty side of politics in The Ides of March, the opening movie at the Venice film festival in which an aide to a Democratic presidential candidate learns how dispensable ideals can be.

Euro zone countries are discussing ways to charge fees on any collateral Greece would use to back bailout loans, an approach that could resolve a nasty row over a second rescue package, Austrian Finance Minister Maria Fekter told Reuters.

Husband and wife songwriting team Marilyn and Alan Bergman have won three Academy Awards and two Grammys, but their biggest reward in a long career just may be writing for Barbra Streisand.