IBT Staff Reporter

When you think of Bono or Lady Gaga, the term Silicon Valley entrepreneur hardly springs to mind.

Top U.S. lawmakers dueled with diverging debt plans on Monday that offered little compromise and raised the threat of a ratings downgrade and national default as President Barack Obama prepared to address Americans on the impasse.

Stocks dipped on Monday as lawmakers remained in a standoff over raising the debt ceiling to avoid default, but investors were convinced a compromise will be reached before next week's critical deadline.

The worst drought in 60 years in the Horn of Africa has sparked a severe food crisis and high malnutrition rates, with parts of Kenya and Somalia experiencing pre-famine conditions, according to a United Nations report.

Chinese search engine Baidu Inc reported quarterly revenue that beat market expectations after advertisers shrugged off fears of a Chinese economic slowdown, pushing its shares up 7 percent after the bell.

Many airlines have raised fares in recent days to take advantage of a lapse in U.S. ticket tax collection after Congress failed last week to fully fund the Federal Aviation Administration budget, but passengers are not likely to notice any price difference.

A court has given preliminary approval to a deal settling claims that American International Group Inc under-reported its workers' compensation market share to get out of tax obligations.

Sarah Palin is trending, whether it is glamor, charm or anything that gains grounds in today's world. But it will not undermine her candidacy for a presidential run in the United States, as long as her attitude and intent to work in the best interests of the people are kept intact.

The Washington Redskins may be targeting one of the best free agent wide receivers on the market in New York Jets' Santonio Holmes.

All the wheels are rolling with Christopher Nolan's latest Batman trilogy The Dark Knight Rises. The recent new casting of Christopher Judge has had fans guessing which role he will play. No confirmation yet whether he will portray a villain or hero in an already exciting list of Batman characters in production. The latest teaser trailer showcased more images of the dark knight along with his arch nemesis Bane.

NASA has chosen a landing site for its next Mars rover with the goal of seeking more signs of life and historical water on the planet. Scientists have long known that Mars is home to a few patches of carbonates -- minerals that form readily in large bodies of water -- but they suspect that many more carbonates may be hidden beneath layers of the Red planet.

So far, there have been 97 reported cases of illness resulting from an outbreak of Salmonella Agona, ten of which involved individuals being hospitalized, the U.S. Food and Drug Administration said.

Options investors appear to be betting that Netflix Inc , already up more than 60 percent this year, will continue its rise after its earnings report later in the day.

Stocks dipped on Monday as lawmakers remained in a standoff over raising the debt ceiling to avoid default, but investors were convinced a compromise will be reached before next week's critical deadline.

Worried about its rising healthcare costs, General Motors Co tried several years ago to buy a bar adjacent to its Janesville, Wisconsin assembly plant so it could eliminate a source of junk food and alcohol.

A post mortem examination on British singer Amy Winehouse, who died at the weekend, failed to determine how she died and more toxicology tests are being carried out, with the results expected in two to four weeks, police said on Monday.

The National Football League (NFL) and players have agreed to terms on Monday to end their four-month-old lockout and ensure America's most popular sport will go ahead as planned next season.

AOL Inc's top advertising executive will leave the company as part of a revamping designed to turn around its advertising sales, AOL's chief executive told employees on Monday.

Lawmakers were locked in a standoff on Monday over dueling debt plans that offered little prospect for compromise, increasing the threat of a ratings downgrade and national default that could sow chaos in global markets.

At the once-feared commodity trading arms of Goldman Sachs and Morgan Stanley , the pressure to do better in the second half of this year has never been more intense.

Two fake Apple stores shut down in Kunming while three others get to stay open.

Not for the first time, asset managers may be playing a high-risk game as they face the threat of a U.S. debt default without concrete contingency plans.

Policymakers worldwide oscillated between hope and confidence on Monday that U.S. lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets.

Whether you are traveling for a few hours or a few days, these Apple iPhone apps are sure to keep your trip headed in the right direction.

The autopsy conducted today on Amy Winehouse was inconclusive in determining the cause of the singer's death and officials now await the results of toxicology tests, Sky News reported.

This celebration of Brazilian culture past and present draws people from across the country and the world.

Chrysler Group LLC and the United Auto Workers union expect to reach a deal on a new labor contract without resorting to arbitration, officials for the company and union said on Monday.

Stocks dipped on Monday as lawmakers were locked in a standoff over dueling debt plans, but growing optimism over an eventual deal helped to limit losses.

Stocks fell on Monday as continued political sparring in Washington over the debt ceiling heightened worries of a U.S. rating downgrade, sending world equities lower.