IBT Staff Reporter

U.S. Treasury Secretary Timothy Geithner sent the following letter on May 16, 2011 as the U.S. hit its legal debt limit.

The Nasdaq sank, leading U.S. stocks lower on Monday, as investors sold recent winners in a sign of growing unease with pockets of the U.S. economy.

The U.S. stopped fully investing in a pair of U.S. federal employee retirement funds on Monday as the federal government reached its legal debt limit.

Manufacturing in New York State grew at its slowest pace in five months in May, while U.S. homebuilders remained deeply pessimistic as buyers stayed away from the market, data released on Monday showed.

Hillary, in an unprecedented act of hypocrisy, denounced China for human rights violations. This from a country that has violated the human rights of millions of victims in our own time in Iraq, Afghanistan, Pakistan, Yemen, Libya, Somalia, Abu Ghraib, Guantanamo, secret CIA prisons dotted all over the planet, in US courts of law, and in the arrests and seizure of documents of American war protestors.

U.S. stocks fell on Monday, led by the Nasdaq's decline after data showed weakness in the economy, underscoring views the market's recent rally is fizzling.

Endeavour makes its final trip into space; here is a look at the photos of the launch.

Euro zone finance ministers approved a 78 billion euro bailout for Portugal on Monday but as a condition of the deal insisted that Lisbon ask private bondholders to maintain their exposure to its debt.

Credit rating agency S&P has offered a settlement deal in an EU market abuse probe of financial identifier code pricing and data provider Thomson Reuters should work to resolve a similar case, the EU said on Monday.

With a gutsy shut-out performance on a wet, dreary day in Chicago, San Francisco Giants starting pitcher Ryan Vogelsong earned a spot in the hearts of Giants fans. Now, it is up to team management, whether or not to reward Vogelsong’s play with Barry Zito’s spot in the starting rotation.

Satellite television provider Dish Network Corp named Joseph Clayton as chief executive, succeeding founder Charlie Ergen, who will continue as chairman.

Brad and Angelina attend the screening for Brad's latest film, 'The Tree of Life' in Cannes.

Endeavour's final launch was successful and without issue.

Research In Motion shares neared a two-year low on Monday after the BlackBerry maker said it had recalled about 1,000 of its Playbook tablet computers due to an operating system flaw.

Bill Gross, manager of top bond fund PIMCO, said on Monday it was a misconception that the firm was betting against U.S. Treasuries, despite his concerns about the U.S. fiscal outlook.

A proposal by a group of Canadian banks and pension funds to take over the operator of the Toronto Stock Exchange offers cost savings and opportunities for international growth, the group said on Monday.

Barnes & Noble has required that the magazine dossier wrap its new issue is plastic to keep customers from opening the controversial magazine in stores.

Technology and consumer discretionary stocks tumbled on Monday as investors fretted about signs of weakness in the economy that are likely to put a halt to the stock market's run this summer.

A proposal by a group of Canadian banks and pension funds to take over the operator of the Toronto Stock Exchange offers cost savings and opportunities for international growth, the group said on Monday.

U.S. Dollar Gold Prices continued on Monday morning where they'd left off on Friday, zigzagging around $1495 while global stock markets fell along with major industrial commodities oil and copper.

Manufacturing growth in New York State slowed much more than expected in May to its slowest pace in five months, while U.S. homebuilders struggled as buyers stayed away from the market, data released on Monday showed.

Euro zone finance ministers are ready to back an EU/IMF bailout of Portugal at a Monday meeting overshadowed by the arrest of International Monetary Fund chief Dominique Strauss-Kahn on sexual assault charges.

AT&T Inc plans to launch a wireless security service for consumers next year to help combat a big rise in cyber attacks on mobile devices, a top executive said.

Real Madrid forward Cristiano Ronaldo equaled Spanish La Liga's scoring record for a single season on Sunday, but claimed he isn't obsessed with scoring.

The European Commission called on Monday for contributions to an EU strategy on cloud computing, saying the remote technology could bring savings as well as huge revenues to the 27-member bloc.

J.C. Penney Co Inc's efforts to remake itself as a more fashionable chain and raise profitability by shedding weak units paid off in the first quarter and the retailer raised its full-year profit forecast.

The Dow and the S&P 500 edged higher on Monday, recovering from a fall at the open, as a weaker dollar helped commodity-related stocks snap back from a selloff in the last session.

Ivan Stoiljkovic, 6 years-old, has a special talent. He can attract metalic objects.

Fashion legend Iris Apfel will launch a new line exclusively for Home Shopping Network in September. Travel expert Samantha Brown will sell her first-ever collection of luggage through the network in late May.