IBT Staff Reporter

U.S. stock indexes fell more than 1 percent in heavy volume on Monday after Standard & Poor's downgraded the credit outlook of the United States, adding to worries about the global economy after China moved to curb liquidity.

Wall Street fell more than 1 percent on Monday as sovereign debt fears on both sides of the Atlantic and China's monetary tightening hurt the outlook for global economic growth.

Citigroup Inc's first-quarter profit fell 32 percent as shrinking loans and poor trading results pressured revenue while expenses surged.

Wall Street fell more than 1 percent on Monday as sovereign debt fears on both sides of the Atlantic and monetary tightening by China hurt the outlook for global economic growth.

Demand Media Inc said Google Inc's new search algorithm hurt page views on some of its websites moderately, sending its shares down as much as 13 percent on Monday.

The European Union, responding to concerns over excessive state intrusion, is rethinking how it logs citizens' telephone calls and Internet use data for law enforcement purposes.

Higher gas prices weakened U.S. economic growth early this year in the eyes of one Federal Reserve official, while other policy-makers worried about the potential inflationary impact of energy price rises in remarks on Monday.

The International Monetary Fund on Monday said the policy response by emerging market economies to deal with a surge in capital inflows was insufficient and warned it could lead to a hard landing.

Wal-Mart Stores Inc said on Monday it agreed to buy social media company Kosmix for an undisclosed sum, as the world's largest retailer aims to win over more tech-savvy U.S. shoppers.

This past Thursday, Moody's Investors Service downgraded China's property sector from stable to negative.

Microsoft Corp urged the U.S. Supreme Court on Monday to make it easier to challenge some patents as part of its appeal of a record $290 million jury verdict for infringing a small Canadian software firm's patent.

For some 20 million Americans, tax season means powering up the computer, opening a TurboTax software program and, if all goes well, getting their finances in order.

With the April 18 tax filing deadline here, last minute filers can take advantage of the Internal Revenue Services' Ten Tips for Last-Minute Filers.

New locales, characters, and enemies are featured in the newest set of images.

Sony Corp has backed off on plans to boost its stake in its joint LCD production venture with Sharp Corp for now, the Nikkei business daily reported, citing company sources.

Japan's Earthquake in 2011 was the most devastating natural disaster to hit Japan after WWII. The 9.0-magnitude earthquake struck on Friday, March 11 2011 off the coast of T?hoku, which is located in the northern part of the country.

Flying fanatic Hansjoerg Wyss, chairman of Swiss medical device maker Synthes , has navigated his group into the flight path of Johnson & Johnson .

According to Concord Securities analyst Ming-Chi Kuo, the next iPhone will feature many of the same design considerations as current Apple products.

Iran is accusing German engineering company Siemens of aiding a cyber attack on the country's nuclear facilities, and is demanding legal action.

Gold prices rallied to a record high $1,497.20 an ounce on Monday after Standard & Poor's downgraded its credit outlook for the United States and as investors worried about debt in the euro zone and inflation in China.

Standard & Poor's on Monday downgraded its credit outlook for the United States, citing a risk that policymakers may not reach agreement on a plan to slash the huge federal budget deficit.

Check out scenes from the music festival which took place in California.

Oil fell sharply on Monday after ratings agency S&P cut its U.S. credit outlook to negative and OPEC ministers said high prices could place a major strain on consumer countries' economies.

General Electric Co, Google Inc, and two Japanese partners will invest about $500 million in a wind farm under construction in Oregon, the partners said on Monday.

Taxpayers have turned to electronic tax filing in record numbers ahead of the April 18 deadline, with 1 in 3 people in the U.S. choosing to do so, the Internal Revenue Service said Monday.

Mobile-phone users across the globe will be able to take a virtual walk up the aisle of Westminster Abbey ahead of Prince William and Kate Middleton's wedding.

Citigroup Inc's first-quarter profit fell 32 percent as shrinking loans and poor trading results pressured revenue while expenses surged.

During an interview with 60 minutes, Microsoft co-founder Paul Allen Allen talks about the early days of Microsoft, his battles with cancer, and what it was like to be made miserable by the richest man in the world.

The European Commission has ruled that member states open two radio frequencies to the newest generation of mobile devices to enable faster Internet use on the move.