IBT Staff Reporter

A local labor union chairman says tens of thousands in severance is a starting point for negotiations.

The S&P and Nasdaq ticked higher on Monday, though persistently below-average volume suggested that investor enthusiasm was waning after gains carried stocks to 2 1/2-year highs last week.

With the return of the UEFA Champions League, an ardent fan of the game can look forward to some classic encounters. The following is the schedule for the knock-out round.

Some win it, some lose.

Egypt's generals are asserting their command over the country following the overthrow of President Hosni Mubarak, preparing on Monday to ban strikes and to warn they will act against chaos and disorder.

Private equity firm Clayton, Dubilier & Rice said it would buy healthcare and physician services company Emergency Medical Services Corp for a discount price of $3 billion.

Egypt's stock exchange, shut since January 27 because of political unrest, will not reopen until Wednesday, a bourse official said on Saturday.

The following is a White House Transcript of President Barack Obama's remarks on the unveiling of his proposal for the U.S. 2012 fiscal year federal budget as delivered at Parkville Middle School and Center for Technology in Baltimore, Maryland on February 14, 2011.

Radiohead announced on their website Monday morning that they will release their new album The King of Limbs, this weekend.

HP gobbles up Massachusetts-based data analytics company Vertica for an undisclosed price.

U.S. stock index futures edged lower on Monday after Wall Street posted two straight weeks of gains that drove indexes to new multi-year highs and investors worried the market is overextended.

MGM Resorts International reported lower fourth-quarter earnings at most of its resorts in Las Vegas, the company's most important market, sending its shares down 3.2 percent.

Ventana Gold Corp said on Monday it agreed to a sweetened bid from Brazilian billionaire Eike Batista to buy the shares he doesn't already own and which values the company at around C$1.5 billion.

Gold rose above $1,360 an ounce on Monday as the dollar's retreat from highs versus the euro took some pressure off prices, with a second consecutive weekly price rise underpinning investors' confidence in the metal.

The United States has created a Twitter account in Farsi to communicate with social media users in Iran as Iranian opposition websites renewed calls for a rally on Monday.

Here's what you should know about the world's first glasses-free 3D phone.

As the big day is approaching for the royal wedding, Prince William and Kate Middleton announced the maid of honor, bridesmaids, best man and ring-bearers for their upcoming wedding.

Seeking to balance cuts while maintaining U.S. competitiveness and facing pressure from Republicans seeking even bigger reductions, President Barack Obama said on Monday his proposed 2012 budget was a down payment, on reducing the federal budget deficit, but said more work was needed to address long term challenges.

Changes headline and paragraph 1 to doubled investment

France played down hopes on Monday of clinching a deal at a meeting of G20 finance ministers this week that would push forward efforts to deal with global economic imbalances, although it said that remained its goal.

U.S. stocks were little changed on Monday as another day of persistently below-average volume suggested investors weren't willing to chase gains that carried stocks to 2 1/2-year highs last week.

AOL Chief Executive Officer Tim Armstrong doubled his stake in the company and now holds about $20 million in AOL shares.

Chinese telecom equipment maker ZTE is gunning to be among the world's top three telecom equipment makers in the coming years, a wireless executive told Reuters on Monday.

While NASA's spacecraft Stardust is due for a special Valentine day rendezvous with comet Tempel 1, a report from NASA states that procreation in space may not be possible due to radiation.

MGM Resorts International , which sources said last week plans to publicly list shares in its Macau operations at the end of February, reported a smaller loss in the fourth quarter. The casino operator posted a net loss of $139.2 million, or 29 cents a share, compared with a net loss of $433.9 million, or 98 cents a share, last year.

The U.S. economy is heading in the right direction and will pick up steam over the next two years, but high unemployment and low inflation still paint an unsatisfactory picture, New York Federal Reserve President William Dudley said on Monday.

BlackBerry maker Research in Motion is not alone in facing demands from governments for access to its data services, and it is just a normal part of the business, co-chief executive Jim Balsillie said.

Sunday night's Grammy Award show may have shocked a few viewers. While Arcade Fire winning the award for Album of the Year, was definitely a surprise, the night's biggest upset was Esperanza Spalding taking home the award for Best New Artist.

Android gaming is moving up to the next level, with smaller publishers such as Glu Mobile and Zoo Entertainment threatening to zap larger players including Electronic Arts .