IBT Staff Reporter

U.S. Rep. Gabrielle Giffords (D-AZ), who sustained a gunshot to the head during a Congress on Your Corner event in Tucson that killed six people, including federal judge John Roll, and injured 14 others, on Saturday, is still in critical condition but is expected to recover.

Rep. Gabrielle Giffords, D-AZ, continues to follow basic commands from physicians and there has been no progression on the swelling in her brain on Tuesday, the third day after surgery following a point-blank shooting incident on Saturday.

Duke Energy's planned $13.7 billion purchase of Progress Energy Inc is the biggest test yet of whether regulators will allow utilities to merge and fortify their finances for huge new investments.

Adult magazine publisher Playboy Enterprises Inc. is about to go private as founder Hugh Hefner has received the nod from the board to buy the company.

Morgan Stanley said it would spin off its proprietary trading unit as an independent firm by the end of 2012.

Chief Executive Steve Ballmer has ousted the head of Microsoft Corp's third-largest unit, marking the latest in a series of high-level departures as the software company tries to regain its leadership in the technology sector.

The Federal Reserve is turning over a record $78.4 billion to the U.S. Treasury Department after its swollen securities portfolios generated big profits in 2010, the central bank said on Monday.

The biggest U.S. banks have stepped away from the brink of failure, but fourth-quarter earnings will likely show the financial crisis continues to weigh on profits.

Stocks recovered most of their early losses in light volume and ended slightly lower on Monday as prospects for strong earnings helped counter fears Portugal would be forced into a bailout.

Major technology companies should manage to keep up sales and profit growth in 2011, but economic troubles in the United States and Europe could temper results.

A rumor -- discovered to be a hoax -- that Facebook would shut down in March briefly lit up the blogosphere. There are reasons why a moment's thought shows this is wrong.

The Securities and Exchange Commission brought civil insider trading charges against the co-founder of a one-time $900 million hedge fund as part of the ongoing Galleon hedge fund probe.

The U.S. Patent and Trademark Office (USPTO) issued a record 219,614 patents in 2010, with IBM grossing the highest number of patents followed by Samsung and Microsoft.

Corrects headline and 4th paragraph to make clear Market Street not named as a defendant

Stocks recovered most of their early losses in light volume and ended slightly lower on Monday as prospects for strong earnings helped counter fears Portugal would be forced into a bailout.

Alcoa Inc reported a jump in fourth-quarter profit on Monday, beating Wall Street estimates as aluminum prices and demand rose after two years in the doldrums.

Israeli Prime Minister Benjamin Netanyahu surprised his Facebook followers on Monday by posting a copy of his government pay stub, letting everyone know he takes home just 15,000 shekels ($4,200) each month.

The biggest risk to U.S. Rep. Gabrielle Giffords, D-AZ, is brain swelling, as she remains in critical condition on Monday, after a Saturday shooting.

The “Congress on Your Corner” event on Saturday morning, Jan. 8 in Tucson, Arizona was at least the second such constituent event hosted by U.S. Rep. Gabrielle Giffords that was attended by Jared Lee Loughner, the 22-year-old Tucson resident who is charged by federal authorities with shooting Giffords, and killing U.S. District Judge John Roll and Gabriel Zimmerman, a Giffords’ aide, according to the FBI.

The U.S. Consumer Product Safety Commission (CPSC) is setting up its first overseas office for consumer product safety after failing to persuade makers of defective Chinese drywall to compensate affected U.S. homeowners.

Danish food ingredients company Danisco received several takeover offers but does not expect anyone to top its $5.8 billion deal with DuPont, Danisco's chairman said on Monday.

DuPont's $5.8 billion bid for Denmark's Danisco A/S marks a major bet by the U.S. chemicals company on the nascent biofuels market and the profitable food additive sector.

The head of Microsoft Corp's third-largest unit is to leave this summer, marking the latest high-level departure from the world's largest software company, which has seen its leadership of the technology sector fade over the past decade.

Socks cut losses on Monday as the euro gained ground against the U.S. dollar, reflecting reduced worries after calls for Portugal to seek a rescue from its debt crisis.

Two dueling themes emerged as top executives from the world's carmakers gathered on the first day of the industry's annual showcase event -- the Detroit auto show.

Human Genome Sciences Inc said it is aiming to achieve multi-billion dollar revenue by 2015 as it awaits approval for its experimental lupus treatment Benlysta in March.

The Gold Price in Euros whipped within 1.5% of last month's all-time record highs in London trade on Monday, as weaker-economy Eurozone bonds fell sharply on a raft of bail-out rumors and leaks.

Corporate earnings promise to beat analysts' expectations for the just-completed fourth quarter, but translating the good news into strong stock gains will be challenging for investors.

U.S. retail sales rose 4 percent during the 2010 holiday season, and should rise 2.2 percent in the first quarter of 2011, research firm ShopperTrak said on Monday.