IBT Staff Reporter

Bank of America Corp agreed to pay $2.8 billion to mortgage finance giants Fannie Mae and Freddie Mac to settle claims over soured mortgages, signaling the bank may be closer to containing its out-sized housing losses.

Stocks may have kicked off 2011 with a no-holds-barred surge but anyone predicting a sustainable rally through January may be overly optimistic.

As the upcoming Consumer Electronic Show at Las Vegas gains traction, reports confirm that a slew of laptops will inundate the conference. Most of the launches were due at the end of 2010 but the delay can be attributed to the delay in the launch of Android version Honeycomb, which is touted to be more suited for tablets. While reports suggest that the iPad 2 will arrive in April, most of the companies will take the plunge at the CES to test the market before iPad comes withe serious competition...

Economic activity in the U.S. manufacturing sector continued to grow for the 17th consecutive month during December, according to a survey report on Monday.

Time Warner Cable and Sinclair Broadcast Group announced that on New Year's Eve that they reached an extension agreement that will keep the big four networks on through Jan. 14.

Wall Street stocks surged more than 1 percent as the new trading year kicked off on Monday and the rally of late 2010 resumed on encouraging signs about the economic outlook and a seasonal effect.

The U.S. real estate market is improving, at least for foreign investment dollars, according to the Association for Foreign Investment in Real Estate, or AFIRE.

U.S. manufacturing grew at its fastest pace in seven months in December, extending a recent run of encouraging economic data and suggesting that expansion of the world's biggest economy will accelerate in 2011.

iRobot Corp. (NASDAQ: IRBT) is set to unveil its newest and the world's smallest floor cleaning robot - iRobot Scooba 230 - making one of people’s least favorite household chores, cleaning the bathroom, a whole lot easier. Just press the Clean button and the robot does the dirty work.

Toshiba Corp is making its foray into the tablet war, offering a 10-inch device it says will be comparable in price to Apple's iPad.

Wall Street stocks launched the new trading year with gains of 1 percent or more on Monday, extending the late-2010 rally on optimistic signs about a global economic recovery.

Construction spending rose more than expected in November to touch its highest level in five months, a government report showed on Monday, a further sign that the economic recovery was gaining momentum.

Bank of America Corp agreed to pay Fannie Mae and Freddie Mac $2.8 billion to settle claims that it sold the mortgage finance companies bad home loans, signaling that the bank may be closer to containing its outsized housing losses.

Oil climbed above $92 on Monday to its highest since October 2008, spurred on by expectations economic recovery will boost energy demand and as market bulls set their sights on $100 a barrel.

The manufacturing sector grew for a 17th straight month in December, adding to recent evidence that a recovery in the economy was picking up steam, according to an industry report released on Monday.

Barnes & Noble Inc reported strong preliminary holiday results at its superstores, led by the popularity of its Nook e-readers, and shares rose more than 5 percent.

U.K. implemented the biggest budget cuts seen since the World War II in an attempt to reduce the massive budget deficit but the hidden costs of the drive could offset much of the savings from the austerity drive.

Vizio, the maker of low-cost LCD TVs, is reportedly planning to launch an inexpensive Android smartphone and tablet computer, challenging Apple and Research in Motion.

Prime Minister Lee Hsien Loong says continued improvement necessary to compete with Asian and European front runners

U.S. private employers have recorded 11 consecutive months of job gains, yet the number of people who are so discouraged that they have given up searching for work stands at an all-time high.

The prospects for cooperation between the United States and China in space are fading even as proponents say working together in the heavens could help build bridges in often-testy relations on Earth.

India’s trade body National Association of Software and Services Companies (Nasscom) has refuted public perception in the US that outsourcing jobs to India are contributing to job losses for US companies and that free trade agreements were responsible for America’s current economic woes.

Stocks rose on Monday, lifting the Nasdaq 100 to a 10-year high, as investors bet a 2010 rally would continue in the new year and factory and housing data pointed to a strengthening recovery.

U.S. software firm iGate's deal with Apax Partners for a majority stake in India's Patni Computer Services is still on the table but has been delayed due to procedural issues, a source with direct knowledge of the matter said on Monday.

U.S. stocks were set for a higher open on Monday as returning investors bet a 2010 rally would continue in the new year and Chinese factory inflation data tempered concerns over increased monetary tightening.

New York Governor Andrew Cuomo is seeking a one-year salary freeze for state workers as the first step after assuming office on Jan 1, 2011.

Shares in American International Group could drop this year as the U.S. government sells stock it owns in the insurer, Barron's reported on Sunday.

Chelsea were denied a victory at Stamford Bridge as Ciaran Clarke headed home a stoppage time equalizer for Aston Villa to level the scores 3-3 in Sunday's English Premier League fixture.

TVS Motor Company has reported 42 percent growth in December sales, as compared to the same period last year. The company sold 171,790 units in December 2010 against 120,913 units in the same month of the previous year.