IBT Staff Reporter

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.

Toyota Kirloskar Motors on Monday said that it has registered a marginal growth of 5.47 percent in sales at 6,359 units in December.

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.

Intel Corp's new microchips, touted as its biggest-ever leap in processing power, include built-in content protection to make it safer for Hollywood studios to offer premium movies to consumers over their personal computers.

U.S. stock index futures rose on Monday on hopes the rally will continue in the new year as economic conditions continue to improve and as Chinese factory inflation tempered concerns of more monetary tightening.

Bank of America Corp agreed to settle outstanding claims on poorly underwritten mortgages it sold to government sponsored entities Fannie Mae and Freddie Mac, and said it will put aside $3 billion in the fourth quarter related to the claims.

Sock index futures rose on Monday, signaling a belief by investors the rally will continue in the new year as economic conditions continue to improve.

General Motors India on Monday said its sales grew by 2.54 percent to 8,468 units in December, 2010, from 8,258 units in the same month of the previous year.

Hyundai Motor India Ltd on Thursday achieved a milestone by reaching the production of 600,000 units, the highest since inception in a calendar year.

Hyundai Motors India Ltd. (HMIL), the second largest car maker and the largest car exporter in the Indian market, sold a total of 47,228 units during this month as compared to 47,217 units during the same period year ago.

Tata Motors' total sales (including exports) of commercial and passenger vehicles in December 2010 were 67,441 vehicles, a growth of 31% over 51,627 vehicles sold in December 2009.

Michelle Rhee talks of ineffective and arcane human capital policies in education on NBC

Chinese officials have faith in Spain's financial system and will continue to take part in government debt auctions, China's Vice Premier Li Keqiang wrote in an editorial in El Pais on Monday.

Social networking site Facebook is now valued at $50 billion taking it ahead of companies eBay, Yahoo and Time Warner as it raised $500 million from Goldman Sachs and a Russian investor.

Some iPhone users in Asia and Europe complained of malfunctioning alarms on the first working day of 2011, even after Apple reassured users that its phones' built-in clocks will work from Monday.

Borrowing by small U.S. businesses jumped in November to the highest level in more than two years, PayNet Inc reported on Monday, as entrepreneurs invested in their businesses and did a better job of paying existing debts.

Stock index futures pointed to a stronger start for Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq up 0.5 to 0.7 percent by 0913 GMT (4:13 a.m. ET) on the first trading day of the year.

Some iPhone users in Asia complained of malfunctioning alarms on the first working day of 2011, even after Apple reassured users that its phones' built-in clocks will work from Monday.

U.S. software company iGate said it canceled a press conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in India's Patni Computer Services for more than $900 million.

Asian factory output powered ahead in December to underline emerging markets' lead in the global recovery although data showed an increasing inflation threat in the region even as growth is tepid in developed economies.

U.S.-based Qualcomm Inc will invest nearly $1 billion in Taiwan this year to build a display plant to tap growing demand for new portable devices including electronics reading devices.

Oil extended its rally above $91 a barrel on Monday on optimism the global economic rebound is gathering momentum, which could drive demand growth and send prices above $100 later this year.

Nintendo Co has warned children six years old or younger should not play games in 3D mode on a new 3D-capable handheld game player slated for an early 2011 debut, citing possible health risks.

Hyundai Motor Group <005380.KS> and its affiliate Kia Motors <000270.KS> aim to boost vehicle sales by 10 percent this year after robust December sales, as the sector shows a gradual recovery, led by China and the United States. Hyundai Motor shares rose 2 percent on Monday, while shares in Kia Motors jumped 3.75 percent in a broader market <.KS11> up 0.9 percent, with Hyundai ex...

Book distributor Rowman & Littlefield Publishing Group Inc temporarily stopped shipping books to Borders Group Inc after the bookstore chain said it would delay payments to some vendors, The Wall Street Journal reported on Sunday.

Google Inc has approached several magazine publishers about creating a digital newsstand, in a move that could open a new front in the Internet company's rivalry with Apple Inc, according to a news report.