IBT Staff Reporter

The snowstorm in the Northeastern U.S. that dropped several inches of snow was the result of a combination of an unusually cool Pacific Ocean and smaller than normal pressure differences between the North and South Atlantic.

Ally Financial Inc, the lender formerly known as GMAC, on Monday said it agreed to pay $462 million to Fannie Mae to avoid having to repurchase poorly underwritten mortgages sold to the housing finance giant.

The telecom service provider makes a documentary about the dangers of texting and driving.

Microchip designer Advanced Micro Devices said it would have a non-cash gain in the fiscal first quarter of 2011 related to the dilution of its equity interest in GlobalFoundries.

Bailed-out insurer American International Group took another step toward winding down its U.S. government support on Monday by securing $4.3 billion of bank credit lines, and company shares surged.

Amazon says tablets aren't cutting into sales of the Kindle.

U.S. stocks closed little changed and the dollar lost ground to the euro in thin trade on Monday, buffeted by China's Christmas Day interest rate hike and a blizzard that pounded the northeastern United States.

The top apps for keeping your New Year's resolution.

Wall Street erased earlier losses and ended little changed on Monday as investors shrugged off a surprise weekend interest rate hike from China's central bank.

Key patent lawsuits that punctuated the smartphone industry in 2010.

A major snowstorm on the East Coast kept many shoppers home just after Christmas, casting a pall on the final act of the holiday sales season.

Recent collaborative study by Wall Street Journal and Indeed.com shows spurt in hiring across companies in the US

On the second day of the fourth Ashes test at Melbourne, England took control with a brilliant century from Jonathan Trott which gave the visitors a 346 lead with five wickets remaining at the end of the day's play.

iWorks advertises itself as an Internet marketing firm. The Federal Trade Commission calls it an Internet scamming operation and is taking the company, and its 51 shell companies, to court to shut it down.

A set of NASA images from the rover Opportunity have been used to make a film of an eclipse as seen from Mars.

India’s top three software services companies Tata Consultancy Services (TCS), Infosys Technologies Ltd and Wipro Ltd are all set to award their employees promotions and reward them with bigger hikes and perks come 2011 to retain best talent amidst competition from their rivals.

An international research team has sequenced the genome of the woodland strawberry, opening the door for breeding tastier, hardier varieties of the berry and other crops in its family. Separately, another team sequenced the DNA of a variety of Theobroma cacao, a tree considered to produce the world's finest chocolate.

H&R Block Inc, the largest U.S. tax preparer, said it will not be able to help customers borrow money against their tax refunds in the coming months, as the bank that was supposed to provide the loans is under a regulatory directive not to.

Shares of Tesla Motors fell about 13 percent on Monday, the day the electric carmaker's lock-up period expired, flooding the stock market with shares.

U.S. stocks were slightly lower on Monday in a thinly traded session after a surprise interest rate hike from China's central bank over the weekend.

Charles Schwab, the chairman and founder of Charles Schwab Corp , is recuperating from successful heart valve replacement surgery, the largest U.S. discount brokerage said on Monday.

Shares in online video rental service Netflix Inc have gotten too expensive and are poised to drop amid battles with Hollywood studios over licensing fees, Barron's said in its latest issue.

China's Christmas Day interest rate rise and a severe blizzard that blanketed the northeastern United States left U.S. share prices weak and the U.S. dollar lower in thinly traded markets on Monday.

In October 2003, Russian security agents' seized the country's richest man at gun point on the tarmac of a Siberian airport. ''Weapons on the floor or we'll shoot!'' the agents shouted. Then the man was dragged away to spend years in solitary confinement at a Soviet-era labor camp in the Chita region of eastern Siberia. His assets were seized by the state; his opulence was wiped out and his family left almost fractured.

As U.S. retailers get ready to box up their Christmas decorations after a better-than-expected holiday season, many shoppers plan to join them by putting their wallets back in storage.

H&R Block Inc has said HSBC Holdings Plc will not provide funding for the no.1 U.S. tax preparer's refund-anticipation loans, or RALs, after U.S. regulators ordered the lender to terminate the contract.

H&R Block Inc said a U.S. regulatory directive to block HSBC Holdings from funding the tax preparer's refund-anticipation loans will hamper its plans to roll out alternative products the next tax season.

A full-blown blizzard pounded the northeast from yesterday into today, making roadways hazardous, shutting down transit systems and causing at least one state government to declare a state of emergency.

Australian captain Ricky Ponting has been fined 40 percent of his match fee for his prolonged argument with umpire Aleem Dar during day two of the fourth Ashes test against England at Melbourne.