IBT Staff Reporter

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Skin cancer drug news boosts Bristol shares

Bristol-Myers Squibb Co's shares rose more than 8 percent on Monday after news over the weekend that its experimental drug ipilimumab extended survival in patients with deadly skin cancer.

Burger King sees Q4 EPS hit due to currency

Burger King Holdings Inc said on Monday it expects unfavorable foreign exchange rates to reduce earnings for the current quarter by 1 to 2 cents per share, and to have a neutral to slightly negative impact on full-year results.

EU seeks safety net deal, Germany sets cuts

European finance ministers sought to calm nervous markets Monday by nailing down details of a massive financial safety net for the euro zone as Germany unveiled new budget cuts it hopes will set an example for its partners in the bloc.

Countrywide settles FTC charges for $108 million

Countrywide Financial Corp, the mortgage lender that became synonymous with risky lending practices, has agreed to pay $108 million to settle government charges that two Countrywide mortgage servicing companies misled and overcharged consumers.

Commission serves Goldman with subpoena

A government commission investigating the financial crisis has issued a subpoena to Goldman Sachs Group Inc for failing to comply with a request for documents and interviews in a timely manner, the commission said on Monday.

The Wizard of Westwood: A Leader for the Ages

Few in the arena of sports and leadership have had such a lasting impact on and off the court than legendary basketball coach John Wooden. At the age of 99, just four months shy of his 100th birthday, John Wooden has passed away.

Conference board jobs index rises in May

A gauge of the job market rose in May for the ninth straight month, indicating that a disappointing May jobs report released by the government last week may be a one-off, a research group said on Monday.

Prudential defends Asia bid amid shareholder anger

British insurer Prudential's management sought to ease shareholder anger over its botched bid for AIG's Asian unit at a meeting on Monday, unveiling bumper sales and apologizing for the misadventure's huge costs.

EU seeks accord on safety net

European finance ministers sought to calm nervous financial markets on Monday by nailing down details of a massive financial safety net for the euro zone and working toward stricter budget discipline rules.

Chrysler recalls nearly 600,000 vehicles

Doors that could catch fire, brakes that could fail and accelerators that could stick have caused Chrysler Group LLC to recall nearly 600,000 vehicles involving five models in the United States.

Changan to make Ford car under own brand: sources

Chongqing Changan Automobile is in talks with partner Ford Motor to produce a mid-sized car in China using Ford technology but carrying a Changan brand, as they move to take their partnership to a new level.

NY Fed staffer: Public stress tests can be calming

Stress tests that the United States conducted on its banks last year show releasing the results of such tests can be a calming force for markets, a senior Federal Reserve Bank of New York staffer said on Monday.

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