IBT Staff Reporter

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Toll Bros CEO resigns, Yearley to replace

Bob Toll, co-founder and CEO of the U.S. luxury homebuilder bearing his name and best known for its McMansions, announced his resignation on Monday, and will be replaced by a non-family member who has worked for the company for 20 years.

Aussie doctors identify new disease

Kate Pulling, now aged 23 was found to be suffering from an unknown disease in which her immune system's signaling processes fails to function properly leading her to fall sick frequently. She has gone through hospital care for more than a decade as a result of the condition

Google faces probes over data it collected: report

Google Inc could face inquiries from German and U.S. officials following the company's disclosure it had mistakenly collected sensitive data sent by consumers over wireless networks, the Financial Times reported on Tuesday.

Waddell & Reed says not cause of May 6 flash crash

U.S. money manager Waddell & Reed Financial Inc said an internal analysis of trading activity indicates it was not the cause of the flash crash that briefly wiped out $1 trillion in market capital earlier this month.

Daily forex forecast - 18/5/2010

After holding up relatively well for the majority of the week compared to other major currencies the Aussie dollar finally gave way to a barrage of selling on Friday night falling below the 89 cent handle to a low near 0.8850 against the Greenback.

GM posts profit as production snaps back

General Motors Co posted a first-quarter profit as demand steadied in the United States and sales boomed in China, a turnaround the automaker said could put it on track for its first full-year profit since 2004.

Wall St recovers late to edge up on bargain hunting

U.S. stocks staged a comeback in late trading on Monday as bargain hunters snapped up beaten-down shares, setting aside concerns that efforts to tackle the euro-zone debt crisis could stifle the global economy.

Bank for the poor hopes to teach Wall St a lesson

Nobel Peace Prize-winner Muhammad Yunus opened a branch of his Grameen Bank in Manhattan on Monday, saying he hopes the big Wall Street banks just a subway ride away can learn from his success in granting small loans to the poor.

10 Reasons to Travel to Las Vegas Now

There is a reason they say that what happens in Vegas, stays in Vegas. It's true ... Sin City lives on the wild side and is a haven for overstimulation, but it's also an interesting cultural study and a lot of fun. If you've never visited the city, there's no time like the present to pack your bag and head to Vegas, baby! Here are 10 reasons to make the trip:

U.S. court won't hear Cablevision/FCC must-carry case

The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Nissan says Leaf electric car to cost under $38,100

Nissan, Japan's third-biggest carmaker, said on Monday its Leaf electric car would cost under 30,000 euros ($38,110) in most European countries after incentives offered by governments to push the new technology.

Court won't hear Cablevision/FCC must-carry case

The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Volkswagen's 4-month sales powered by China again

Volkswagen, Europe's largest carmaker, sold 2.34 million vehicles for an increase of 21 percent during the first four months, thanks mainly to China -- destination for more than a quarter of its volume.

Forex - Euro zone ministers seek debt control strategy

Shaken by a debt crisis that is hurting their currency, euro zone finance ministers met on Monday to discuss more effective fiscal discipline for now and the longer term. The talks were the first since euro zone governments hatched a $1 trillion plan a week ago in a bid to stabilise nervous financial markets and limit contagion risks after the financial rescue of Greece, the first in 11 years of monetary union.

Supreme Court won't hear Cablevision/FCC must-carry case

The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Platinum, palladium price woes for India car makers

Platinum and palladium prices have witnessed a big surge in the recent past following the increased demand from auto sector in China and India. But this surge has hit the auto makers in India in a big way. Due to increased competition in Indian market car makers in India have been witnessing a price war. At that time the steel prices soared and along with that platinum and palladium prices also shot up.

Homebuilder confidence at 2-1/2 year high in May

U.S. home-builder sentiment rose in May to the highest level in more than 2-1/2 years, boosted by a homebuyer tax credit and strengthening economy, the National Association of Home Builders said on Monday.

Treasury: 295,348 mortgages permanently modified

The number of struggling homeowners who were current on permanently reduced mortgage payments under the Treasury's housing rescue program grew to 295,348 in April from 227,922 in March, a Treasury report showed on Monday.

Lowe's dampens hopes for recovery in 2010

Home improvement chain Lowe's Cos issued a disappointing profit forecast for the rest of the year and dampened hopes for robust economic recovery in the second half, sending its shares down 3.8 percent.

U.S. sees record capital inflow

Foreigners bought a record $140.5 billion of long-term U.S. securities in March, the Treasury Department said on Monday, and more than doubled purchases of U.S. government bonds.

Sears and Kmart to offer cash-for-gold service

Sears Holdings Corp , which expanded its layaway program to help cash-strapped consumers pay for purchases during the recession, is now helping its customers exchange their jewelry for cash as gold prices soar.

WaMu amends bankruptcy plan

Washington Mutual Inc proposed an amended plan of reorganization on Monday that would return $7 billion to creditors, but it was unclear if the Federal Deposit Insurance Corp would support the plan.

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