IBT Staff Reporter

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Government mulls antitrust look at Apple: source

Regulators are considering an inquiry into whether Apple Inc violates antitrust law by requiring that its programing tools be used to write applications for the iPad and iPhone, a source familiar with the matter said on Monday.

Goldman subpoenaed in closely watched fund case

Lawyers for Goldman Sachs Group Inc have been served a subpoena to testify or provide information in a closely watched case of illegal insider trading allegations, according to a court document made public on Monday.

Australian dollar outlook 04/5/2010

The Australian Dollar is trading under USD0.9300 following Sunday's proposed tax changes by Australia's Federal Government, and yesterday's decision out of China, when it instructed banks to increase capital ratios in a bid to slow lending.

Red Sox owner, trader Henry sticks to plan

Futures trader John Henry, who parlayed a knack for blackjack into an investing system to make billions of dollars, says he is sticking with his trend-following strategy even though it has not worked well lately.

Daily forex forecast - 04/5/2010

Australian Dollar: The Aussie dollar bounced off support between 0.9220 and 0.9230 on several occasions over the last 24 hours to open this morning relatively unchanged from yesterday's close at 0.9260.

Goldman supboenaed in closely watched fund case

Lawyers for Goldman Sachs Group Inc have been served a subpoena to testify or provide information in a closely watched case of illegal insider trading allegations, according to a court document made public on Monday.

GMAC posts profit, plans name change

GMAC Financial Services, a lender majority-owned by the U.S. government, posted its first profit since the fourth quarter of 2008 as it starts to recover from billions of dollars lost on bad mortgages.

Factory growth rises, consumer spending up

Manufacturing registered its fastest pace of growth in nearly six years in April while data on construction and consumer spending pointed to further strength in the economy.

UAL, Continental to form largest airline

United Airlines parent UAL Corp will buy Continental Airlines Inc for $3.17 billion in an all-stock deal that will form the world's largest carrier and potentially prune excess capacity in the airline industry.

Investors skeptical of record Greek bailout

Markets reacted skeptically on Monday to a record 110 billion euro ($145 billion) bailout for Greece, with investors doubting it would offer more than temporary relief to a euro zone shaken by divisions and saddled with high debt.

BP shares extend slide as oil spill expands

Oil giant BP Plc's shares sank further on Monday as the oil spill in the Gulf of Mexico continued to grow and the U.S. Justice Department said it was taking part in an investigation of the disaster.

IBM buys cloud computing software firm Cast Iron

IBM said it bought privately held software company Cast Iron Systems to bolster its expertise in cloud computing, an increasingly popular technology that helps companies cut costs by enabling access to software online.

Investors skeptical on record Greek bailout

Markets reacted skeptically on Monday to a record 110 billion euro bailout for Greece, with investors doubting it would offer more than temporary relief to a euro zone shaken by divisions and saddled with high debt.

Australian scientists grow salt-tolerant durum wheat

The development of salt tolerant durum wheat with a yield percentage 25 per cent higher than its parent breed by CSIRO scientists, a significant breakthrough that proves to be beneficial for farmers in salt-affected regions in Australia.

Ford April U.S. sales rise 25 percent

Ford Motor Co posted a 25 percent increase in its April U.S. sales from a year earlier, propelled by record sales of its Fusion mid-size sedan and robust demand for trucks led by the F-series pickup.

Wall St gains on data, Greece package

U.S. stocks rose on Monday as data indicated the economy was on firmer footing, and details of a European financial rescue package for Greece provided a measure of relief.

Swine flu vaccine wastage ‘substantial’

A survey found 42 per cent of swine flu vaccine doses distributed to a number of GPs, end up fast in the bin, with more than 7.5 million of the 19 million doses of the vaccine bought by the federal government at a cost of more than $100 million could be wasted.

Six Flags emerges from bankruptcy

Theme park operator Six Flags Inc emerged from Chapter 11 bankruptcy on Monday after wiping out more than a billion dollars in debt by turning the company's ownership over to bondholders.

BP shares slip further after Justice Dept comment

Oil giant BP Plc's shares in New York sank further in early Monday trade after news that the U.S. Department of Justice was taking part in the investigation of the massive oil spill in the Gulf of Mexico.

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