IBT Staff Reporter

Plans from Wells Fargo & Co and Citigroup to repay taxpayer funds will put the U.S. government on track to reduce its bailout investments in banks by more than 75 percent, while earning a healthy profit for the U.S., U.S. Treasury Secretary Timothy Geithner said on Monday.

Goldman Sachs Group Inc is being sued by an institutional investor who claims the firm is preparing to pay out improper bonuses.

World leaders including French President Nicolas Sarkozy, Russian Prime Minister Vladimir Putin and British Prime Minister Gordon Brown as well as Pope Benedict XVI sent condolences on Monday to Italian Prime Minister Silvio Berlusconi who was attacked Sunday at a rally in Milan.

A U.S. bankruptcy judge said on Monday that she would allow billionaire Carl Icahn and real estate titan Donald Trump to battle for control of casino operator Trump Entertainment Resorts Inc .

Craigslist's chief executive told a court on Monday that an executive with eBay, a minority shareholder, warned him to improve relations with eBay's then-CEO Meg Whitman because she could be a monster and an Evil Meg when frustrated.

Wells Fargo & Co said on Monday it will repay the entire $25 billion it received from the government under the Troubled Asset Relief Program, after selling $10.4 billion of common shares.

A British newspaper said on Monday that Iran is working on testing a final component to build a nuclear bomb.

Chicago Mercantile Exchange lumber futures closed steady to slightly higher on Monday in continued light dealings with rolling of long January positions into May accounting for the bulk of volume, traders said.

Google Inc plans to sell two versions of its own-branded cell phone: one with a service contract with T-Mobile USA and another that is unlocked, a source familiar with the matter said.

Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing about $20 billion of capital, as the bank looks to end the executive pay restrictions that came with the funds.

Gold futures closed higher on Monday, as the U.S. dollar fell after Abu Dhabi pledged to bail out Dubai, which increased the investment appeal in bullion.

Cuts in 2009 pay and bonuses for Citigroup's top 100 executives ordered by the Obama administration's pay czar will remain in place despite the bank's deal to exit the government's bailout program, a Treasury official said on Monday.

Cori Rist, another alleged Tiger Woods mistress spoke on Today and apologized to Elin Nordegren for the pain she caused.

A leading financial consultant has suggested that recent signs of a return to risk-taking could prove to be good news for people Buying Gold.

Gold prices made a moderate advance on Monday after news that Abu Dhabi agreed to back some of Dubai's debt pressured the dollar and lifted higher-yielding currencies such as the euro.

With aggressive AUD/JPY selling following the release of Japanese economic data the AUD/USD exchange rate fell from its early Monday morning high around 0.9120 to trade as low as 0.9055 during the Asian afternoon.

U.S. companies were still getting H-1B visa petitions even as they cut jobs, according to data from the U.S. Citizenship and Immigration Service (USCIS) that shows who received the visas in the 2009 fiscal year.

Saks Inc said on Monday it was ending changes it made to its shareholders rights plan last year when it sought to prevent a potential hostile takeover by Mexican billionaire investor Carlos Slim Helu.

XTO Energy Inc's Chairman Bob Simpson may receive around $70 million in compensation after the company's deal with Exxon Mobil Corp closes, according to regulatory filings.

Corrects 14th paragraph to show R.H. Donnelley supplies content for and does not operate YellowPages.com

Exxon Mobil Corp plans to buy XTO Energy Inc for about $30 billion in stock, in a move that thrusts the U.S. energy giant to the forefront of North America's fast-growing natural gas industry.

A key ingredient for any climate change deal in Copenhagen this week will be a money pledge by rich countries to help poor ones fight global warming.

Citigroup laid out a plan to repay the money it owes the U.S. government, including issuing about $20 billion of capital, as the bank looks to end the executive pay restrictions that came with the funds.

Expectations of cold weather in the U.S Northeast is seen supporting stronger heating values in the region, the world's largest consumer of the fuel, traders said on Monday.

Stocks closed at 14-month highs on Monday as Abu Dhabi's $10 billion in aid to help Dubai avoid default eased concerns and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions activity.

New data released today by the Arctic Monitoring and Assessment Program says that by 2010 ocean levels are expected to rise by 0.5 to 1.5 meters.

Google Inc plans to sell two versions of its own-branded cell phone: one with a service contract with T-Mobile USA and another that is unlocked, a source familiar with the matter said.

President Barack Obama said Monday that Banks must be active in helping accelerate the U.S. economic recovery after receiving help from taxpayers.

UK chocolatier Cadbury teased shareholders with the prospect of rival bids and promised bigger dividends and stronger growth as it again knocked back a hostile 10 billion pound ($16.2 billion) offer from Kraft Foods .