IBT Staff Reporter

Former Bank of America Corp general counsel Timothy Mayopoulos said he was stunned to be fired as the bank was trying to wrap up its purchase of Merrill Lynch & Co, after being told he would become the combined company's new general counsel.

Jeffrey Herbst was Monday named the 16th president of Colgate University after the board of trustees unanimously approved his appointment.

U.S. stocks rose broadly on Monday, sending indexes to fresh 13-month closing highs, after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth.

The semiconductor market is showing recovery in the midst of economic uncertainty, with global semiconductor revenue expected to bounce back to same level as 2008 at $255 billion despite an 11.4 percent decline in 2009 to $226 billion, Gartner said on Monday.

General Motors Co said on Monday it lost $1.2 billion in a bankruptcy-shortened third quarter, but it vowed a quick repayment of $8 billion owed to the United States and Canada.

The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday.

Pop star Janet Jackson holds Michael Jackson's personal doctor responsible for her brother's sudden death and has told ABC News that a day does not go by when she doesn't think about her late sibling.

U.S. retail sales grew more than expected last month as vehicle purchases bounced back, but non-auto sales rose modestly, suggesting consumers remained too cautious to drive a robust economic recovery.

Intel Corp. said on Monday it has agreed with NEC to jointly develop High Performance Computing (HPC) system technologies, which will bring Intel Xeon processor to a wider supercomputing audience.

The United Nations' nuclear watchdog is concerned that Iran's belated revelation of a new uranium enrichment site may mean it is hiding further nuclear activity, an agency report said on Monday.

Spanish-language media company Univision Communications Inc said on Monday it has reached an agreement to feature short and full-length programs on Google Inc's online video site YouTube.

The United States would veto a Palestinian declaration of statehood in the United Nations Security Council, U.S. senators visiting Israel said Monday.

With no local economic data released yesterday the Australian dollar bounced around between 0.9320 and 0.9350 for the majority of the Asian day searching for direction. The directionless trade continued well into the evening and throughout the European session only coming to life in North American exchange. Consumer Spending data out of the U.S surprised to the upside triggering a surge in demand for equities and riskier assets in general which benefited the Aussie dollar. At its peak the AUD/US...

Two U.S. Senators on Monday unveiled bipartisan legislation aimed at doubling nuclear power in 20 years and increasing funding for research into low carbon sources of energy.

Sarah Palin said a run for the White House in 2012 is not on my radar screen right now as the Republican carefully did not close the door to a possible candidacy in an interview that launched her big book tour.

The U.S. government's growing indebtedness could put upward pressure on borrowing costs, Dallas Federal Reserve Bank President Richard Fisher said on Monday.

U.S. mall owner Developers Diversified Realty Corp snapped a dry spell of nearly a year and a half by selling $400 million of new commercial mortgage bonds on Monday, with help from an emergency Federal Reserve lending program.

Thai integrated circuit packager Hana Microelectronics Pcl said on Monday fourth-quarter net profit and revenue would be higher than a year earlier and profitability would improve next year.

The shuttle Atlantis successfully blasted off into orbit Monday towards the International Space Station, carrying 15 tons of critical spare parts and equipment. Atlantis and its six-man crew launched as scheduled at 2:28 p.m. ET from the Kennedy Space Center in Florida. The mission trip's purpose is to deliver equipment, including two gyroscopes, to the International Space Station.

Vonage Holdings Corp said on Monday that it would pay $3 million to settle a previously disclosed investigation of its business practices in 32 states by state attorneys general.

Ford Motor Credit is marketing $1 billion of securities supported by auto loans to investors in the U.S. asset-backed securities market, sources said on Monday.

Recent economic data from some of the world's largest industrial regions suggests that the world may be moving towards growth, however the largely government manufactured recovery leaves open the question as to whether recovery can be sustainable.

U.S. credit card companies said defaults fell more than expected in October, but delinquencies mostly rose in a sign that consumers remain under stress and the sector can expect more pain ahead.

U.S. stocks rallied broadly to fresh 13-month highs on Monday after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth.

Gold raced to a record high above $1,140 an ounce on Monday, gaining 2 percent as a weakened dollar boosted funds' risk appetite for investments across the board.

Cisco Systems Inc raised its bid for Tandberg ASA 10 percent to 19 billion Norwegian crowns ($3.41 billion), a move widely expected to win over shareholders of the video conferencing company.

Germany's Bundesbank urged banks to use a markets recovery to restructure and prevent a rerun of the financial crisis even as Deutsche Bank's chief called for a common bailout fund with taxpayer backing.

Microsoft is launching its Zune media brand outside the US for the first time, a move to grab shares from the dominating Apple iTune after failure to compete with iPod.

U.S. stocks rose on Monday to 13-month highs led by energy and materials shares even as Federal Reserve Chairman Ben Bernanke said the economic expansion probably will not be as robust as hoped.