IBT Staff Reporter

The Obama administration within days will move to get tougher with large financial firms that are in trouble by urging Congress to let the government seize control, wipe out shareholders, boot management and restructure debts, an administration official said on Monday.

New York gold futures ended at their lowest level in more than two weeks on Monday as a sudden resurgence of the dollar decreased bullion's appeal as a hedge against a depreciating U.S. currency .

Photographing professional big wave surfers at a major competition and meeting a surfing legend was not what I had in mind for my first trip to Hawaii, but therein lies the beauty of this trip. I headed

If you travel often I'm sure that at some point you've found yourself listening to a fellow backpack-toting wanderer berate his peers for not being 'good travellers'. But really, is there such a thing as a

President Barack Obama will announce the largest investment of economic stimulus funds in clean energy during a visit to Florida, an Obama administration official said on Monday.

The European Union should shift more of its spending to climate and energy security as part of a radical overhaul of the bloc's budget, according to a draft paper by the EU's executive arm

Calpine Corp reduced the 600-megawatt Otay Mesa natural gas fired power plant in California for planned and unplanned reasons by Sunday afternoon, the California ISO said in a report.

Pacific Gas and Electric Co, a unit of PG&E Corp, said it will buy 500 megawatts (MW) of solar power from units of NextEra Energy Resources and Abengoa Solar.

Electronics chain RadioShack Corp posted quarterly revenue that topped Wall Street expectations, helped by its push in mobile phones and calling plans, sending its shares up 16 percent to a year high.

Philip Morris USA has raised prices on its top selling Marlboro and other brands, a company spokesman said on Monday.

Cancer drug developer SuperGen Inc said it entered into a multi-year collaboration with GlaxoSmithKline Plc to discover and develop cancer therapeutics for an upfront payment of $5 million.

Key officials and lawmakers are reaching a growing consensus on the need for a strong mechanism that would allow the government to dismantle troubled financial giants, the chairman of the Federal Deposit Insurance Corp said on Monday.

Chris Brown became emotional about his former girlfriend singer Rihanna Sunday night when he posted a link to a video of the two with the song The Way We Used to be.

UBS AG hired a former Citigroup and Barclays Capital banker as managing director in its investment banking department in the Americas, as the Swiss company expects equity sales to increase in 2010.

When it comes to borrowing trillions of dollars, it helps to have a golden reputation, a steady income stream, and plenty of rich, trusting friends.

U.S. stocks fell on Monday as financial shares tumbled over concern that a federal tax credit for home buyers would expire and as commodity-related shares lost ground on falling oil prices.

Excited Mexicans clutching buckets of popcorn and soft drinks in cinemas ducked whenever the ball was kicked toward them as they watched Sunday's big game between America and Guadalajara in 3D.

Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.

Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.

Deciphering William Shakespeare plays in school essays apparently was not enough for two university students who have written a book of Twitter entries that summarize and satirize works of literature.

Billionaire activist investor Nelson Peltz has secured a seat on the Legg Mason Inc board after accumulating a stake of 4.3 percent in the asset manager.

Spanish insurer Mapfre will analyse the opportunity presented by Dutch bancassuer ING's decision to split off its insurance business but has no immediate acquisition plans, its managing director said on Monday.

Toromont Industries said on Monday that lower activity in key sectors, including natural gas and construction, had a negative impact on its quarterly profit and revenue, and the company expects more of the same for the current period.

U.S. oilfield equipment and services company National Oilwell Varco Inc reported a better-than-expected profit on Monday but gave a cautious outlook and its shares fell nearly 5 percent.

Chevron Corp said on Monday it had a molten sulfur leak from a pipeline while a barge was being loaded with it at the marine terminal of its 330,000-barrel-per-day Pascagoula, Mississippi, refinery.

Verizon Communications Inc's third-quarter profit fell a less-than-expected 9 percent as wireless subscriber gains offset slower-than-anticipated growth in its FiOS television service.

Chinese Internet portal Sohu.com Inc and its recently listed gaming unit Changyou.com warned on their fourth quarter revenue outlook coming in below Wall Street estimates, sending their shares down.

U.S. microchip designer Marvell Technology Group Ltd raised its third-quarter revenue outlook on Monday, citing better demand from customers in a number of markets.

Video software maker On2 Technologies Inc said on Monday it settled legal challenges by shareholders who had sought to block its $106.5 million acquisition by Google Inc.