IBT Staff Reporter

Bank of America Corp and former Merrill Lynch & Co brokerage chief Robert McCann have resolved a dispute over his contract, freeing him to take another job in financial services.

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the NATIONAL ASSOCIATION OF REALTORS.

Foreclosures and other distressed property might look like a good deal, but some buyers are discovering that they just don’t have the stomach for the problems that come with it.

Nearly one third of people who applied for a mortgage last year were denied, the Federal Reserve reported Wednesday.

Bernanke open to sharing; NBC Universal's Owership Talks; Lewis Out

Google Inc is in the early stages of looking at ways to write software that would fully integrate plug-in hybrid vehicles to the power grid, minimize strain on the grid and help utilities manage vehicle charging load.

When Janice Barnwell decided to boost her career by obtaining a master's degree in business, the working mother chose an online university because of the convenience and the low cost.

Automakers and their suppliers must use the breathing space they have been given by bankruptcy and government programs to innovate and to create vehicles consumers want, said Corinne Ball, who led a team of attorneys representing Chrysler during its Chapter 11 reorganization.

Congressional approval of an Obama administration plan to create a systemic risk regulator for the U.S. economy looks more likely after lawmakers noted a change in tone by the Federal Reserve on Thursday.

Ford Motor Co (F.N) has room for steady growth in its share of the North American and European auto markets, Chief Executive Alan Mulally said on Wednesday.

CIT Group Inc's board was meeting Thursday to consider a restructuring plan for the struggling commercial lender, a source familiar with the matter said.

Talks between Canadian automotive group Magna (MGa.TO), General Motors and workers at German carmaker Opel were adjourned with no result on Thursday and will resume soon, a spokesman for Opel said.

Toyota Motor Corp (7203.T) and Ford Motor Co (F.N) are likely to outsell General Motors Co [GM.UL] in the U.S. market by 2015 -- when industry sales will finally return to levels last seen in 2000, according to an industry forecasting firm.

Ford Motor Co (F.N) said on Thursday its U.S. auto sales fell 5 percent in September from a year earlier as demand slumped off in part due to the end of the U.S. government's cash for clunkers incentive program.

Bank of America Corp CEO Kenneth Lewis announced he was retiring, after months of being dogged by a series of government investigations into the company's acquisition of Merrill Lynch last year that had become a major distraction for the biggest U.S. bank.

U.S. stocks dropped on Thursday after the latest jobs and manufacturing data extended a string of lackluster economic figures and raised concerns about the strength of the economic recovery.

China celebrated its wealth and rising might with a show of goose-stepping troops, gaudy floats and nuclear-capable missiles in Beijing on Thursday, 60 years after Mao Zedong proclaimed its embrace of communism.

The United States should provide information about top militants in Pakistan, a government minister said on Thursday, as Washington stepped up pressure on Islamabad to go after Taliban leaders.

The U.S. Consumer Product Safety Commission has fined discount retailer Target Corp (TGT.N) $600,000 for allegedly violating a federal lead paint ban on toys.

Israeli Prime Minister Benjamin Netanyahu said on Thursday the United Nations would deal a fatal blow to prospects for Israeli-Palestinian peace if it endorsed a report critical of Israel's January war in Gaza.

U.S. farmers could grow enough corn to produce 25 billion gallons of ethanol in 2030, twice as much as this year's target of 12 billion gallons, said the leader of a U.S. corn group on Thursday.

Fiat SpA (FIA.MI) will rush the first all-new Chrysler model to the U.S. market by the end of 2011 and create a new Ram brand for its truck line under a revival plan for Chrysler that will be shown to the U.S. government this week, people involved in the discussions said.

FPL Group Inc's green-energy unit on Thursday said it agreed to buy three wind projects from Babcock & Brown Power for about $352 million.

The United States said it held the highest level direct talks with Iran in three decades on Thursday to try to put to rest Western suspicions Tehran is planning a nuclear bomb.

Cuban exiles, who had previously opposed a concert last month in Havana by Colombian singer Juanes, ended up mostly backing the event after Juanes spoke out in favor of uniting Cubans, a new poll showed.

Bruce Springsteen yelled Evenin', New Jersey! Nice to be in my back yard to the crowd at the Giants Stadium yesterday night for his opening concert.

Former INXS and Noiseworks singer Jon Stevens is being held in hospital after suffering complications following emergency open-heart surgery, his management company said on Thursday.

The International Monetary Fund on Thursday declared that a global economic recovery has begun led by Asia, also cautioning that the strength of the rebound depended on a rebalancing of global growth.

Cisco has agreed to buy Norwegian videoconferencing company Tandberg for $3 billion in cash, its latest big bet that video will drive demand for its core data transmission gear.