IBT Staff Reporter

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BofA, execs owe billions in lawsuit, Ohio says

Investors in a class-action lawsuit against Bank of America Corp over the Merrill Lynch & Co takeover are trying to collect billions of dollars in damages, Ohio's attorney general said on Monday.

Exelon to quit U.S. Chamber of Commerce over climate

Exelon Corp, the largest nuclear power operator in the United States, on Monday became the latest U.S. power company to say it will leave the Chamber of Commerce over that group's opposition to the climate bill.

Abbott, J&J strike deals, boost vaccines

The world's two largest diversified healthcare companies struck deals on Monday that will propel them into vaccines, a red-hot area for investors because of the pandemic flu threat and potential high profits for preventing other diseases.

Corporate takeover news lifts Wall Street

U.S. stocks rose on Monday, halting a three-day losing streak, as a spurt of corporate takeovers in the technology and healthcare sectors fueled optimism about share values.

Guitar maker draws buyers, cult-like following

Three decades after defying the odds and persuading Carlos Santana to try out his hand-built guitar, Paul Reed Smith's quest for perfect tone is still reeling in enthusiasts from all over the world.

Russia's AvtoVAZ plans to assemble Nissan cars

Russia's carmaker AvtoVAZ (AVAZ.MM) plans to assemble Nissan's (7201.T) class 'B' cars at its production facilities by 2012, officials and sources at AvtoVAZ and local administration told Reuters on Friday.

VW gets wage deal for western German staff

Volkswagen (VOWG.DE) and the IG Metall union have struck a wage deal for 95,000 staff in six western German plants that calls for a 4.2 percent pay rise plus one-off payments.

Toyota-GM's NUMMI to axe all 4,700 workers

New United Motor Manufacturing Inc (NUMMI), a joint venture between Toyota Motor Corp (7203.T) and the former General Motors Corp [GM.UL] in California, will shed its entire workforce of about 4,700 by next spring, the Nikkei business daily reported on Saturday.

CF buys 7 pct of Terra in open market

Fertilizer maker CF Industries Holdings Inc said on Monday it has acquired a 7 percent stake in Terra Industries Inc in its latest move to buy the company.

Auto-parts maker Holley files for bankruptcy

Holley Performance Products, a maker of high-performance carburetors and automotive fuel-injection systems, filed for bankruptcy on Monday, its second filing in less than two years.

Filene's seeks to wipe out $70 mln in claims

Filene's Basement has asked a federal judge to sign off on a deal that the bankrupt department store chain said would eliminate about $70 million in claims held by its former parent Retail Ventures Inc and by DSW Inc.

Banged up, Allen Stanford back in jail after brawl

Allen Stanford, the alleged mastermind of a $7 billion fraud, is back in his jail cell after suffering a mild concussion, broken nose and two black eyes in a prison brawl last week, his lawyer said on Monday.

Banged up, Stanford back in jail after brawl

Allen Stanford, the alleged mastermind of a $7 billion fraud, is back in his jail cell after suffering a mild concussion, broken nose and two black eyes in a prison brawl last week, his lawyer said on Monday.

Honduran troops shut down pro-Zelaya media

Honduras' de facto government sent troops on Monday to shut down two media stations loyal to ousted President Manuel Zelaya, digging in to resist international pressure for his return to power.

Small Mortgage Banks Band Together

Scores of independent mortgage banks have closed their doors over the past two years due to the challenges of obtaining short-term credit, and two new trade groups have been established in response.

CBS News to partner with GlobalPost

CBS News has reached a deal with the news website GlobalPost to use its 70 correspondents around the world to reinforce its foreign news reporting.

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