IBT Staff Reporter

Eli Lilly and Co said on Monday it plans to cut 5,500 jobs, or 13.5 percent of its workforce, as it girds for generic competition by 2011 on its Zyprexa schizophrenia drug and Gemzar cancer treatment.

American Express Co announced on Monday a new line of certificates of deposit as part of the largest U.S. credit card company's plan to diversify funding sources as the financial crisis tightened lending.

Apple Inc. discontinued its 40GB Apple TV and cut the price of its 160GB model $100 to $229 on Monday. However, critics are arguing that Apple TV won't see any real success until it opens up to Web video beyond iTunes despite price cuts.

Foursquare Capital Corp, a real estate investment trust that will be run and advised by a unit of money manager AllianceBernstein, will price its initial public offering and make its trading debut the week of Sept. 21, according to one of deal's underwriters.

Japan's NEC Corp will take over the cellphone operations at Casio Computer Co and Hitachi Ltd as the struggling sector bands together to cut costs and survive a fast-shrinking market.

Oil fell on Monday, weighed down by trader concerns that the top U.S. commodities exchange could tighten enforcement of position limits and about a U.S. decision to impose special duties on Chinese tires.

A federal judge on Monday rejected Bank of America Corp's and the U.S. Securities and Exchange Commission's proposed settlement over Merrill Lynch & Co bonuses, describing the agreement as a contrivance that harms shareholders.

The French arm of U.S. electronics group Molex which has been the subject of violent protests from workers afraid they might lose their jobs, could be acquired by investment firm HIG Capital.

Serena Williams apologized on Monday afternoon for her inappropriate outburst towards a U.S. Open line judge during her match with Kim Clijsters in the tournament's semifinals.

Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught.

Noble Energy Inc has put North Sea assets up for sale that some Wall Street analysts value at up to $650 million.

Rich Americans who have evaded taxes by hiding their foreign holdings have about a week to decide whether to turn themselves in to an Internal Revenue Service amnesty program or gamble that they will not be caught.

French maths and computer science graduate Edouard d'Archimbaud thought he was about to start a lucrative and challenging career in finance when he walked through the doors of Lehman Brothers' London offices a year ago. Surprised to see crowds of journalists, staff and police in front of the building as he turned up for his first day on Sept. 15, 2008, it was only once inside that d'Archimbaud rea...

Direct Edge's applications to operate two stock exchanges appeared for public comment on the U.S. Securities and Exchange Commission's web site on Monday, bringing the privately held alternative venue a step closer to becoming a formal exchange operator.

U.S. stocks were little changed on Monday after the United States imposed special duties on Chinese tires, raising investors' concerns about trade friction between the two economic powers.

Industrial distributor W.W. Grainger Inc said it would record a one-time gain in the third quarter, following the completion of its tender offer bid for Japan's MonotaRO Co Ltd.

JPMorgan Chase & Co agreed to buy carbon offset aggregator EcoSecurities for 122.9 million pounds ($204 million) on Monday, trumping a bid from the firm's co-founder, to boost its carbon-credit trading business.

A new wave of documentaries at this year's Toronto International Film Festival poses a disturbing question: is environmental and social disaster on a global scale imminent and perhaps inevitable?

The U.S. Open men's singles final between Roger Federer and Juan Martin del Potro is scheduled for Monday 4:00 pm EST, according to the US Open website.

The dollar fell against the euro on Monday, erasing earlier gains, as investors looked past a United States versus China trade dispute and took on more risk. U.S. stocks pared losses .N, illustrating higher risk appetite and reducing safe haven demand for the dollar, as investors stuck to the theme of recent months of changes in risk tolerance driving dollar action.

President Barack Obama is at New York's Federal Hall on Wall Street today where he is addressing leaders of the financial community in a speech.

Wall Street slipped on Monday as a decision by the United States to impose special duties on Chinese tires sparked concerns of an escalating trade dispute.

Wall Street slipped on Monday as a decision by the United States to impose special duties on Chinese tires sparked concerns of an escalating trade dispute.

Upcoming trial results for lorcaserin, the experimental obesity drug being developed by Arena Pharmaceuticals Inc, will likely show it is about 4 percentage points more effective in promoting weight loss than a dummy pill

U.S. President Barack Obama, marking a year since Lehman Brothers collapsed, urged financial firms on Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year.

Poverty is as a strong a predictor of premature death today as it was a century ago, according to findings from a study in England and Wales.

Swimming in a chlorinated pool may boost the odds that a child susceptible to asthma and allergies will develop these problems, a study released today indicates.

U.S. telecom equipment maker Avaya Inc has emerged as the successful bidder at a bankruptcy auction for the Nortel Networks Corp unit that builds corporate networks, and will pay $900 million for the business.

President Obama is at Wall Street today to speak from Federal Hall to mark one year after the collapse of Lehman Brothers and to breathe new life into efforts to overhaul the financial regulatory system.