IBT Staff Reporter

CIT Group Inc , a cash-strapped corporate lender scrambling to stay afloat, on Monday reported a second-quarter loss and said it continues to pursue a turnaround plan outside of bankruptcy court.

Steven Spielberg's DreamWorks Studios and Indian conglomerate Reliance ADA Group closed a financing deal on Monday, putting the final touch on a three-year, $825 million pact for up to six films a year.

Cable television's Sundance Channel on Monday unveiled a video-on-demand service offering documentaries and international films endorsed by Sundance festival founder Robert Redford and often available the same day the movies hit theaters.

Kiss, the self-proclaimed

Britain's Academy of Contemporary Music is opening its first U.S. branch in Oklahoma City, with ambitious plans to enhance touring opportunities in the region, as well as educate students for a career in the music business.

Young rapper Bow Wow is officially out of retirement.

The Wayans brothers and Sony Pictures are developing a sequel to the 2004 comedy

Hong Kong plays a strategic role as the Mainland financial market reaches out to the world, adding renminbi, or Chinese yuan, business development in the city is one of the most important policy initiatives, Chief Secretary Henry Tang said at the launch of HSBC Bank (China) Limited's renminbi retail bonds offering on Monday afternoon.

Reality fashion show

Former U.S. House Majority Leader Tom DeLay will be among the cast of 16 celebrities in this season's

Jenny Sanford, the wife of South Carolina Governor Mark Sanford spoke about how she felt about her husband and his Argentinean mistress Maria Belen Chapur in an interview published by Vogue this week.

The chief regulator of U.S. commodities markets, Gary Gensler, is serious about limiting speculation in energy futures trading and will move to provide details about managed funds' contract positions in an attempt to make markets more transparent.

CITIC Securities Co, China's largest listed brokerage, posted a 19.77% drop in net profit in the first half of this year on a suspension of initial public offerings (IPOs) and a decrease in fund sales.

UBS will give U.S. authorities the names of about 5,000 wealthy Americans suspected of using the Swiss bank to evade taxes under a deal that will be formalized this week, a U.S. legal source said on Monday.

LONDON - Radiohead offered a new song for free download Monday, These Are My Twisted Words, which is available from the band's official Web site.

The 16-week

Electronics testing equipment maker Agilent Technologies Inc reported better-than-expected results and gave a strong forecast for the current quarter, sending its shares up over 2 percent on Monday.

President Barack Obama on Monday called the conflict in Afghanistan a war worth fighting as he sought to stiffen U.S. public support before an election there this week that will test his new strategy.

Michael Jackson will finally be laid to rest on August 29, the date he would have celebrated his 51st birthday, his father Joe Jackson told the New York Daily.

Chrysler Group is planning to produce Fiat SpA's (FIA.MI) Fiat 500 subcompact at a Chrysler plant in Mexico, the Wall Street Journal reported, citing people familiar with the matter.

Michael Jackson's body will be buried at a Los Angeles cemetery on August 29, which would have been his 51st birthday, according to his father.

Michael Jackson's father has said the

A former Credit Suisse Group AG broker was convicted by a federal jury of fraud for steering corporate clients into risky auction-rate securities, causing nearly $1 billion of losses.

U.S. authorities announced what they believed to be the largest hacking and identity theft case ever prosecuted on Monday in a scheme in which more than 130 million credit and debit card numbers were stolen.

Charles Schwab Corp was sued by New York Attorney General Andrew Cuomo, who accused the discount brokerage of fraudulently misleading investors about the safety of auction-rate securities.

The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers may not be in as bad shape as feared despite job losses and the housing slump.

Reality show

U.S. loan demand fell in the second quarter for every major category bar prime residential mortgages as banks tightened credit standards and borrowers remained cautious, central bank and government studies showed.

The U.S. Treasury said on Monday that loan balances at the top 22 banks that received government capital injections under the Troubled Asset Relief program fell again in June, but loan origination rose.