IBT Staff Reporter

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Hurricane Bill gains speed

Hurricane Bill gained speed and is expected to become the first hurricane of the season as it makes its way toward Bermuda later this week. Ana may dissipate today in the Caribbean according to reports from the National Hurricane Center.

Aug 17, 2009

iPhone gets MIIT approval, certified for sale in China (Photos)

Apple's iPhone has passed the entry-net test, signaling that it's a step closer to the huge Chinese market, Sina Tech said on Monday.

Aug 17, 2009

Fed, Treasury extend TALF to mid-2010 for CMBS

The U.S. Federal Reserve said on Monday it will extend to mid-2010 an emergency program aimed at boosting lending in the ailing commercial real estate market.

Aug 17, 2009

Battered consumers still need Fed support

Consumers, the cornerstone of U.S. economic activity, are still in disarray, data and central bank measures signaled on Monday, as households struggle amid the worst recession since the Great Depression.

Aug 17, 2009

U.S. August home-builder sentiment highest in year

U.S. homebuilder sentiment in August rose to its highest level in over a year, a private survey showed on Monday, adding to mounting evidence that the housing market and economic recession were leveling out.

Aug 17, 2009

Oil falls nearly $2 on recovery jitters

Oil fell nearly $2 to below $66 a barrel on Monday as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.

Aug 17, 2009

Euro dips vs Dollar; yen up broadly on risk aversion

The euro hit a two-week low against the dollar and neared a one-month trough against the yen on Monday as world stock markets fell and doubts about a U.S. recovery prompted investors to cut exposure to risk.

Aug 17, 2009

China cut U.S. Treasury holdings in June

China reduced its holdings of U.S. Treasury debt in June by the biggest percentage in nearly nine years, according to Reuters historical data and a Treasury Department report issued on Monday.

Aug 17, 2009

Full list of Dancing With the Stars Season 9 unveiled

ABC unveiled Monday the full cast for the ninth season of its TV Show Dancing With the Stars on Good Morning America.

Aug 17, 2009

Wall St falls on recovery concerns

U.S. stocks slid on Monday, dropping after a bleak outlook from home improvement giant Lowe's and weak economic figures from Japan reignited concerns about world demand.

Aug 17, 2009

Porsche, VW might merge before 2011: report

German carmakers Porsche (PSHG_p.DE) and Volkswagen (VOWG.DE) might merge in 2010 already instead of 2011 as currently planned, German newspaper Die Welt reported, citing VW's finance chief.

Aug 17, 2009

BB&T making $750 million stock offering

Southeast regional bank BB&T Corp , which on Friday agreed to buy assets of lender Colonial Bank, said it is making an offering of $750 million of its common stock.

Aug 17, 2009

Yang upstages Woods with Hazeltine win

South Korean Yang Yong-eun became Asia's first male major winner after overhauling Tiger Woods in stunning fashion to clinch the U.S. PGA Championship by three shots on Sunday.

Aug 17, 2009

Toyota denies plan to build hybrid car in France

Toyota Motor Corp said on Monday it has no plans to build a hybrid car at its Valenciennes factory in northern France, denying a report in La Tribune.

Aug 17, 2009

Mid-Day Minute - August 17

Wall Street tumbles on global recovery concerns, Fed, Treasury extend TALF to mid-2010 for CMBS; CIT completes debt tender, buys time to restructure

Aug 17, 2009

Telecom operators hurt selling iPhones

Heavy subsidies shelled out by telecom operators around the world to lure consumers to buy an Apple iPhone have done nothing to increase profits, and have even dented them in some cases, a research report showed on Monday.

Aug 17, 2009

Oil falls 3 percent on recovery jitters

Oil fell over 3 percent to below $66 a barrel on Monday, its lowest this month, as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.

Aug 17, 2009

N.Y. manufacturing growth emerges in August

A gauge of the New York state factory sector showed growth for the first time since April 2008, signaling manufacturers could lead the U.S. economy out of the worst downturn in 70 years.

Aug 17, 2009

Full list of â€œDancing With The Stars 2009â€ Season 9 Cast

The competitors of Dancing With The Stars were announced on Good Morning America earlier on Monday.

Aug 17, 2009

Wall Street tumbles on global recovery concerns

Stocks fell broadly on Monday as ongoing concerns about the speed of a global economic recovery were compounded by data from Japan, which showed that while the world's No.2 economy returned to growth, the recovery may be shaky.

Aug 17, 2009

CIT completes debt tender, buys time to restructure

CIT Group Inc said on Monday it completed its tender offer for $1 billion in debt maturing today, buying the company more time to attempt to restructure its debt and stave off bankruptcy.

Aug 17, 2009

WHO chief urges swine flu vigilance

The world must remain on its guard against H1N1 influenza, which has been mild so far but could become more serious as the northern hemisphere heads into winter, the head of the World Health Organization said on Sunday.

Aug 17, 2009

Public insurance plan not essential: Sebelius

The government-run health insurance option favored by President Barack Obama is not essential to a healthcare overhaul as long as the final measure boosts competition, a top U.S. health official said on Sunday.

Aug 17, 2009

Russia says finds missing ship and crew alive

Russia has found a missing merchant ship, whose disappearance baffled European maritime authorities, near the Cape Verde islands and the crew are alive, Defence Minister Anatoly Serdyukov said on Monday.

Aug 17, 2009

Thai red shirts rally, seek pardon for Thaksin

More than 20,000 supporters of former Thai premier Thaksin Shinawatra rallied in the historic heart of Bangkok on Monday, seeking a royal pardon for the fugitive billionaire and illustrating a deep political divide.

Aug 17, 2009

Quitting smoking causes quick drop in inflammation

Just weeks after quitting smoking, women show major reductions in several markers of inflammation associated with heart disease risk, new research shows.

Aug 17, 2009

Suicide truck bomber kills 20 in Russia's Ingushetia

A suicide bomber rammed a truckload of explosives into the local police headquarters in Russia's Ingushetia region on Monday killing 20 people, the deadliest attack in the North Caucasus region since 2005.

Aug 17, 2009

Lowe's gives dismal quarterly outlook

Lowe's Cos posted a 19 percent drop in quarterly profit on Monday and forecast current-quarter earnings below Wall Street estimates as consumers put off big home projects, sending its shares down more than 8 percent.

Aug 17, 2009

More evidence that fish is brain food

Older adults in developing countries who regularly eat fish seem to have a lower risk of dementia, a new study suggests.

Aug 17, 2009

Rosetta Stone cuts outlook; shares sink

Language training software maker Rosetta Stone Inc cut its third-quarter earnings outlook and scrapped a proposed stock offering barely a week after announcing it, sending shares down more than 25 percent.

Aug 17, 2009