IBT Staff Reporter

The Obama administration was optimistic on Sunday that the U.S. Senate would extend the federal

Google CEO Eric Schmidt has resigned from Apple's board of directors due to conflicts of interest between the two companies.

Conglomerate Loews Corp reported a lower-than-expected second-quarter profit on Monday, but higher operating income at its CNA commercial insurance business boosted its shares by 4 percent.

Bank of America Corp was charged by the SEC on Monday with making materially false and misleading statements in the Merrill Lynch acquisition, court documents said.

More than 6,000 U.S. hourly workers have left General Motors Co under the automaker's latest buyout program intended to make it a leaner company after its emergence from bankruptcy.

The question is whether jobs can be found for retrained workers in the state with America's highest unemployment rate.

Everbright Securities Co, China's 10th biggest brokerage by market share, plans to raise as much as 10.96 billion yuan ($1.60 billion) in its Shanghai initial public offering after announcing an IPO price range on Sunday.

Oil rose more than $2 a barrel to hit a one-month high near $72 on Monday as positive manufacturing data in the U.S. and China raised optimism for an economic recovery that could bolster energy demand.

Ford Motor Co said on Monday that U.S. auto sales rose 2.3 percent in July, its first year-over-year monthly sales increase since November 2007, supported by the U.S. government Cash for Clunkers program.

Ford Motor Co. on Monday reported an increase of 2.3 percent to 165,279 vehicles in July monthly sales, its first monthly gain since 2007. The automaker said that it benefitted from the federal Cash for Clunkers new-car incentive program.

Eric Schmidt, chief executive officer of Google, announced his resignation from Apple's Board of Directors due to potential conflicts as the two tech giants compete in similar markets. Schmidt has served as a member of Apple's board since August 2009. Read Full Article here.

A Turkish hacker has defaced dozens of Dutch websites with pro-Islamic slogans and pictures of right-wing politician Geert Wilders edited to make him look like a monkey, a website that tracks hackers said.

HSBC and Barclays on Monday reported a surge in bad debts to a combined $21 billion as recession took its toll on borrowers, but Britain's two biggest banks offered encouragement they could be through the worst.

Google Inc Chief Executive Eric Schmidt is resigning from Apple Inc's board of directors, Apple said, citing increased competition between the two leading technology companies.

Google Inc Chief Executive Eric Schmidt is resigning from Apple Inc's board of directors, the companies said, citing increased competition between the two leading technology companies.

U.S. stocks rose on Monday after data showed the manufacturing sector shrunk at a slower pace in July, while rising commodity prices boosted natural resource stocks.

Health insurer Humana Inc posted a higher-than-expected quarterly profit as an improved performance in its Medicare plans for the elderly offset a decline in earnings from its business serving employers.

Diabetics who took the drug metformin, which makes the body process insulin better, had a 62 percent lower risk of pancreatic cancer compared to those who had never received it, U.S. researchers said on Saturday.

The U.S. Agriculture Department said on Friday it will increase testing parts of steaks and other meat cuts used to make ground beef as the government steps up efforts to reduce the spread of E. coli bacteria in food.

A woman from Cameroon has been found to be infected with an AIDS-like virus that came from gorillas, French researchers reported Sunday.

China has sealed off a remote far-western town of 10,000 people after two people died of pneumonic plague, state media said Monday, but the World Health Organization said such outbreaks were nothing new.

Scientists have identified a class of immune cells that floods the brain soon after a stroke, causing inflammation and more neurological damage.

One of the most aggressive forms of breast cancer may originate in the cells lining the mammary ducts, which can be targeted in the fight against the disease, experts in Australia say.

A widely followed nationwide index on U.S. manufacturing could show the sector back on a growth path when the next report comes out in early September.

Japan's Panasonic Corp reported a smaller-than-expected quarterly loss and sharply lifted its half-year outlook as it cuts costs to cope with a firmer yen and steep price falls in flat TVs.

General Motors Co said on Monday its China vehicles sales in July jumped 77.7 percent from a year earlier, extending an uninterrupted series of single month sales records since January.

The Australian Dollar opens higher on Monday at 0.8355 after signs emerged on Friday night that the economic decline in the United States is moderating therefore reducing the allure of the greenback as a safe haven.

China ratcheted up pressure on exiled Uighur activist Rebiya Kadeer on Monday, saying two of her children and her brother had written letters condemning their mother for orchestrating last month's ethnic riots.

Microsoft's offer to settle a decade-long battle with EU antitrust regulators cements the European Commission's reputation as one of the world's toughest watchdogs and could force other firms to follow its example.