IBT Staff Reporter

Federal Reserve Chairman Ben Bernanke traveled to the U.S. heartland to defend the central bank's actions and reaffirm his assessment of an improving, but still vulnerable, U.S. economy.

Hitachi Ltd plans to absorb five listed units, two sources close to the matter said on Monday, as the loss-making conglomerate tries to pool its sprawling resources to turn a profit.

RadioShack Corp reported a higher-than-expected quarterly profit on Monday, boosted by lower costs and improved sales of netbooks, prepaid wireless handsets and digital televisions.

Citigroup Inc said on Sunday some 99 percent of its stock was tendered in an exchange offer for publicly held securities, in a key step toward giving the U.S. government a 34 percent equity stake in the bank.

JP Morgan Chase & Co revamped some of its senior equities staff looking to gear the bank for more push into prime brokerage, the Wall Street Journal said, citing people familiar with the matter.

Stock index futures pointed to a slightly higher open on Wall Street on Monday, mirroring gains in Asia and Europe, on mounting optimism over a recovery in corporate profits that has fueled a sharp two-week rally on stock markets worldwide.

Health insurer Aetna Inc is looking to sell its pharmacy benefits management business, the Wall Street Journal said, citing several people familiar with the matter.

Irish budget airline Ryanair cut full year profit forecasts to the lower end of its range on Monday due to falling yields, sending its shares down 10 percent and impacting the broader airlines sector.

World stocks raced to fresh nine-month highs and oil rallied on Monday as a recent run of strong corporate earnings and anticipation for more boosted optimism for a recovery in the global economy.

Asian stocks rose for the ninth day in 10 on Monday, with investors still focused on upward momentum in corporate earnings, though some worried whether the gains were racing ahead of longer-term economic prospects.

Filming for Iron Man 2 finished just last week but thousands of fans got their first sneak peek at the star-studded new cast members this weekend at the Comic-Con convention.

Asian stocks rose for the ninth day in 10 on Monday, with investors still focused on upward momentum in corporate earnings and moving money into riskier, higher-yielding assets.

Irish airline Ryanair on Monday posted a better-than-expected 550 percent rise in first quarter profit thanks to a large reduction in fuel costs but said its outlook remained cautious for the rest of the year.

A Canadian astronaut aboard the International Space Station said on Sunday it looks like Earth's ice caps have melted a bit since he was last in orbit 12 years ago.

Former world boxing champion Vernon Forrest was shot dead in Atlanta, the victim of an apparent robbery, city authorities and local media said on Sunday.

Iraqi Kurdistan's two ruling parties are likely to be confirmed in power despite an unprecedented opposition challenge when election results are announced on Monday.

French President Nicolas Sarkozy was rushed to hospital on Sunday after falling ill while jogging and will stay there overnight to undergo cardiological tests, officials said.

A court in army-ruled Myanmar heard final arguments on Monday in a case involving opposition leader Aung San Suu Kyi, who faces five years in prison if found guilty of breaching a draconian security law.

U.S. Secretary of State Hillary Clinton said on Sunday that major powers wanted North Korea to return to negotiations over its nuclear program but would not reward any provocative actions.

The chief executive of a Japan-based trading company on Monday pleaded guilty to illegally exporting to North Korea two tanker trucks that could be used as missile launch pads, Kyodo news agency said.

Four weeks after the military overthrew and expelled Honduran President Manuel Zelaya, Central America's worst political crisis in 20 years looks as intractable as ever.

Disheartened supporters of Manuel Zelaya trickled home from the Nicaraguan border on Sunday and the ousted Honduran president complained that U.S. condemnation of his removal from power was waning.

Hotel worker Roshinante has no interest in actively pursuing women, is nonchalant about a career and finds cars a bore -- and he is not alone in opting for a quiet, uncompetitive lifestyle.

LOS ANGELES - A new kids' content company, A Squared Entertainment, has teamed with AOL on a slate of entertainment brands for children.

Apple Inc and four record labels are working on a plan to increase digital sales of albums, while the computer maker is also separately developing a tablet-sized device, the Financial Times reported on Sunday.

The U.S. jobless rate is likely to stay high even once the nation exits recession some time in the next few months, Federal Reserve Chairman Ben Bernanke said on Sunday.

(Corrects in 13th paragraph proper name of GAO to Government Accountability Office)

The U.S. jobless rate is likely to stay high even once the nation exits recession some time in the next few months, Federal Reserve Chairman Ben Bernanke said on Sunday.

Job woes despite recovery, Accused CEO dies, Top Five at Box Office