IBT Staff Reporter

Nortel Networks Corp is in a stalking horse talks with Avaya Inc on its principal operating subsidiary Nortel Networks Limited (NNL) and certain of its other subsidiaries.

Human Genome Sciences Inc said on Monday that its experimental lupus drug succeeded in a late-stage clinical trial, shocking many who had written the product off, and sending the stock up more than 200 percent.

Closing schools at the first sign of a new pandemic might delay the worst so health officials can prepare, but cannot prevent the spread of the disease, British researchers said on Monday.

Toshiba on Monday introduces new lines of Digital Media Frames, not just a photo frame; it supports audio and video as well.

Ordinary cells reprogrammed to act like embryonic stem cells can help repair damaged heart tissue in mice, researchers reported on Monday in a study that shows a potential practical use for the experimental cells.

Adam Yauch, 44, a member of the Beastie Boys was diagnosed with cancer in his left parotid gland about two weeks ago, he said in a video posted on the band’s website today.

A new study suggests that the timing of outbreaks of rotavirus -- the leading cause of severe diarrhea in infants and young children -- may have more to do with differences in birth rates across the United States than with environmental factors such as climate.

U.S. Energy Department announced a total of $57.5 million in funding from the stimulus package for smart grid projects. Ecuador continued in talks with China on Monday, to supply oil to the Asian country under a two-year contract.

About a quarter of patients who have superficial blood clots on their legs may be at risk for more serious clots deep in their veins, Austrian researchers reported on Monday.

Expectations are high for Apple Inc's quarterly results on Tuesday, in the wake of strong early sales for its new iPhone and improved sentiment on the personal computer market after Intel Corp's earnings.

The global fear sparked by the outbreak of H1N1 had led to the slump of tourism in Hong Kong amid the continually weak global economy, officials said on Monday.

The U.S. State, Justice and Treasury Departments launched a coordinated drive on Monday against Mexico's Gulf/Los Zetas drug cartel, including new indictments and an asset freeze.

California's top lawmakers said on Monday they were confident an agreement with Governor Arnold Schwarzenegger on a state budget that closes a $26.3 billion deficit would be reached later in the day and voted on by the legislature on Thursday.

Almost three-quarters of some of the world's largest retailers expect the current economic downturn to impact their business for up to two more years, according to a survey on Monday from business advisory firm AlixPartners.

U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.

The Sony Pictures is close to make a deal with an offer of over $50 million to buy the rights of Michael Jackson's final rehearsals footage from AEG and made it into a feature film, the Los Angeles Times reported Monday.

CIT Group Inc. has managed to get together $3 billion of emergency financing from bondholders enough to keep the struggling lender out of bankruptcy, a person close to the matter said, Reuters reported. The rescue has helped the troubled lender get time to restructure its debt. The loan however according to analysts is merely a delay of bankruptcy.

President Barack Obama said on Monday spiraling healthcare costs were battering American families as he sought to bolster wavering public support for plans to revamp the $2 trillion healthcare industry.

Texas Instruments on Monday posted a drop in quarterly profits as chip demand fell along with sales of cellphones and other electronics due to the weak economy, but it said sales would improve this quarter.

An estimated 300 million people in China will be able to see a total eclipse on Wednesday which is the longest in 500 years, according to an observatory in Nanjing.

Expectations are high for Apple Inc's quarterly results on Tuesday, in the wake of strong early sales for its new iPhone and improved sentiment on the personal computer market after Intel Corp's earnings.

Pakistani government announced a new law last week regarding people who made jokes by SMS (Short Messaging Service) or email about President Asif Ali Zardari will be sentenced to 14 years in jail.

The U.S. Department of Energy announced on Monday $47 million in funding from the stimulus package for eight projects from 2008 to further smart grid demonstration in seven states.

Shanghai Zhenhua Heavy Industry Co., Ltd (Zhenhua), the largest manufacturer of heavy-duty equipment in the world, has signed a $2.2-billion contract with Span's ADHK for ocean engineering products, Caijing reported on Monday. Along with the reported $2-billion deal with Iran, Zhenhua would get totally $4.2 billion deal from the ocean engineering industry.

U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.

Microsoft's Macintosh Business Unit on Monday released a free Office 2008 update with service packed 2 featuring improved speed, stability and compatibility, equipped with SharePoint technology.

Halliburton Co., the second largest oil services firm in the world, reported its second quarter net profit fell $262 million. Nissan said it will invest near $700 million in two plants to make batteries for EVs. Tuvalu said it will power its economy hundred percent with renewable energy sources by 2020.

U.S. stocks rallied on Monday, pushing the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week.

CDC Games, a business unit of CDC Corp, said it expects second-quarter revenue to rise 50 percent sequentially, helped by a rebound in the operating metrics of one of its games.