IBT Staff Reporter

Dell Inc expects to report a slight sequential increase in revenue for the quarter ending July 31, but it forecast a modest decline in gross margins due in part to higher component costs and an unfavorable mix of products.

Jailed author of the biggest Ponzi scheme in U.S. history is on his way to the prison where he will serve his 150-year jail sentence a U.S., a prison official said.

A federal court judge in Miami approved a delay in a high-profile trial on Monday in which U.S. tax authorities hoped to force UBS AG to reveal the identities of thousands of Americans suspected of using the Swiss bank to evade taxes.

Jailed author of the biggest Ponzi scheme in U.S. history is on his way to the prison where he will serve his 150-year jail sentence a U.S. prison official said. Madoff was sentenced on June 29 for orchestrating a $65 billion worldwide fraud

The survival of CIT Group Inc , a key source of financing for thousands of small and medium-sized companies, became ensnared in disagreements between regulators in Washington on Monday.

Steven Rattner will depart as head of the U.S. autos task force that oversaw unprecedented bankruptcies at General Motors Corp and Chrysler Group, Treasury Secretary Timothy Geithner said on Monday.

Dell Inc forecast lower gross margins for the July quarter, citing higher component costs and an unfavorable product mix, sending its shares down 3 percent

Patent licensing firm Mosaid Technologies Inc said on Monday it was taking IBM to court for allegedly infringing on six of Mosaid's U.S. patents.

The U.S. federal government will spend $884 million to buy more ingredients to make an H1N1 swine flu vaccine, the Health and Human Services department said on Monday.

After helping steer General Motors and Chrysler out of bankruptcy, the head of President Obama's Auto Task force is stepping down, with an existing administrator taking over.

Jon Gosselin showed off his new girrlfriend, Hailey Glassman, during a trip to St. Tropez on Saturday.

Aerospace companies are likely to post mixed quarterly results as weak airline traffic, pressure on aircraft orders and the latest delay of Boeing Co's 787 Dreamliner weigh on parts suppliers.

The average price of gasoline fell to $2.5573 a gallon. A consortium of 12 companies outlined a massive solar project in North Africa called Desertec which aims to provide 15 percent of the energy needed in Europe by 2050. Chinese Suntech Power Holdings Co. Ltd said today it reached agreements to develop four solar power facilities in China

U.S. stocks rallied more than 2 percent on Monday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks' quarterly results may be stronger than expected.

President Barack Obama's nominee for the Supreme Court, Sonia Sotomayor, on Monday promised to apply the law impartially as Republicans questioned her objectivity on the first day of her confirmation hearings.

U.S. stocks rallied more than 2 percent on Monday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks' quarterly results may be stronger than expected.

Russian investment group Digital Sky Technologies has placed a tender offer to purchase up to $100 million of common stock from current and former Facebook employees., according to media reports.

Banks will hog the spotlight in the first big week for this quarter's earnings period as investors attempt to discern whether the surprising improvement in earnings in the first quarter continued through the second quarter of the year.

Fans of HBO shows such as the 'Sopranos' and 'The Wire' can now watch them online if they are Comcast Corp subscribers, in the latest move by the cable TV industry to make TV programs available on the Web.

President Barack Obama nominated Dr. Regina Benjamin for the U.S. surgeon general - the top U.S. public health official,- in a ceremony in the White House Rose Garden on Monday.

A Chinese man has attracted lots of attention online with nearly 400,000 netizens responding to his behavior for throwing bricks at more than 30 cars whose drivers were ignoring red lights at a dangerous crossing, the Xinhua News Agency reported Monday.

Worldwide storage maker Seagate on Monday released its new 15K high performance Cheetah hard drive with capacities up to 600 GB HDD.

Intel Corporation is expected to post strong second quarter earnings despite a downturn in the chip industry.

Amanda Rodrigues, the wife of former boxing champion, Arturo Gatti was on Sunday detained as a suspect in her husband's death over the weekend.

As US dollar's role as international currency was questioned over the global financial crisis, China began its long-awaited initiative to trade with yuan as a step toward reducing China's reliance on the dollar.

Ricardo Lacerda, Citigroup's top investment banker for Brazil and Latin America, will leave his post within the next three months, a local newspaper reported on Monday.

Oil prices slipped on Monday, briefly touching their lowest level in almost two months on concerns over the state of the global economy.

North Korean leader Kim Jong-il has pancreatic cancer and the illness is life-threatening, South Korean broadcaster YTN said on Monday based on information gathered by Chinese and South Korean intelligence sources.

Michael Jackson's father said the King of Pop was not ready perform 50 shows in London, in a TV interview that aired the day the singer was scheduled to start his long-awaited comeback.