IBT Staff Reporter

Warren Buffett's Berkshire Hathaway Inc said on Friday it had modestly raised its stakes in Wells Fargo and US Bancorp , two banks whose market values have fallen dramatically.

Deletes reference in paragraph 12 to having sold out of positions in Ingersoll Rand and Iron Mountain

World number two truck maker Volvo said on Monday its Powertrain unit had agreed with unions on cutting working hours and wages at its operations in Koping, in central Sweden.

Now that the semester is just about over, we thought we'd take a look back and see what makes some college students successful. Sometimes, it's a question of intelligence or insight. And sometimes, it's sheer good luck.

Watson Pharmaceuticals Inc will continue to sell the Ferrlecit iron deficiency treatment in the United States for the rest of the year following an arbitrator's ruling, the company said on Monday, giving Watson a victory for its closely watched product.

Patriot Coal Corp has been striving to allay investor concerns over a potential covenant breach and contract deferrals in the wake of dwindling demand that sent its stock crashing to a life-low in March.

India's Congress party was expected to appoint key reformers to the new cabinet as financial markets soared on Monday on hopes its sweeping election win would herald a strong coalition government.

General Motors Corp faces a government-imposed June 1 deadline to reach sweeping cost-cutting deals with bondholders and its union and has said it is probable it will follow rival Chrysler into bankruptcy.

Stocks extended gains on Monday as a solid quarterly profit and raised forecast from Lowe's Cos Inc , the No. 2 U.S. home improvement retailer, heightened hopes the economic slump was easing and spending was stabilizing.

South Korea's top technology university has developed a plan to power electric cars through recharging strips embedded in roadways that use a technology to transfer energy found in some electric toothbrushes.

Australia's Antarctic research stations, cut off for nine months of the year, are taking lessons learned from space to try to improve the diagnosis and treatment of staff remotely.

Volkswagen froze talks over a merger that could bail out its majority owner Porsche SE , leaving the luxury carmaker scrambling to reassure investors a deal to unite the two was still alive.

The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp to intensify this coming week ahead of an end-of-May deadline set by the Obama administration.

Nymex crude climbed back above $58 Monday after militant attacks on Nigerian energy infrastructure raised fears about supply.

Kingsway Financial Services Inc said its Chief Financial Officer Shelly Gobin has left the company in the latest top-management reshuffle by the insurer seeking to cut costs and divest non-core businesses.

Stocks rose on Monday as a solid quarterly profit and raised forecast from Lowe's Cos Inc , the No. 2 U.S. home improvement retailer, fueled hopes the economic slump was easing and spending was stabilizing.

Nokia unveiled three new cell phone models on Monday, including the cheapest 3G phone to date from the world's top handset maker.

McAfee Inc, the No. 2 computer security company, plans to team up with EMC Corp to offer online PC backup services, and announced the acquisition of a company that protects ATMs against hackers.

British Prime Minister Gordon Brown called for root and branch reform on Monday to defuse an expenses scandal that has damaged the main political parties and put pressure on parliament's most senior figure to quit.

A new car auction world record was set today in Maranello, Italy, with the sale of an iconic, pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) for $12.2 million (Euro 9,020,000) making it the most expensive car to be sold in an auction.

Billionaire Kirk Kerkorian, the controlling shareholder of MGM Mirage , has acquired more shares of the casino operator, according to a securities filing on Monday, and its shares rose more than 7 percent.

A Turkish court ruled on Monday that President Abdullah Gul should stand trial for a fraud case dating to the late 1990s, a move that will highlight tension between the ruling Islamist-rooted party and a conservative secularist establishment.

The new flu strain is spreading widely in the United States and Japan and is likely to circulate worldwide, health officials said on Monday.

Pakistan's army will finish its offensive against Taliban militants in the Swat valley and ensure peace, Prime Minister Yusuf Raza Gilani said on Monday as he rallied the support of political parties.

Lowe's Cos Inc posted better-than-expected quarterly profit on Monday as it saw some strength in outdoor projects during the spring, even as consumers still shunned big-ticket home renovations.

Sri Lankan troops won the final battle in one of the world's most intractable separatist wars, and put the island nation under government control for the first time since 1983, the military said.

Technology companies are detecting signs of improvement in their industries, sending their share prices higher, but demand from consumers and corporations is uncertain.

Myanmar opposition leader Aung San Suu Kyi went on trial on Monday and faces a further five years in detention, sparking threats of tougher international sanctions against the military regime.

Vice President Joe Biden makes the highest-level U.S. visit to Serbia in a quarter century this week seeking a new diplomatic start in the Balkans, a region where Washington twice intervened militarily in the 1990s.