IBT Staff Reporter

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.

President Barack Obama's administration will face a big test on fighting climate change when it seeks to determine if ethanol, the top U.S. alternative motor fuel, cuts greenhouse gas emissions.

The largest U.S. banks made the case to regulators on Monday that they have the financial firepower to withstand a deeper recession, as Bank of America denied a report it was trying to raise capital of $10 billion.

Pepsi Bottling Group Inc said on Monday its board has rejected a proposal by PepsiCo to buy the remaining stake in the bottler, citing the offer as grossly inadequate.

Chrysler asked the U.S. Bankruptcy Court on Monday for a swift hearing into its planned sale to Italy's Fiat SpA , eliciting immediate objections from some secured lenders.

China increased its goal for wind power generation capacity by the year 2020 to as much as 100 000 megawatts, from 30 000 megawatts that the Chinese government had set 18 months ago, Chinese newspaper China Daily reported on Monday.

Democrats in the U.S. House of Representatives will seek passage in coming weeks of $94.2 billion in emergency money for the wars in Iraq and Afghanistan and other programs, including $2 billion more to prepare for an influenza pandemic.

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.

America's premier drugstore, Walgreen Co on Monday said its April sales rose 11.1 percent to $5.3 billion from $4.8 billion same period a year earlier, however shares fell to 0.29 percent.

U.S. stocks rallied on Monday, driving the S&P 500 into positive territory for the year as investors bet banks' capital shortfalls may be manageable and housing data fueled hopes the recession is easing.

Research in Motion Ltd's BlackBerry Curve moved past Apple Inc's iPhone in the first quarter to become the best-selling consumer smartphone in the U.S., research group NPD said on Monday.

The U.S. Centers for Disease Control and Prevention (CDC) said Monday on its website there are 36 states and 286 cases which have been laboratory confirmed hit by the new flu. The H1N1 new flu virus appears to be widespread in the United States and seems to be hitting mostly younger people.

The Obama Administration on Monday detailed its plan of raising more than $200 billion over the next 10 years by curbing what it says are corporate loopholes that allow companies investing overseas to gain an unfair advantage over companies that invest in the U.S., mainly by deferring taxes on profits earned overseas.

On Monday, Research in Motion (RIM) launches the new BlackBerry Enterprise Server 5.0 designed to adopt large-scale enterprises workforce.

Research in Motion Ltd's BlackBerry Curve moved past Apple Inc's iPhone in the first quarter to become the best-selling consumer smartphone in the U.S., research group NPD said on Monday.

Warren Buffet is the largest shareholder in Wells Fargo. He claims it is a Fabulous Bank and would like to buy it all. Is he serious or is he just talking up his shares?

Stocks rose on Monday, pushing the benchmark S&P 500 above 900 for the first time since early January, on bets that banks won't have to raise as much capital as previously thought, and housing data fueled hopes that the recession is ebbing.

The Supreme Court is ordering a federal appeals court to re-examine its ruling in favor of CBS Corp. over Janet Jackson's wardrobe malfunction at the 2004 Super Bowl.

The Boston Globe's biggest union won some breathing space after its owner, The New York Times Co, said it will not file notice of its intention to close the newspaper, at least for now.

A group of investment funds sought on Monday to block Chrysler's planned alliance with Fiat SpA, while the Italian automaker advanced its bid to overhaul the industry by setting its sights on Germany's Opel.

JPMorgan Chase & Co may be called on by regulators for more acquisitions, as the U.S. banking sector is likely to see further consolidation, Chief Executive Jamie Dimon said on a webcast call on Monday.

President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and that allow wealthy people to evade taxes using offshore accounts.

President Barack Obama on Monday proposed removing tax incentives that he says encourage U.S. multinational firms to ship jobs overseas.

Chrysler asked the U.S. Bankruptcy Court on Monday for a swift hearing into its planned sale to Italy's Fiat SpA, eliciting immediate objections from some secured lenders.

The United States' largest banks made their case to regulators on Monday that they have the financial firepower to withstand a deeper recession, as Bank of America denied a report it was trying to raise $10 billion.

The lightest and thinnest smartphone of RIM will be available over the counter of AT&T early this summer.

Stocks rose on Monday as investors bet that the government's stress tests won't force banks to raise as much capital as originally thought and housing data fueled hopes that the economic slump is abating.

PepsiCo not just into Pepsi Bottling interest, shares fell Pepsi Bottling Group Inc on Monday said shares fell after it rejected a PepsiCo offer to acquire outstanding shares in common stock on inadequate value and not in the best interest of the company and its stockholders.

Research In Motion is planning a next-generation version of its touchscreen BlackBerry Storm smartphone as part of a continuing push into the retail market, its co-CEO said on Monday.