IBT Staff Reporter

The Treasury Department will need to borrow $361 billion in the current April-June quarter, a record amount for the second quarter of the year, it said on Monday.

Barack Obama has used his first 100 days in office to set a foundation for the rest of his presidency. Time will be the judge of how successful his early months have been in resolving major U.S. challenges.

Daimler AG on Monday reached an agreement with Chrysler, the U.S. automaker's owner Cerberus Capital Management and the U.S. Pension Benefit Guaranty Corp to exit its 19.9 percent stake in the company.

Mexico said a new flu virus has killed up to 149 people and it ordered all schools to close across the country on Monday as the disease spread in the United States, Canada and Europe, raising fears of a pandemic.

Secretary of State Hillary Rodham Clinton told representatives of the world's 17 major economies that the United States is fully engaged in issues relating to climate change and is no longer absent without leave in the matter.

3i InfoTech said Monday it will acquire JPMorgan Treasury Services national retail lockbox Business (NRLB) to strengthen its capabilities and their respective core business processes.

The adverse scenario used to test the health of the 19 largest U.S. banks is disturbingly close to current economic conditions, sparking a concern that there might need to be a second stress test, a U.S. financial bailout fund watchdog said on Monday.

The World Bank is set to triple healthcare spending in developing countries to $3.1 billion this year amid signs governments are cutting funding in the midst of a global economic crisis.

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.

General Motors Corp on Monday launched a last-ditch bond exchange offer to avoid bankruptcy and planned to cut 21,000 U.S. hourly jobs in a new restructuring that would see the automaker nationalized under majority control by the U.S. government.

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.

A weird quiet seems to have settled over the country. We're in the midst of the financial crisis, yet it feels like the whole thing has somehow passed. In fact, the ionized air around us suggests we're in the eye of this hurricane—experiencing a moment of calm before the storm whips up again.

Early Monday afternoon, a 5.6 magnitude earthquake shook Mexico City, sending residents into the streets who were already frightened by the latest swine flu outbreak.

Rupert Murdoch's News Corp, hired two technology startup veterans to fill top roles at MySpace after a management shakeup last week aimed at revitalizing the online social network.

Money manager Invesco Ltd and billionaire investor Wilbur Ross are leading a group committing $1 billion to buy toxic bank loans and securities through the U.S. government's Public-Private Investment Program.

The threat of a pandemic triggered by a new swine flu strain that has killed more than 100 people in Mexico will provide a windfall for some makers of drugs, vaccines and protective masks.

Israel is a country in the Middle East, on the narrow region connecting Africa and Asia. The State of Israel occupies most of the region known as the Land of Israel.

Societe Generale dismissed a report in French newspaper Liberation of a new financial scandal at the bank, saying the article had been based on a misunderstanding of its accounts.

A trip to Israel would not be complete without visiting Jerusalem; it’s definitely a must especially for first timers. Jerusalem the golden is like no other city on earth. Sacred to the world's three major monotheistic religions, and was fought over for three millennia by a variety of peoples and nations. Jerusalem is the capital of Israel and some may say the centre of the world.

Facebook regularly attracts more than 200 million people to its website, but the company is now looking for ways to permeate the lives of its users without the need to check-in to the Facebook site.

Exploiting worries over the swine flu outbreak, spammers flooded the Internet on Monday with millions of e-mails peddling counterfeit drugs as remedies and seeking to steal credit card data, a security firm said.

Stocks fell on Monday as concerns that a possible global flu outbreak could dampen optimism about the economy overshadowed a cost-cutting plan from General Motors Corp and gains in biotechnology stocks.

Four men jailed for breaching copyright in connection with Pirate Bay, one of the world's largest free file-sharing websites, should be given a new trial because the judge was biased, a court heard Monday.

College seniors graduating this spring face one of the worst job markets in years, a sharp turnaround from plentiful options a few years ago for graduates.

Specialty glass maker Corning Inc posted a better-than-expected quarterly profit, boosted by cost cutting and improving demand for glass for flat screen televisions and computer monitors.

A college diploma has long been the ticket to a good job, but the deepest economic slump in decades has dampened the dreams of many U.S. college seniors.

Kazakhstan is by far the largest of the Central Asia's states of the former USSR. It has borders with Russia, China, and the Central Asian countries of Kyrgyzstan, Uzbekistan, and Turkmenistan. It is the world's ninth biggest country by size, and it is more than twice the size of the other Central Asian states combined. Its lack of significant historical sites and endless featureless steppe have...

Oil prices fell 4 percent on Monday on worries a flu outbreak in Mexico could become a pandemic and hurt the global economy and air travel.

U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.