IBT Staff Reporter

Time Warner Inc said on Monday it is asking some bondholders to change credit terms, a move expected to pave the way for a spin-off of its beleaguered Internet unit AOL.

A powerful earthquake struck central Italy early Monday, killing more than 100 people, making up to 50,000 homeless and flattening entire medieval towns while residents slept.

Shares of Sun Microsystems Inc tumbled 22.5 percent after it rejected a $7 billion buyout bid from IBM, leaving the smaller server and software maker vulnerable to lawsuits from shareholders nervous about its viability as a stand-alone

Awakening to the sounds of rustling leaves and distant ocean surf, you stretch out in bed, enjoying your first few moments of the day. Around you, your treehouse suite at California’s Post Ranch Inn—set on stilts among branches high above the Pacific coastline—seems to bend and stretch, too.

North Korea launched a Taepodong-2 rocket over the Sea of Japan on Sunday. The launch rattled the North's neighbors and countries around the world. The U.S. and its rallies asked for quick punishment at an emergency U.N. Security Council meeting held hours after launch.

Results of a late-stage trial of MAP Pharmaceuticals Inc's inhaled migraine drug will represent a critical moment for the company given the recent failure of its other key drug to treat asthma in children.

The star-crossed $7.4 billion Chrysler buyout is not just a headache for private equity firm Cerberus Capital Management, but some of the biggest banks on Wall Street as well.

Stocks fell on Monday after a warning from a prominent analyst revived worries over the health of banks and the potential collapse of a takeover of Sun Microsystems bruised sentiment in the technology sector.

Cisco Systems said Monday it will be ‘active’ with acquisitions despite the economic downturn, but its shares were thrashed by downgrades.

New York's attorney general brought civil fraud charges against hedge fund operator Ezra Merkin on Monday, saying he duped investors by secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud.

Citigroup Inc named Michael Corbat permanent chief executive of Citi Holdings, a unit housing the Smith Barney brokerage and a variety of businesses and riskier assets that may be shed.

Private equity investors intend to continue making new investment in emerging markets despite the global economic crisis, a survey showed on Monday, seeing them as offering the only growth in a faltering world.

A deadly earthquake hit Central Italy on Monday, killing at least 150 people and leaving as many as 50,000 homeless.

Oil prices fell more than 4 percent on Monday to near $50 a barrel as U.S. stock markets sputtered on worries over the banking sector and the dollar gained against the euro.

Student loan company Sallie Mae plans to move its overseas operations back to the United States, creating 2,000 domestic jobs, in what analysts called an attempt to curry favor with the Obama administration.

U.S. stocks slid on Monday, as a prominent analyst warned the bank sector's problems still have further to run and the potential collapse of a takeover of Sun Microsystems hurt sentiment in the technology sector.

Congressman Dennis Kucinich on Monday asked the U.S. Securities and Exchange Commission to determine if Bank of America Corp violated federal securities laws by not disclosing Merrill Lynch & Co's plan to pay $3.62 billion of bonuses to top executives.

U.S. stocks extended losses on Monday, sending the S&P 500 down 2 percent, as a prominent banking analyst gave a bleak view on the bank sector and the collapse of a potential takeover of Sun Microsystems punctured recent enthusiasm about the technology sector.

T-Mobile is set to roll out two new devices that will run on the Google Android platform early next year.

New York's attorney general brought civil fraud charges against hedge fund operator Ezra Merkin on Monday, saying he duped investors by secretly steering $2.4 billion in client money into Bernard Madoff's Ponzi fraud without their permission.

Egyptian police have detained a Muslim Brotherhood blogger who backed calls for a national day of protests against the government, security sources said on Sunday.

Ford Motor Co said on Monday it had slashed automotive debt by 38 percent, or $9.9 billion, bolstering its finances amid a deep auto industry downturn and sending its shares up more than 13 percent.

The U.S. Treasury on Monday extended the deadline for fund managers to apply to its toxic securities purchase program by two weeks and said it eased selection criteria for these firms.

Ford Motor Co has reduced its automotive debt by 38 percent, or $9.9 billion, part of a series of moves to bolster its finances amid a deep industry downturn, sending its shares up more than 11 percent.

Stocks slid on Monday, as bank shares fell after a widely-followed analyst recommended investors reduce or sell holdings of several large bank stocks, sapping recent optimism on the health of the financial sector.

Five central banks in Europe, Japan and the United States said on Monday they have agreed to currency swap lines that enable the Federal Reserve to provide foreign currencies to U.S. financial institutions.

The U.S. Treasury on Monday extended the deadline for fund managers to apply to its toxic securities purchase program by two weeks, and said it widened its criteria for selecting these firms.

Shares of Sun Microsystems Inc tumbled 23 percent on Monday after the company rejected rival computer and software maker International Business Machines Corp's $7 billion offer.

Oil prices fell toward $51 a barrel on Monday as stock markets sputtered, erasing early gains on expectations that rich nations' efforts to stimulate their economies may help end the global downturn sooner than expected.