IBT Staff Reporter

JPMorgan Chase & Co must allow shareholders to vote on measures that would tie executive bonuses to the bank's long-term stock performance, U.S. regulators have ruled.

Intel Corp. accused Advanced Micro Devices Inc. of breaching the terms of a cross licensing agreement between the two rival chip makers, threatening the future of Globalfoundries, the joint venture recently set up by AMD to handle its manufacturing operation.

Stocks fell on Monday after American Express Co said the number of people struggling to make credit card payments grew, erasing earlier optimism that banks could return to profit in the downturn.

President Barack Obama voiced outrage on Monday over large bonus payments awarded to top employees of insurer AIG and ordered his treasury secretary to legally block them if possible.

Cisco Systems Inc will start to sell computer servers targeted at data centers, a move that pits the company against partners such as Hewlett-Packard Co and IBM.

Soldiers in Madagascar seized a presidential palace and the central bank on Monday in a show of force further isolating President Marc Ravalomanana in his power struggle with opposition leader Andry Rajoelina.

The Hearst Corp plans to transform its ailing Seattle Post-Intelligencer into an online business, ending speculation about the fate of the 146-year-old newspaper as crumbling advertising wallops the industry.

U.S. bank stocks, which had their best week on record last week, powered higher again on Monday amid optimism that banks are succeeding in efforts to restore profitability, and that a change to accounting rules might alleviate feared capital shortfalls.

Wells Fargo & Co's chairman lambasted the U.S. government for imposing new curbs on lenders that receive federal bailout money, and called the federal plan to subject big banks to stress tests asinine.

President Barack Obama is renewing pressure within his administration to find legal ways to block $165 million in bonus payments to American International Group employees after the government determined last week that the giant insurer was legally bound to give retention pay to workers.

President Barack Obama moved to boost U.S. job creation on Monday by making it easier for small business owners to borrow money and by spending up to $15 billion to ensure credit is available for small business loans.

Elvis Presley memorabilia including a performance jumpsuit and a grand piano he played at Graceland went on auction on Monday in a demonstration of his commercial appeal 31 years since the King left the building.

As many as 75 percent of U.S. doctors will be writing electronic prescriptions within five years, thanks to new federal spending to encourage e-prescribing, according to a forecast released on Monday.

No one yet has any real idea about when the global financial crisis will end, but one thing is certain: government budget deficits are headed into the stratosphere. Investors in the coming years will need to be persuaded to hold mountains of new debt.

As many as 75 percent of U.S. doctors will be writing electronic prescriptions within five years, thanks to new federal spending to encourage e-prescribing, according to a forecast released on Monday.

Stocks rose for a fifth day in a row on Monday after Barclays joined other major banks in saying it had a strong start for 2009, fueling hopes that the beaten-down sector may be stabilizing.

President Barack Obama moved to boost U.S. job creation on Monday by making it easier for small business owners to borrow money and by spending up to $15 billion to ensure credit is available for small business loans.

President Barack Obama voiced outrage on Monday over large bonus payments awarded to top employees of insurer AIG and ordered his treasury secretary to legally block them if possible.

President Barack Obama moved to boost U.S. job creation on Monday by making it easier for small business owners to borrow money and by spending up to $15 billion to ensure credit is available for small business loans.

Telecommunications firms vying for $7.2 billion in funding for broadband expansion urged regulators to allow all companies that have current government licenses to be eligible to apply.

Chrysler LLC's proposed deal with Fiat SpA is worth up to $10 billion for the cash-strapped U.S. automaker and could preserve 5,000 North American manufacturing jobs, Chief Executive Bob Nardelli said on Monday.

Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year when the government propped up the bank with $45 billion of capital.

Goldman Sachs and a parade of major European banks, including Deutsche Bank , France's Societe Generale and the UK's Barclays , were major beneficiaries of more than $90 billion of money paid out by AIG in the first three-and-a-half months after its bailout by the U.S. government last September.

President Barack Obama expressed outrage on Monday over hefty bonus payments awarded to employees of insurer AIG and said he directed his treasury secretary to take all legal measures to block them.

The Dow industrials and the S&P 500 climbed on Monday as Barclays said it had a strong start for 2009, joining other major banks, and added it discussed selling one of its units.

British bank Barclays Plc said it is considering selling iShares, part of its fund management arm, and said it was trading strongly, sending its stock up by more than a fifth.

U.S. homebuilder sentiment was steady at lower levels in March as a harsh economic environment kept potential buyers on the sidelines, the National Association of Home Builders said on Monday.

Oil rose to more than $47 on Monday, reversing earlier losses, on the view that OPEC cuts had started to take effect and a rally in equity markets.

Goldman Sachs Group Inc and a parade of European banks were the major beneficiaries of $93 billion in payments from AIG -- more than half of the U.S. taxpayer money spent to rescue the massive insurer.