IBT Staff Reporter

New York state's top legal officer filed a court motion on Monday to compel former Merrill Lynch CEO John Thain to discuss $4 billion in employee bonuses, ratcheting up its probe into a hot-button issue in the recession. New York Attorney General Andrew Cuomo alleged that Thain, who was ousted from Bank of America Corp in January just three weeks after the companies merged, said Bank of America ...

have truly outstanding fundamentals, it seems to me that you ought to be thinking about that as investors and not just the short-term concerns. The deal will allow Nova to strengthen its balance sheet so it can keep operating and expanding, the companies said. IPIC agreed to give Nova a $250 million backstop facility to improve its liquidity. Meanwhile, Nova won a new $150 million credit faci...

Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.

U.S. regulators including the Treasury and Federal Reserve issued a joint statement saying the government stands firmly behind the banking system and said the government would ensure the banks had enough capital and liquidity to provide credit needed for economic growth.

Navigation device maker Garmin posted lower-than-expected quarterly results as sales of its gadgets used in cars dropped, but shares rose 15 percent as the company reduced its inventory.

Top Mexican broadcaster Televisa is seen posting an 11 percent fall in net profit during the fourth quarter of 2008, hit by higher tax reserves and a steep fall in the value of the peso currency.

Allen Stanford has millions of dollars worth of assets on the Caribbean island of St. Croix, but U.S. regulators have not seized any in their probe of the Texas billionaire, a U.S. Marshal said on Monday.

There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average meant ignominy.

Lego faces intense global competition in the $50 billion global toy market and the challenge of children. Pretax earnings at Europe's biggest toy manufacturer rose to 1.9 billion crowns ($321.3 million) from 1.4 billion in 2007.

Revenue fell 33 percent to 108.4 million euros mainly due to a 36 percent drop in clearing and settlement of transactions to 38 million euros, as well as a drop in revenue from trading in the cash market.

U.S. stocks fell on Monday due to uncertainty about the likely success of the government's latest bid to shore up beleaguered banks, including Citigroup , and a drop in technology shares pulled indexes lower. Initially, investors welcomed reports that the government could convert an earlier investment in Citigroup into a larger common stock holding as a sign the United States is ready...

Merger and acquisition activity could pick up in the manufacturing industry over the second half of the year as better-capitalized companies start to take advantage of relative bargains, a high-level Barclays investment banker said on Friday.

is subject to ratification by active UAW-Ford members and other conditions, including concessions from other stakeholders. The proposed modifications were expected to be presented to the union's local Ford leadership at a council meeting early this week, according to the unions. The modifications will protect jobs for UAW members by ensuring the long-term viability of the company, UAW Pres...

U.S. agencies detailed financial rescue plans on Monday and insisted they did not want to nationalize banks as investors fretted over how struggling firms will cope with rising recession-driven losses.

Allen Stanford has millions of dollars worth of assets on the Caribbean island of St. Croix, but U.S. regulators have not seized any in their probe of the Texas billionaire, a U.S. Marshal said on Monday.

Just a month into his presidency, Barack Obama has had to deal with everything from Cabinet missteps that have strained his no-drama Obama image to an economic crisis that seems to worsen by the day.

A bomb killed a French teenager and wounded at least 20 other people in a crowded square near a popular tourist bazaar in the Egyptian capital Cairo on Sunday, officials said.

Germany and Sweden ruled out underwriting rescue plans for Opel and Saab while Canada's Industry Minister warned on Monday that the crisis-hit North American car industry was at the precipice of nonexistence. Underlining the severity of the crisis battering the car industry, with sales plunging as the credit crunch hits consumer confidence, assembly lines at some Volkswagen p...

The Pakistan army said on Monday it had ceased operations against Taliban militants in the northwestern valley of Swat, and an Islamist cleric asked for troops to be shifted to safer places to give peace a chance.

NATO forces in Afghanistan are confident member states will provide thousands of extra troops as temporary reinforcements for presidential elections in August, the deputy commander of NATO-led forces said on Monday.

PUTHUKUDIYIRUPPU, Sri Lanka (Reuters) - After 25 years of war, Sri Lanka army Brigadier Shavendra Silva is measuring the last of the fighting in days.

Somalia's hardline Islamist insurgent group al Shabaab pledged Monday to launch more attacks on African Union peacekeepers after the deadliest strike yet killed at least 11 soldiers from Burundi.

Japanese Finance Minister Kaoru Yosano already has three key cabinet posts. Now some pundits say he looks well-placed to take the top job too.

A British resident held at Guantanamo Bay for more than four years returned to Britain a free man on Monday and accused the U.S. government of inflicting medieval torture on him -- with British collusion.

Stocks retreated on Monday and the S&P briefly fell more than 1 percent as financials relinquished earlier gains fueled by reports Citigroup is in talks to give the U.S. government a larger stake.

Pope Benedict named the 59-year-old archbishop of Milwaukee as the next archbishop of New York, the highest profile post in the U.S. Catholic Church, the Vatican said on Monday.

Prime Minister Ehud Olmert will replace Israel's lead envoy to Egyptian-brokered truce talks with Hamas after he publicly criticized the government's negotiating strategy, officials said on Monday.

Abu Dhabi state-owned International Petroleum Investment Co launched a $500-million takeover bid for Nova Chemicals Corp on Monday, a friendly deal to rescue the raw plastics maker from severe financial pressure due to its high debt. Under the deal, IPIC is offering $6 a share for all of the outstanding shares of Nova Chemicals, which is based in Canada but has its executive office...

Stocks retreated on Monday and the Nasdaq fell more than 1 percent as a sell-off in technology shares overshadowed gains in banks after reports that Washington could end up with a big stake in Citigroup common stock. Large-cap technology companies led the Nasdaq lower, including Apple , which fell more than 2 percent. The declines reversed an earlier bounce fueled by gai...