IBT Staff Reporter

Former chief executive officer of Merrill Lynch & Co. John Thain has resigned from Bank of America Corp, three weeks after the companies merged. Last week, Merrill Lynch reported greater than expected losses for its fourth quarter, forcing BofA to receive additional government bailout funds.

On Thursday, an Egyptian security official said three Palestinians were injured when a tunnel used by smugglers collapsed on the border between Egypt and the Hamas-ruled Gaza Strip.

Below are the reactions from Oscar nominated stars like Angelina Jolie, Viola Davis, Josh Brolin, director Gus Van Sant, A.R. Rahman and director Stephen Daldry.

Former amateur bodybuilder Jay McGwire, the youngest brother of baseball player Mark McGwire, reveals in his book details of Mark McGwire's use of performance enhancing drugs.

President Barack Obama signed an executive order on Thursday to require that a military prison in Guantanamo Bay be closed within one year.

Apple adds more power to the older version of the MacBook to make it more appealing to potential buyers who don't have pockets deep enough to purchase a new model of the Apple unibody MacBook.

The 'Just Dance' singer, Lady Gaga, wearing sexy lingerie and a pair of killer heels was spotted in London making meaty Italian dishes for lovers.

Preliminary investigations into the dealings of fraud-hit technology outsourcer Satyam Computer Services have revealed that its promoters had forged documents and inflated the headcount of employees to siphon off funds from the company.

Ford on Wednesday said it will introduce an advanced dual-clutch Power Shift six-speed automatic transmission in North America in 2010.

Sony Corp warned Thursday of a $2.9 billion annual operating loss citing weak demand, a stronger yen and reorganization expenses which would mean the first loss for the company in 14 years.

George Clooney plans to return back to the medical drama that launched his career NBC's ER.

An internal email written by Microsoft CEO Steve Ballmer, detailing plans to cut 5,000 jobs in 18 months as well as other cost cuts was released Thursday morning.

As all recovery hopes are now pinned on the efficacy of Washington's next stimulus package, President Obama has opened the bidding at $825 billion. Most Republicans

John Travolta and his wife Kelly Preston are being blackmailed - just weeks after their son Jett died from a seizure.

U.S. stocks fell Thursday after being up and down yesterday on quarterly reports from Microsoft and jobless and housing data in the U.S. which signaled the recession is deepening.

Heath Ledger's accidental passing away marks one year on Thursday. As a reminder of the talent lost, he received an Oscar nomination for best supporting actor for his performance as the deranged Joker in The Dark Knight.

Microsoft Corp. said Thursday its quarterly profit missed analysts' expectations and it would cut more than 5,000 jobs to reduce costs in the next year and a half.

The Curious Case of Benjamin Button, Frost/Nixon, Milk, The Reader, and Golden Globe winning best picture Slumdog Millionaire, were all nominated for an Academy Award as best picture on Thursday

In a surprising move, Caroline Kennedy stepped out of the race to replace Hillary Rodham Clinton in the U.S. Senate.

The number of first-time jobless benefit claims rose to the highest level in 26 years as companies shed jobs in the midst of a steep economic recession.

The unstable international financial crisis has also made a dent in China. In 2008, China experienced a growth rate of 9 percent; its lowest growth rate since 2001.

According to a report, two government officials the, President is expected to give orders soon regarding the closure of Guantanamo. They also say the President will begin overhauling U.S. national security policy on Thursday.

Human rights researcher; Yasser Abdel Ghafar had the daunting task of interviewing Gaza residents and compiling a list of the dead or wounded Gazans in the Israeli offensive which began in late December and ended Tuesday.

On Wednesday the last of Israel's troops left the Gaza Strip.

The decline of democracy in Zimbabwe should be a lesson to other southern African leaders, Nelson Mandela's wife Graca Machel said on Wednesday.

President Barack Obama's historical inauguration was not the most watched inauguration by U.S. television viewers in history as previously expected.

Nielsen Media Research compiled a list of the top 20 shows watched during prime time for the week, Jan. 12 to 18.

The Parents Television Council is not happy with Britney Spears new song.

81-year-old Kelly Kellerman, playing the role of Lenny in the Sarasota Senior Theater's production of Of Mice and Men, was shot in head by loaded gun during rehearsal on Sunday.