CHINA

Leila Lopes, a 25-year old dusky beauty from Angola won the coveted Miss Universe 2011 title, beating the contestants from Ukraine (23-year-old Olesia Stefanko, 1st Runner-up) and Brazil (Priscila Machado, 2nd Runner-up). The 3rd Runner-up was Miss Philippines and 4th Runner-up was Miss China.

The rupee rose on Tuesday breaking a six-day losing streak and clawed back from the 14-month low touched in the previous session comforted by a firm euro and gains in domestic equities.

It's not Shamcey Supsup of Philippines, as an online poll suggested, who named the winner of the Miss Universe 2011 contest. The crown has been awarded to someone who didn't even appear in the list of top 10 voted contestants - Miss Angola, Leila Lopes.

Republican presidential hopefuls meet in Florida on Monday for another debate that is likely to see front-runners Rick Perry and Mitt Romney jockeying for the lead.

Miss Universe 2011 is is the gorgeous Miss Angola Leila Lopes!

Xu Hengrui scored 526 points in law entrance examination at Renmin University, one of China's most prestigious universities.

Asian stocks steadied and the euro held above a seven-month low against the dollar on short-covering on Tuesday, after a report that Italy may get financial support from China lifted Wall Street in late trade but did nothing to ease fears that Europe is descending into a banking crisis.

On the day President Barack Obama sent his $447 billion jobs bill to Congress in a bid to solve America's unemployment problem, the Bank of America delivered an economic blow -- announcing plans to slash as many as 30,000 jobs.

Chipmaker Broadcom Corp plans to buy NetLogic Microsystems Inc for about $3.7 billion to expand its lineup of chips used in wireless network equipment to take advantage of growing demand for mobile data services.

Surging auto sales in China could give a lift to palladium, a precious metal that has a critical industrial function in the catalytic converters of cars and trucks.

China recognized the rebel National Transitional Council (NTC) as Libya's ruling authority, the Chinese Foreign Ministry said on Monday, saying the Council had vowed to respect Beijing's interests after tensions between the two sides.

Bank of America tried to grow at the peak of the U.S. financial disaster several years ago, acquiring Countrywide Mortgage and Merrill Lynch, the investment bank, but now the Charlotte, N.C.-based company is destined to shrink. The company disclosed plans on Monday to cut 30,000 jobs, as the nation's largest bank tries to cut costs as the U.S. economy continues in a slow-growth, high unemployment mode.

FriendFinder Networks Inc, the publisher of adult magazine Penthouse, said it will buy social commerce website JigoCity for up to $65 million in stock and warrants, to tap into fast-growing social networking markets like China and Asia-Pacific.

For people who have stood at a monument or scanned a landscape -- the Great Wall of China, for instance, or the U.S. Grand Canyon -- and wondered how it looked 100 or more years ago, there is now an app for you.

Campaigns to protect the shark species have seen progresses last week, with the California Senate passing the ban on sales and possession of shark fins last Tuesday. In Toronto, the City Council voted unanimously to support a city-wide ban on the sales and consumption of shark fin on Friday.

Gold fell further on Monday after posting its worst closing since June last week but bargain hunters could cushion the fall, while escalating worries about Europe's ability to resolve its debt crisis sent bullion priced in euro to a record high.

As Apple Inc. is rumored to be gearing up for the major event in mid-September, the next-generation iPhone 5 could be in the hands of consumers in first week of October.

Gold in India extended losses on Monday afternoon, following similar trend overseas, although a weaker rupee kept the downside limited, dealers said.

Near the peak of General Motors Co's financial crisis, Opel workers laid a coffin at the feet of the brand's founder Adam Opel to mark what they considered the death of the brand.

European index futures tumbled on Monday, following a slide in Asian equities, and the euro slumped to a 10-year low against the yen after the resignation of a top European Central Bank official cast further doubt on the region's ability to tackle its worsening sovereign debt crisis.

The euro hit a six-month low against the dollar and a 10-year trough versus the yen, falling below key technical levels and option barriers on worries that the euro zone's support for Greece is wobbling and the country may be forced to default on its debt.