GERMANY

Carmakers are bracing for lower sales in Europe this year as incentive programs end, while elsewhere companies are seeing opportunities in their competitors' product recalls.

LyondellBasell has rejected Reliance Industries' offer that values the bankrupt firm at $14.5 billion.

Greece's debt crisis may end up helping Europe in the long run if it pressures governments to start addressing the potentially colossal costs of pensions and healthcare in coming decades.

General Motors has tripled its funding of European arm Opel and cut its request for state aid in a bid to win over European governments and labor.

Sustainable Energy Technologies Ltd, a solar equipment maker that recently relocated to Toronto from Calgary, may soon land its first large-scale orders in its new home province, the world's newest go-to region for solar power.

General Motors will discuss making further investments at its European unit Opel, a person familiar with the matter said on Monday.

The European Union urged Greece on Monday to agree additional austerity measures within days to tackle a fiscal crisis that has shaken the euro zone and promised to help Athens overcome its debt problems.

Stocks rose on Monday, boosted by AIG's deal to sell its Asian life insurance unit and prospects for solving Greece's debt problems, which have increased fears about the outlook for global recovery.

U.S. stocks rose on Monday, boosted by several mergers, including a deal by AIG to sell its Asian life insurance unit, and as a possible resolution appeared for debt-troubled Greece in the form of European Union aid.

The U.S. stock market rallied on speculation of a Greece bailout and a report that showed the seventh consecutive monthly expansion of manufacturing actives.

Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rose 0.5 to 0.7 percent, pointing to a higher start to Wall Street on Monday.

Britain's Allergy Therapeutics (AGY.L) swung to a first-half pretax profit, helped by cost cuts, and said it was comfortable with the full-year market view, sending its shares up nearly 10 percent.

Global markets are recovering as various media reports surfaced that Germany and France are planning a 30 billion euro Greece bailout.

The Vancouver Winter Olympics ended in spectacular triumph on Sunday with a dazzling closing ceremony that mixed traditional pomp with self-deprecating humor to put the icing on 17 days of unrelenting drama and action.

Germany's family-controlled Merck KGaA agreed to buy U.S. biotech tool maker Millipore for $6 billion to diversify away from its embattled drugs business.

German fashion house Tom Tailor aims for a listing on Frankfurt's stock market by June, it said on Monday, just weeks after British fashion retailer New Look gave up similar plans due to turbulent financial markets.

Snowstorms have repeatedly battered parts of the United States this winter, making it more difficult to discern returning weakness in the economy from

Greece may soon announce new steps to cut its budget deficit, a government minister said on Sunday, amid signs that Athens might be nearing a deal with European Union governments to ease the Greek debt crisis.

Secretary of State Hillary Clinton flies to Latin America on Sunday, working to buff a lackluster U.S. image in a region where Brazil is emerging as a regional power with global aspirations.

Germany, France and the Netherlands plan to buy Greek bonds to help Athens cope with a severe debt crisis, a German member of the European Parliament said on Saturday.

Italy's Giuliano Razzoli whooshed through sleet and fog to lead in the first run of a tricky men's slalom race on Saturday that tripped up nearly half the racers including Olympic comeback kid Bode Miller.