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Focus Media Plunges on Muddy Waters Allegations

Shares of prominent Chinese digital media and advertising company Focus Media Holding Ltd plunged as much as 66 percent on Monday, after short-selling firm Muddy Waters accused the company of significant overstatement of the number of screens in its LCD network, among other charges.

Fed's Lockhart: prefer language change to bond buys

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A top Federal Reserve official said on Monday that given recent improvements in the U.S. economy, any further central bank actions to boost growth should be through clearer communications about policy, rather than expanded bond buying.
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AT&T investigates security breach attempt

AT&T Inc, the No. 2 U.S. mobile provider, said it is investigating an organized and systemic attempt to access wireless customers' information but that it did not believe any accounts were breached.
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Alleghany to buy Transatlantic for $3.4 billion

U.S. property and casualty insurer Alleghany Corp said on Monday it would buy reinsurer Transatlantic Holdings Inc for $3.4 billion in cash and stock -- though a sharp drop in Alleghany shares meant a separate, hostile bid for Transatlantic was at least temporarily more valuable.
Clouds pass over Capitol Hill in Washington

Super Committee Chairs Announce Deadlock

The members of the super committee officially announced a failure to reach a deal on cutting at least a $1.2 trillion hole in the federal budget deficit, ahead of its official Nov. 23 deadline. The move has sent lawmakers searching for a new plan and ways to dodge blame.
An attendee plays the PlayStation Move video game "Resistance 3" during the Electronic Entertainment Expo or E3 in Los Angeles

Video game deals to steal Black Friday spotlight

Retailers are saving some of their deepest discounts on Black Friday for video game products, with large chains Wal-Mart and Best Buy putting some rock-bottom prices tags on hot games to lure shoppers into stores.
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Focus Media plunges after Muddy Waters charges

U.S.-listed shares of Focus Media Holding Ltd plunged to multiyear lows on Monday after short-selling firm Muddy Waters accused the company of significant overstatement of the number of screens in its LCD network, among other charges.
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GE opening first offices in Iraq

General Electric Co is opening its first offices in Iraq, in the cities of Baghdad, Basra and Arbil, part of the largest U.S. conglomerate's effort to boost its presence in the resource-rich Middle East.
An electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton

S.Africa stocks book biggest drop in 7 weeks

South African stocks posted their biggest one-day drop in seven weeks on Monday, tumbling 2.5 percent as concerns about debt burdens in the United States and Europe sparked a sell-off in resources firms and others sensitive to global growth.
Libya"s interim prime minister Abdul Raheem al-Keeb

Libya Will Have New Government on Tuesday: PM

Libya's prime minister-designate said on Monday he was ready to name a government to steer the country to its first fully democratic elections but gave no details of a line-up that may involve a delicate power balance in a fragile new state.
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October existing home sales rise 1.4 percent

U.S. existing home sales unexpectedly rose in October as low interest rates for mortgages and rising rents led more homebuyers into the market, the National Association of Realtors said on Monday.
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Olympus says panel finds no criminal links yet in M&A deals

Japan's Olympus Corp said on Monday that a third-party panel appointed by the company to look into an accounting scandal has, so far, found no evidence that funds from its M&A deals went to organized crime syndicates or that yakuza gangsters were involved.
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Areva denies France job: cuts report

France's Areva denied a report by Agence France Presse that said the state-owned nuclear reactor maker was planning over 1,000 job cuts in France as part of a strategic overhaul under new management.
Rick Perry

Perry Signs Iowa Christian Group's 'Marriage Vow'

Rick Perry has become the third Republican presidential candidate, along with Michele Bachmann and Rick Santorum, to sign a marriage vow promoted by the Family Leader, a conservative Christian group in Iowa.
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Wall Street tumbles on Europe, recession worries

U.S. stocks tumbled on Monday, with the Dow turning negative for the year, as concerns about heavy debt loads both in the United States and Europe heightened worry about recession and increased volatility.

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