U.S. stocks rallied broadly to fresh 13-month highs on Monday after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth.
Gold raced to a record high above $1,140 an ounce on Monday, gaining 2 percent as a weakened dollar boosted funds' risk appetite for investments across the board.
Cisco Systems Inc raised its bid for Tandberg ASA 10 percent to 19 billion Norwegian crowns ($3.41 billion), a move widely expected to win over shareholders of the video conferencing company.
Microsoft is launching its Zune media brand outside the US for the first time, a move to grab shares from the dominating Apple iTune after failure to compete with iPod.
U.S. stocks rose on Monday to 13-month highs led by energy and materials shares even as Federal Reserve Chairman Ben Bernanke said the economic expansion probably will not be as robust as hoped.
J.P. Morgan is close to buying out British stockbroker Cazenove in a deal likely to be worth almost 1 billion pounds ($1.7 billion) and trigger windfalls for dozens of London's top dealmakers.
The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday. In a rare commentary on the value of the dollar, Bernanke drew a link between its current weakness and inflation risks.
Criminal gangs are making millions of dollars out of the H1N1 flu pandemic by selling fake flu drugs over the internet, a web security firm said on Monday.
Federal Reserve Chairman Ben Bernanke said on Monday that the U.S. central bank was monitoring the declining value of the dollar closely, saying the Fed was committed to both jobs growth and price stability.
Google is to talk with Chinese writers and publishers over copyright violations, a move following the search engine's settlement with some Western countries, Global Times reported on Monday.
Lowe's Cos Inc , the second-largest U.S. home improvement chain, posted a 30 percent drop in quarterly profit on Monday as consumers put off big renovations while the U.S. housing market remained sluggish.
GM Repaying Loans; Retail's Rise; Dollar Dominance to Last
Commodity-related stocks led Wall Street to 13-month highs on Monday, as oil and metals prices rose, lifted by a weak U.S. dollar.
European carbon emissions futures rose slightly on Monday, unaffected by confirmation from world leaders that a legally binding climate pact will be delayed until 2010 or later.
A coalition of energy companies, automakers and shipping firms unveiled on Monday their cure for America's oil addiction -- electric vehicles.
A stronger yuan is part of the policy mix that Beijing needs to increase domestic consumption and help ease global imbalances, the head of the International Monetary Fund said on Monday.
Japan's Canon plans to buy Dutch copier and printer maker Oce for 730 million euros ($1.1 billion), in a challenge to rivals Ricoh and Xerox in the hunt for growth.
General Motors Co posted a quarterly loss on Monday but said stabilizing sales since its bankruptcy would allow it to begin paying down $8.1 billion in debt to the United States and Canada next month.
Capital One Financial Corp and Discover Financial Services reported credit card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead.
U.S. retail sales rebounded in October as vehicle purchases rose even without support from government incentives, a Reuters survey predicted, which could allay some fears over the strength of the economy's recovery.
General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
U.S. network equipment maker Cisco raised its bid for Norwegian video conferencing equipment maker Tandberg and said it was backed by holders of more than 40 percent of its shares after few warmed to its previous offer.
