UNITED STATES

Britain's largest gas retailer, Centrica, faced a setback in its battle to take over Venture Production on Monday, when the North Sea gas producer's two largest investors backed management's rejection of the $2 billion bid.

North Korean leader Kim Jong-il has life-threatening pancreatic cancer, South Korean broadcaster YTN said on Monday, citing information gathered from Chinese and South Korean intelligence sources.

Oil prices slipped more than $1 to below $59 a barrel on Monday, hitting their lowest in almost two months on concerns over the state of the global economy.

There is a good chance that the United States and other leading economies will start growing again over the next few quarters, but significant risks to the outlook remain, U.S. Treasury Secretary Timothy Geithner said.

The 20th World Oil Forum 2009 kicks off from July 13-15 in London, UK where world oil and gas executives will meet to focus on critical matters of the industry . The conference Growth Opportunities in the New PV Market: Projects, Finance and Policy will be held in San Francisco. British oil and gas firm Emerald Energy Plc confirmed today a third party is interested in a take over.

A U.S. judge agreed on Monday to delay the start of a trial in which U.S. tax authorities hoped to force UBS AG to reveal the identities of thousands of Americans suspected of using the bank to evade taxes.

U.S. stocks were set to open higher on Monday after influential bank analyst Meredith Whitney upgraded Goldman Sachs Group shares and gave bullish comments on financial stocks, sparking hopes corporate quarterly results may be surprisingly strong.

Electric car sales could jump to 86 percent of U.S. light vehicle sales in 2030 if consumers don't have to buy batteries themselves, according to a University of California, Berkeley study to be released on Monday.

Stock futures climbed to session highs on Monday as shares of major U.S. banks advanced following positive comments from influential analyst Meredith Whitney on CNBC television.

Honda Motor Co's new chief executive said on Monday that Japan's No.2 automaker would speed up the rollout of its hybrid cars as he aims to steer a nimble company that reacts more quickly to changing customer needs.

Dutch conglomerate Philips Electronics signaled brighter business prospects for the second half of 2009, helped by cost cuts, as it surprised the market with a return to profit in the second quarter.

Financial difficulties at commercial lender CIT Group Inc could hurt small businesses that depend on credit to fund their growth and operations, though many of CIT's units serve an important function and are unlikely to disappear if the company restructures in bankruptcy court.

Stock futures were little changed on Monday as caution over the latest earnings season weighed and CIT Group Inc grappled with shoring up its finances, offsetting a broker upgrade of Goldman Sachs .

Hopes rose that Swiss bank UBS can finally move on from a damaging U.S. tax row, after a request for a delay to a high-profile trial scheduled for later on Monday brought a settlement nearer.

Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.

Oil prices slipped below $60 a barrel on Monday, heading toward a seven-week low on concerns over the state of the global economy as stock markets slid.

Japanese brewer Suntory Holdings Ltd said on Monday it was considering a merger with larger rival Kirin Holdings Co in a deal that would create one of the world's largest beverage and food firms.

U.S. stock index futures pointed to a lower open on Wall Street on Monday, as investors fretted about the outlook for company profit despite global conglomerate Philips's upbeat earnings and comments.

World stocks fell on Monday, with particularly heavy losses in emerging markets, as investors fretted about a coming wave of corporate earnings and confidence in a rapid global economic recovery faded.

Belgian holding company RHJ International said on Monday it was in advanced talks to buy a majority stake in General Motors Corp's European unit Opel.

Japanese brewer Suntory Holdings Ltd said on Monday it was considering a merger with larger rival Kirin Holdings Co in a deal that would create one of the world's largest beverage and food firms.