UNITED STATES

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.

Money manager Invesco Ltd and billionaire investor Wilbur Ross are leading a group committing $1 billion to buy toxic bank loans and securities through the U.S. government's Public-Private Investment Program.

The threat of a pandemic triggered by a new swine flu strain that has killed more than 100 people in Mexico will provide a windfall for some makers of drugs, vaccines and protective masks.

Stocks fell on Monday as concerns that a possible global flu outbreak could dampen optimism about the economy overshadowed a cost-cutting plan from General Motors Corp and gains in biotechnology stocks.

A college diploma has long been the ticket to a good job, but the deepest economic slump in decades has dampened the dreams of many U.S. college seniors.

Oil prices fell 4 percent on Monday on worries a flu outbreak in Mexico could become a pandemic and hurt the global economy and air travel.

U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.

Verizon Communications Inc posted a higher-than-expected quarterly profit due to growth in cell phone customers, solidifying its market leadership following the acquisition of smaller rival Alltel.

Conde Nast is closing its Portfolio business magazine two years after it launched, making it the latest casualty of a dearth of ad spending afflicting the entire publishing business.

Verizon Communications Inc posted a higher-than-expected quarterly profit due to growth in cellphone customers, solidifying its market leadership following the acquisition of smaller rival Alltel.

Oil prices fell 1.5 percent on Monday on worries a flu outbreak in Mexico could become a pandemic, hurting the global economy and hindering air travel.

General Motors Corp. unveiled its restructuring plan on Monday, which may help it avoid filing for bankruptcy protection, focusing on new product developments including a confirmation of current development plans for its highly anticipated electric vehicle, the Chevy Volt.

Stocks edged up on Monday as a cost-cutting plan from General Motors Corp and a rebound in technology stocks offset fears that a possible global flu outbreak could delay an economic recovery.

Secretary of State Hillary Clinton vowed on Sunday that the United States would never sell out Lebanon in any deal with Syria and she urged the Lebanese to hold an open and fair election in June.

The S&P 500 and Nasdaq briefly turned lower on Monday, and the Dow Jones industrial average pared gains, after the World Health Organization commented on the swine flu outbreak.

As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe.

Stocks recovered ground to turn positive on Monday as investors scooped up shares of defensive stocks in the wake of anxiety that a possible global flu outbreak could further hamper the world economy.

A continent that has battled deadly viruses such as the H5N1 bird flu and SARS in recent years, has been taking steps to ward off the new swine flu virus.

MILAN - Fiat SpA's chief executive might swear that he is not trying to build an empire, but he is certainly looking for scale -- on the cheap.

General Motors Corp on Monday said it would cut debt, close plants, slash jobs and drop the Pontiac brand as part of a sweeping restructuring that would see the automaker emerge under the ownership control of the U.S. government and its major union.

Pakistan's President Asif Ali Zardari said on Monday that the whereabouts of al Qaeda leader Osama bin Laden remained a mystery and there was a suspicion that he could be dead.