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ABN AMRO says on track for 2007 EPS target

Dutch bank ABN AMRO NV reiterated its 2007 earnings per share target of 2.30 euros ($3.19) on Monday despite current market turmoil and said it has very limited exposure to the subprime market.

All options open to save Northern Rock -UK govt

All options will be considered to save embattled bank Northern Rock, British finance minister Alistair Darling said on Monday as fears of a crisis threaten to spoil Prime Minister Gordon Brown's first year in power.

Microsoft suffers decisive EU antitrust defeat

Microsoft suffered a decisive antitrust defeat in Europe on Monday, sending its shares down 2 percent in pre-market trade. A European Union court backed a European Commission ruling that Microsoft, the world's largest software maker, illegally abused its market power to crush competitors.

EU seeks big drop in Microsoft market share

Europe's top competition regulator said on Monday she wanted to see a significant drop in the market share of Microsoft after the U.S. software giant lost an appeal against an EU antitrust ruling.

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Merrill Lynch's subprime unit cutting jobs

Merrill Lynch & Co. Inc.'s $1.3 billion bet on subprime lending hit a sour note on Monday, when the world's largest brokerage confirmed job cuts at its First Franklin Financial Corp. unit.

Goldman sees oil surging to $85 by year end

Goldman Sachs on Monday forecast U.S. oil prices will surge to $85 by the end of the year, and said crude could climb as high as $90 due to tight supplies.

U.S. envoys in China for talks on food, drug safety

A U.S. delegation will begin formal negotiations with Chinese officials in Beijing this week on deals to improve food and drug safety following a series of health scares that have shaken confidence in Chinese-made goods.

Greenspan clarifies Iraq war, oil link

Clarifying a controversial comment in his new memoir, former Federal Reserve Chairman Alan Greenspan said he told the White House before the Iraq war that removing Saddam Hussein was "essential" to secure world oil supplies, according to an interview published on Monday.

Sterling dips, yen rises as risk aversion mounts

Sterling fell to its lowest level in a year on a trade-weighted basis and the yen strengthened on Monday as problems at Britain's Northern Rock bank heightened risk aversion and led investors to pare back carry trades.

D.Telekom to buy SunCom Wireless for $1.6 bln

Deutsche Telekom mobile phone division T-Mobile USA will use the purchase to expand growth and market presence.

GM, union talks adjourn amid signs of progress

Negotiators for the United Auto Workers and General Motors Corp agreed to a break in contract talks on Monday after a marathon 16-hour bargaining session that raised expectations the union and the top U.S. automaker were nearing an agreement.

Stocks, sterling falls as N.Rock woes deepen

Asian and European stocks fell on Monday while sterling hit a one-year low as concerns over financing for banks grew after UK mortgage lender Northern Rock tapped the Bank of England for an emergency loan last week.

Paulson says crisis not over

Savers demanded their money back on Monday from the British bank hardest hit by the global credit crisis, while U.S. Treasury Secretary Henry Paulson said financial market turbulence could continue for a while.

Nations ink deal to provide safer atomic power

Sixteen nations signed a U.S.-initiated pact on Sunday to help meet soaring world energy demand over coming decades by developing nuclear technology less prone to diversion into atomic bomb-making.

New Yorker pushes limits of the locavore life

Eating only locally produced food in the biggest U.S. city is a big challenge.

Japan's Fukuda eyes warmer China ties

Tokyo must keep a thaw in ties with China on track, the frontrunner to be Japan's next prime minister said on Sunday, while urging Beijing to better explain its ballooning military spending.

Iran carpet traders hope quality will trump rivals

Standing next to piles of exquisitely hand-woven Persian carpets, Hossein Ghaseminia is confident his rugs, which cost up to $50,000, can see off cheaper Asian rivals and ride out threatened U.S. sanctions.

Fed funds show market conditions still unusual

Even though credit market turmoil appears to be abating, the elevated level of the U.S. federal funds rate shows that the short-term lending market is not yet out of the woods.

Leap Wireless board rejects MetroPCS bid

Leap Wireless International Inc. said on Sunday its board of directors had unanimously rejected an unsolicited bid worth more than $5 billion from larger rival MetroPCS Communications Inc.

Altria to benefit from company split: Barron's

Altria's planned split into separate U.S. and international tobacco companies will lift the company's stock even though investors' reaction has been only lukewarm, financial newspaper Barron's said in its September 17 edition.

RBS consortium likely to buy ABN: ABN CEO

A Royal Bank of Scotland-led consortium will most likely buy ABN AMRO as Barclays' rival offer for the Dutch bank has little chance of matching the consortium's bid financially, ABN's chief executive told Dutch TV on Sunday.

Signs of progress as GM, UAW talks resume

Contract talks between General Motors Corp and the United Auto Workers union resumed on Sunday, a day before tens of thousands of GM factory workers were due to return to work at the No. 1 U.S. automaker in the absence of a new contract.

Fed set to cut interest rates

A long period of stasis in Federal Reserve monetary policy looks certain to end on Tuesday with a U.S. interest-rate cut, leaving the question of how much further rates may drop and how fast.

Stocks, currencies subdued, await Fed meeting

Asian stocks took a breather on Monday after four straight weeks of gains, with expectations of a U.S. interest rate cut this week helping to offset renewed worries about a global credit squeeze.

Gates rejects Greenspan claim war is about oil

U.S. Defense Secretary Robert Gates on Sunday rejected former Federal Reserve Chairman Alan Greenspan's statement that the Iraq war "is largely about oil."

GM, union resume talks, deal seen likely

Negotiators from General Motors Corp and the United Auto Workers were making significant progress on Saturday on a new labor contract, but major issues remained unresolved, a person close to the talks said.

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