MARKETS / FINANCE

China Telecom aims to sell BlackBerry handsets and Palm smartphones in China by early next year, as it tries to gain share from its two larger mobile telecom rivals, a source familiar with the situation said on Monday.

Dutch telecoms group KPN agreed improved terms for the takeover of iBasis, securing the control it needs to turn around the loss-making global top-three voice traffic carrier.

Sales of existing U.S. homes likely rose for a second consecutive month in October, reaching their highest since July 2007, according to a Reuters poll, as buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit.

U.S. stocks rose on Monday, with the S&P on track to break a three-day sell-off, after data showed existing home sales rose to their highest level in 2-1/2 years and investors were reassured by a Fed official's comments.

U.S. stocks opened higher on Monday after comments by a Fed official reassured investors the government is committed to helping the economy recover from a deep recession.

U.S. stock index futures pointed to a nearly 1 percent rise at the open on Monday after comments by a Fed official reassured investors the government is committed to helping the economy recover from a deep recession.

Japan Airlines Corp asked retirees and employees on Monday to accept an average 40 percent cut to their pension payouts and warned the struggling airline could face bankruptcy if an agreement could not be reached.

The global economy is in a holding pattern and vulnerable to more upheaval, and a lasting recovery will depend on policymakers taking the proper steps in coming months, the head of the IMF said on Monday.

Ciena Corp will buy the optical networking and carrier ethernet business of bankrupt Nortel for $769 million after it trumped Nokia Siemens Networks in a three-day auction.

The dollar fell broadly on Monday, hitting a six-week low against the yen after dovish comments from a U.S. Federal Reserve official reinforced the view that U.S. interest rates would stay low for a long time.

The Canadian dollar was firmer on Monday ahead of key Canadian retail sales data, helped by stronger equity and commodity prices, including a record level for gold, and broad-based U.S. dollar weakness.

Britain's top share index was up 1.7 percent at midday on Monday, fuelled by strength in miners and energy stocks thanks to firmer commodity prices, while improved risk appetite also boosted banks.

U.S. stock index futures rose about 1 percent on Monday, looking to snap a three-session losing streak as commodity and natural resource stocks gained on a falling U.S. dollar.

U.S. stock index futures rose about 1 percent on Monday, looking to snap a three-session losing streak as commodity and natural resource stocks gained on a falling U.S. dollar.

The dollar fell broadly on Monday after dovish comments from a U.S. Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period.

Chicago Federal Reserve President Charles Evans expects U.S. unemployment to peak at around 10.5 percent next spring and hopefully easing to about 9.5 percent by end-2010, according to comments published on Monday.

Cadbury Plc shares hit a record high on speculation of a battle for the British confectioner between bidder Kraft Foods Inc and rivals who are considering making takeover offers, analysts said on Monday.

Several U.S. policy makers consider JPMorgan Chase & Co Chief Executive Jamie Dimon as a potential successor to U.S. Treasury Secretary Timothy Geithner, the New York Post said, citing sources.

Ciena Corp will buy the optical networking and carrier ethernet business of bankrupt Nortel for $769 million, sources told Reuters, after it trumped Nokia Siemens Networks in a three-day auction.

U.S. stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500, Dow Jones and Nasdaq 100 up 0.8 to 1 percent.

Gold powered to another record high on Monday as the dollar sank, while higher commodity prices lifted world equities.

A group of U.S. business economists boosted their forecast for economic growth over the next year, but said the jobless rate will remain stubbornly high, a survey released on Monday showed.

A group of U.S. business economists boosted their forecast for economic growth over the next year, but said the jobless rate will remain stubbornly high, a survey released on Monday showed.

Gold powered to another record high on Monday, benefiting from its reputation as a hedge against inflation and sluggish economic growth, while oil and copper prices rose on a weaker dollar and supply concerns.

Ciena Corp will buy the optical networking and carrier ethernet business of bankrupt Nortel for $769 million, after trumping Nokia Siemens Networks in a three-day auction, sources told Reuters.

Ciena Corp will buy Nortel Networks Corp's optical networking and carrier ethernet business for $769 million after trumping Nokia Siemens Networks in a three-day auction, sources told Reuters on Sunday.

Ciena Corp will buy Nortel Networks Corp's optical networking and carrier ethernet business for $769 million after outbidding Nokia Siemens Networks in a three-day auction, sources told Reuters on Sunday.

Chieftain Capital Management, an investment firm with about $3 billion in assets, is breaking up following a rift among its managers, the Wall Street Journal reported on its website on Sunday.

A senior Federal Reserve official said on Sunday the central bank should keep alive a mortgage-backed securities buying program beyond a planned end-date to give policy-makers more flexibility as they help the economy recover from a painful recession.