MARKETS / FINANCE

A top banking industry group on Monday defended the practices of traditional banks while facing protesters who railed against Wall Street abuses.

Canada's Magna on Monday inched closer to clinching its Opel buy with approval from Spanish plant workers as the clock ticks down to a November 3 board meeting at which GM is set to decide on the deal.

Caterpillar Inc, the world's biggest maker of heavy machinery, said on Monday it plans to permanently cut 2,500 workers even as increasing demand will allow it to recall some employees who were laid off during the economic downturn.

Electronics chain RadioShack Corp posted quarterly revenue that topped Wall Street expectations, helped by its push in mobile phones and calling plans, sending its shares up 16 percent to a year high.

CIT Group Inc has extended and sweetened its debt exchange offer for some of its bondholders, the lender said in a regulatory filing on Monday.

U.S. stocks rose on Monday as energy shares climbed along with the price of oil, and Microsoft Corp boosted the tech sector after several brokerages raised their price targets on the company.

Dutch bancassurer ING Group NV will split in two, shrinking itself into a smaller Europe-focused bank, in the most striking example yet of the deep changes the EU wants to force on banks that received state aid.

A group of Blackstone Group LP (BX.N) investors has appealed the dismissal of their class-action lawsuit seeking to hold the private equity firm responsible for their losses on its stock.

Australian investment bank Macquarie Group (MQG.AX) said on Monday it plans to acquire Blackmont Capital from CI Financial (CIX.TO) for $C93.3 million ($88.6 million), in a bid to expand its wealth management business and product portfolio in Canada.

U.S. government debt prices were mostly weaker on Monday before $7 billion auction of five-year Treasury Inflation-Protected Securities, part of this week's $123 billion in record supply.

The lure of double-digit returns is feeding a rally in Europe's credit markets, opening up financing opportunities for hitherto unwanted companies - and signalling the market may be overheating.

A three-month moving average of a gauge of U.S. economic activity, though below its historical trend, has neared levels seen at the end of previous recessions, a Chicago Federal Reserve report said on Monday.

First Marblehead Corp (FMD.N), one of the largest securitizers of student loans, posted a wider-than-expected quarterly loss, hurt by a six-fold increase in unrealized loss on education loans held for sale.

Germany's centre-right coalition has chosen a bold economic recovery strategy starting with unfunded tax cuts that amount to a third stimulus programme and should be welcomed around Europe and in Washington.

U.S. fertilizer maker Mosaic Co (MOS.N) said on Monday it plans to return about $580 million to stockholders through a special cash dividend that will be financed using cash on hand.

U.S. stock index futures indicated a modestly higher open on Monday, after a sell-off in the previous session, as investors looked to a busy week of economic data and corporate earnings.

Following is the prepared text of a speech Bank of Canada Governor Mark Carney was giving in Montreal on Monday.

Despite long lines and limited supplies of theH1N1 flu vaccine, U.S. efforts against the disease are not too late, Health and Human Services Secretary Kathleen Sebelius said on Monday.

U.S. economic activity weakened in September according to a Chicago Federal Reserve report on Monday, but a three-month moving average of the index, though below its historical trend, improved close to levels associated with the end of recessions.

PrivateBancorp Inc (PVTB.O) posted a third-quarter loss, as weakness in commercial real estate forced the Chicago lender to almost triple its provision for bad loans, and said it would raise $175 million through a stock offering, sending its shares down 14 percent in pre-market trade.

European shares were little changed on Monday as a rise in pharma stocks offset weaker insurers, which were dragged down by ING (ING.AS), which fell after announcing its plan to split the company.

News, details on corporate bond issues in the European markets on Monday:

European shares edged higher in early trade on Monday, with higher oils and pharmaceutical stocks outweighing weaker financials.

Britain's top shares edged up 0.2 percent by midday on Monday as energy firms and drugmakers gained ahead of third-quarter earnings this week, outpacing a decline in banks and life insurers.

U.S. stock index futures indicated a modestly higher open on Monday, after a sell-off in the previous session, as investors looked to a busy week of economic data, while the U.S. dollar fell to a 14-month low.

U.S. stock index futures rose on Monday after a selloff in the previous session as investors looked ahead to a busy week of economic data, while the U.S. dollar fell to a 14-month low.

The Australian Dollar opens marginally lower on Monday against the greenback at 0.9201. Last Friday saw another move towards US93 cents as investors sold the Japanese Yen to move into higher-yielding currencies, in what is commonly known as a carry trade. The local unit is nudging one-year highs against the Yen at 84.58. In offshore action the Aussie retreated beneath US92 cents after Wall Street fell 1 per cent, giving back the gains of the previous session and sapping the market's confidence...

Oil fell for a third day to around $80 a barrel on Monday, extending its retreat from last week's one-year high, on renewed concerns about the strength of the global economy.

Stock index futures pointed to a higher open on Monday for Wall Street, which fell on Friday.