IBT Staff Reporter

Facebook Inc's first-quarter revenue climbed 45 percent to just over $1 billion as daily active users leapt 41 percent, the world's largest social network disclosed ahead of its landmark initial public offering.

American Airlines kicked off a week-long court hearing on its bid to abandon union contracts, telling a judge on Monday that its bankrupt parent, AMR Corp, cannot survive without major concessions from its labor force.

Chesapeake Energy Corp's chief executive came under fire last week after Reuters reported that he used his stakes in company wells to take out as much as $1.1 billion in personal loans.

U.S. stocks fell more than 1 percent on Monday as political turmoil in Europe cast doubts on the bloc's ability to push through measures to end its debt crisis and as Wal-Mart sank following a report it stymied a bribery probe.

Mexican lawmakers called on authorities on Monday to investigate allegations of bribery at the Mexico unit of Wal-Mart Stores Inc, even though prosecutors said it may not be a federal matter.

Even as uplifting news about the suspension of EU sanctions spreads throughout Myanmar, new concerns over the future of the country arise from fresh disputes in parliament.

American Airlines on Monday kicked off a week-long court hearing on its bid to abandon union contracts, telling a judge that its bankrupt parent, AMR Corp, cannot survive without major concessions from its labor force.

The judge presiding over an inquiry into British press standards on Monday rebuked the head of Sky News, the influential news channel of Rupert Murdoch-controlled BSkyB, for breaking the law by hacking into emails to generate a story.

BP Plc sued Argentina's Bridas Corp on Monday over a collapsed $7.06 billion asset sale, saying it is willing to pay a $700 million breakup fee so long as it will not face fraud claims arising from its conduct.

Stocks slid on Monday as resurgent uncertainty in Europe cast doubts on the bloc's ability to push through measures to end its debt crisis, while Wal-Mart weighed on the Dow after a report it stymied a probe into bribery allegations.

Kellogg Co cut its full-year outlook after a disappointing first-quarter performance, sending the cereal maker's shares down 5.5 percent and pressuring the packaged food sector overall.

Thomson Reuters Corp said on Monday it is selling its Healthcare business to private equity firm Veritas Capital for $1.25 billion in cash.

Allegations that Wal-Mart Stores Inc stymied an internal investigation into extensive bribery at its Mexican subsidiary are likely to lead to years of regulatory scrutiny and could eventually cost some executives their jobs.

British mobile operator Vodafone's deal to buy Cable & Wireless Worldwide for an agreed 1.04 billion pounds ($1.7 billion) hit a hurdle on Monday when CWW's top shareholder declined to back a bid it considered too low.

As the Chinese-Filipino dispute over Scarborough Shoal enters its third week, tensions between the two countries show no signs of dissipating. The Philippines is urging other South China Sea countries for their support against what it sees as Chinese aggression.

Internet and network security provider Check Point Software Technologies said it expected to meet second-quarter estimates, after reporting a rise in first-quarter net profit that beat forecasts on strong sales of its new products.

Stocks fell more than 1 percent on Monday as renewed anxiety over Europe's economy and the region's debt crisis spurred profit-taking, while Wal-Mart weighed on the Dow after a report it stymied a probe into bribery allegations.

President Barack Obama will announce sanctions on Monday on those helping Syria and Iran acquire technology that lets them target dissidents through their cell phone and Internet use.

Britain's media regulator said on Monday it had launched an investigation into Sky News, the influential news channel of Rupert Murdoch's BSkyB, which has admitted twice hacking into emails to generate a story.

Stock index futures pointed to a sharply lower open on Monday on weak European data and renewed anxiety over how the region would tackle its debt crisis, while Wal-Mart slumped after a report it stymied a probe into bribery allegations.

Volkswagen , the world's second largest carmaker, will invest about 170 million euros ($225 million) building a new plant in Urumqi, western China, capable of making 50,000 vehicles annually starting 2015, the company said on Monday.

Stock index futures pointed to a sharply lower open on Monday on weak European data and renewed anxiety over how the region would tackle its debt crisis, while Wal-Mart slumped after a report it stymied a probe into bribery allegations.

ConocoPhillips , which is splitting into two stand-alone companies at the end of the month, reported a lower-than-expected quarterly profit, hurt by weak refining margins, and its shares fell in premarket trading.

Spain's budget deficit was confirmed at 8.5 percent of economic output in 2011 by the EU's statistics office Eurostat on Monday, dispelling doubts about the new Spanish government's reading of its national accounts.

Stock index futures slid on Monday on renewed anxiety over how Europe would tackle its sovereign debt crisis while Wal-Mart shares fell after a report about a stymied probe into bribery allegations.

Kellogg Co cut its full-year outlook on Monday, citing a weaker-than-expected first-quarter performance, and its shares fell 6.3 percent.

Stock index futures were sharply lower on Monday as political uncertainty in Europe raised new questions about how effectively the region would tackle its sovereign debt crisis.

In the 1990s, Huawei CEO Ren Zhengfei visited the United States several times, hoping to learn from its leaders of industry about how to turn his Chinese telecoms equipment maker into a global company. On one trip in 1992, in the days before China had credit cards, he paid all his bills with cash from a $30,000 stash in his briefcase.

Stock index futures were sharply lower on Monday as political uncertainty in Europe raised new questions about how effectively the region would tackle its sovereign debt crisis.