IBT Staff Reporter

Oracle Corp and Google Inc have reached an irreconcilable impasse in settlement negotiations in a high-profile intellectual property lawsuit and the companies' lawyers should prepare for trial, a U.S. magistrate judge ruled on Monday.

Stocks extended gains in late afternoon trading on Monday, with the Nasdaq Composite up 1 percent and the S&P 500 at a fresh four-year high as encouraging data from the United States and abroad helped ease concerns about the pace of economic growth.

The S&P 500 climbed to a fresh four-year intraday high on Monday, the first trading day of the second quarter, as upbeat Chinese and U.S. manufacturing data overshadowed a report showing more weakness in Europe.

Microsoft is moving its European software distribution to the Netherlands from Germany after being caught up in patent disputes with mobile phone and tablet maker Motorola Mobility Inc .

Wall Street advanced on Monday, the first trading day of the second quarter, as upbeat Chinese and manufacturing data overshadowed a report showing continued softness in Europe.

Former Acer <2353.TW> Chief Executive Gianfranco Lanci was appointed on Monday as chief of Lenovo's <0992.HK> operations in Europe, Middle East and Africa, and said he aims to break into the top three in the region by next year.

Stocks were little changed on Monday on the first trading day of the second quarter as data showing a modest pickup in U.S. manufacturing offset a report showing a dimmer view of factory activity in Europe.

Construction spending in February recorded its largest drop in seven months as investment in private and government projects fell, which could cause economists to slightly mark down their first-quarter economic growth forecasts.

Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year.

Wells Fargo & Co opened its new Abbot Downing business on Monday, merging two of its wealth management units under a new brand it hopes will expand its market share of America's richest families.

Wall Street was set for a flat open on Monday as investors eyed data on manufacturing for signs of improvement in the pace of growth.

Stock index futures were flat on Monday ahead of manufacturing data after a similar report on Europe's manufacturing sector raised concerns about a recession in the region.

Singapore's DBS Group , Southeast Asia's biggest bank, is to buy Indonesia's Bank Danamon for $7.24 billion, in a deal that could stir nationalist opposition stoked by anxious local rivals.

Stock index futures were flat on Monday after weak manufacturing data out of Europe raised fears about a recession in the region.

A private equity arm of Goldman Sachs is looking to launch a $3 billion property debt fund in a bid to take advantage of a growing shortage of real estate financing across the UK and Europe, British newspaper the Times said on Monday.

Barry Callebaut , the world's largest maker of chocolate products, warned that markets in Western Europe and North America remained fragile as it reported a slight dip in first-half profits.

DBS Group Holdings , Southeast Asia's biggest bank, has agreed to pay $7.24 billion for Indonesia's Bank Danamon , offering a 52 percent premium for a middle-ranking lender with high funding costs, raising questions on the price.

Singapore-based Richard Chandler Corp, the largest shareholder in Sino-Forest Corp, said on Monday that it has proposed a restructuring plan for the embattled Chinese forestry company.

U.S. auto sales are expected to continue at a strong pace in March, capping the best quarter in four years for new vehicle purchases as the overall U.S. economy improved and new car buyers found easier financing.

For all the derision Republican presidential hopefuls have heaped on the Federal Reserve, a November win by lead contender Mitt Romney would likely change little at the central bank, at least in the short term.

Investor Warren Buffett learned more than economics and thrift as a paper boy during the 1940s when he earned the $5,000 that launched the investments that grew into Berkshire Hathaway Inc.

Sean Chua expected the hunt for his first job after college to be tough. After all, he watched his brother struggle to find a position when he graduated back in 2008.

China's big factories were surprisingly busy in March as a stream of new orders lifted activity to an 11-month high, but credit-constrained smaller manufacturers struggled, suggesting that the economy is still losing steam.

Foxconn Technology Group will keep on increasing worker salaries in China and cutting the hours of work, Chairman Terry Gou said on Sunday, after it came under fire for poor working conditions for employees making Apple iPhones and iPads.

After two years of hard work to improve Singapore's largest bank and lift its underperforming Hong Kong unit, DBS Group chief executive Piyush Gupta is embarking on his biggest challenge yet - a bid for Indonesia's Bank Danamon .

Foxconn Technology Group will keep increasing worker salaries in China and cutting work hours, Chairman Terry Gou said on Sunday, after it came under fire for poor working conditions for employees making Apple iPhones and iPads.

Japanese electronics giant Panasonic Corp is expected to shift all production of its mobile phone handsets abroad as early as this summer as it looks to re-enter overseas markets this fiscal year, the Nikkei daily said on Sunday.

South Korean exports in March fell 1.4 percent from a year ago, missing a consensus forecast for a small gain and adding to questions about the strength of a global recovery even with a boost to shipments in the first month of a landmark free trade pact with the United States.

Brazilian authorities identified a small oil leak off the shores of Rio de Janeiro on Saturday, the latest in a series of spills that has raised safety concerns over the development of some of the world's largest petroleum reserves.