IBT Staff Reporter

Canon Inc said on Monday its president Tsuneji Uchida would step down and his role would be taken on by chairman and chief executive Fujio Mitarai after the camera and printer maker forecast much weaker-than-expected earnings growth for this year.

U.S. manufacturer Thomas and Betts Corp said it has agreed to be acquired by Switzerland's ABB in a $3.9 billion cash transaction.

Dutch Electronics giant Philips will book further, unspecified, restructuring charges in the first half of 2012, Chief Executive Officer Frans van Houten said on Monday.

Carrefour named retail veteran Georges Plassat as its new chairman and chief executive on Monday, seeking to draw a line under months of turmoil at the world's second-largest retailer.

Philips Electronics on Monday reported a 45 percent fall in fourth-quarter core profit to 503 million euros, in line with the company's own forecast earlier this month and said it was cautious on prospects for 2012, especially in Europe.

Apple's blowout quarter this week increased its cash holdings to almost $100 billion, a staggering hoard that casts a spotlight on what may prove a big catalyst for the U.S. equity market in coming years.

Georges Plassat was known as The Cleaner when at the helm of French retail group Vivarte, with a reputation as a ruthless cost-killer who could at times be harsh with the troops.

Small business payrolls grew at a slower rate in January and wages fell, an independent survey showed on Monday, suggesting the pace of overall job growth moderated after December's sturdy gain.

Canon Inc posted a 14 percent rise in quarterly operating profit on Monday, as it battled the impact of a strong yen and floods in Thailand with cost cuts and increased automation.

Canon Inc forecast weaker-than-expected earnings growth for 2012, citing worries over a slowing global economy and a strong yen that are likely to weigh on the export-dependent camera and printer maker's profits.

Taiwanese chipmaker Nanya Technology Corp denied on Monday any intention to join a possible tie-up between Japanese rival Elpida Memory Inc and Micron Technology, but its shares soared on hopes for consolidation in the struggling industry.

According to the Sunday Mirror, all members of the band - Melanie C, Melanie B, Geri Halliwell and Emma Bunton - except Posh are ready to participate in the gig.

Asian shares inched down and the euro fell from its highest in more than six weeks Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed yet another European summit meeting.

Free Syrian Army fighting President Assad's forces withdraw from eastern suburbs of Damascus after two days of fighting.

Citigroup's chairman, Richard Parsons, is considering giving up the position to focus on other interests, the Wall Street Journal reported on Sunday, citing people familiar with the situation.

China will make Shanghai the global centre of yuan trading, clearing and pricing by 2015, according to a specific state plan laying out the city's future as an international financial centre.

China's Premier Wen Jiabao said the nation's government debt is at an overall safe and controllable level, that funding for key projects would be ensured and that applying the brakes to the problem would be done in a way to avoid systemic risks.

Swiss engineering company ABB was near an agreement on Sunday to acquire U.S. manufacturer Thomas & Betts Corp for about $4 billion, the Wall Street Journal reported, citing people familiar with the matter.

Italian insurer Unipol said on Sunday it has agreed a four-way merger plan to rescue insurance company Fondiaria-SAI with its parent company Premafin .

EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions.

Regulators in Britain and Switzerland may take steps against bank UBS for shortfalls in oversight that allowed an alleged rogue trader to run up a huge loss, the Wall Street Journal reported on Sunday, citing sources familiar with the matter.

Civil rights activist the Rev. Jesse Jackson on Friday urged Grammy organizers to reinstate 31 ethnic and minority musical categories that have been cut from the music industry's top awards.

Survival story The Grey starring Liam Neeson in a battle against weather and wolves led the box office pack with a better-than-expected $20 million in ticket sales over the weekend.

The American Federation of Television and Radio Artists' national board approved a merger proposal with the Screen Actors Guild on Saturday.

The Artist director Michel Hazanavicius was named the year's best feature film director by the Directors Guild of America on Saturday, further positioning the silent movie-era romance as a frontrunner for Oscars.

Delivery trucks wear out, computers break down, software becomes outdated -- and finally businesses have to start investing in new equipment. Companies that want to remain competitive have to start spending again as an economy slowly recovers.

Ian Ambercrombie, the classically trained British stage actor best known to American TV audiences as Elaine Benes' nutty boss Mr. Pitt on Seinfeld, died of a heart attack Thursday in Los Angeles. He was 77.

After months of talking and weeks of voting, Hollywood's actors finally name their picks for the best performances in the films and TV shows of 2011 at the annual Screen Actors Guild Awards on Sunday.

Delivery trucks wear out, computers break down, software becomes outdated -- and finally businesses have to start investing in new equipment. Companies that want to remain competitive have to start spending again as an economy slowly recovers.