IBT Staff Reporter

Diamond producer De Beers expects global demand growth for rough diamonds to set a new record this year on the exceptionally strong performance of its key U.S. market and robust demand in China and India, the head of the company's distribution arm said.

The most anticipated and rumored smartphone, Apple’s iPhone 5 is heading toward its release, while a couple of Android rival smartphones— Motorola Droid Bionic and Samsung Galaxy S2 have already come to the U.S., and Google Nexus 4G along with HTC Holiday are coming up next.

Greece must implement reforms agreed under an EU/IMF bailout plan and improve tax collection to qualify for further rescue payments, the IMF said on Monday.

Swiss bank UBS has kicked off an internal investigation into the catastrophic failure of its risk systems after raising the amount it lost on rogue equity trades to $2.3 billion.

Libya's interim leaders failed to agree a new cabinet on Sunday and the forces that forced Muammar Gaddafi from power remained bogged down in fighting with troops loyal to the former ruler.

Manchester City succumbed to a 2-2 draw at Craven Cottage despite having a two-goal advantage over Fulham.

Samsung Electronics Co has filed a counter claim in an Australian court, accusing Apple of infringing its wireless patents related to the U.S. firm's iPhone and iPad products.

Nine-man Liverpool succumbed to their second successive defeat at White Hart Lane as Tottenham flew to a 4-0 win.

A low-intensity blast at a hospital in the tourist city of Agra injured at least three people on Saturday, a local police official said.

Mitsubishi Heavy Industries Ltd.'s computer network was hacked at factories that build submarines and missiles and make components for nuclear power plants in the first such attack targeting Japan's defense industry, the Yomiuri newspaper said on Monday.

President Barack Obama, in a rallying call to his Democratic base, will vow on Monday to veto any cuts in Medicare if Congress fails to raise taxes on corporations and wealthy Americans to curb the U.S. deficit.

The Indian rupee fell on Monday tracking the euro's losses and weak domestic equities as heightened worries over European debt crisis pushing investors to cut holdings in riskier assets.

The Los Angeles Dodgers have proposed an auction of the right to broadcast the baseball team's games in a bid to bring in billions of dollars to stabilize its finances and end its bankruptcy.

A magnitude 6.8 earthquake hit a remote Himalayan region in northern India on Sunday evening, killing at least four people and five in neighbouring Nepal as well as damaging buildings and blocking roads, officials said

Even though the recession officially ended more than two years ago, the still-weak U.S. economy and a pullback in federal support means the outlook for states and local governments remains negative, Moody's Investors Service said on Monday.

Astronaut Mark Kelly, husband of wounded Representative Gabrielle Giffords, was scheduled to fly aerobatics in a P-51 Mustang in the Reno air show on Saturday, a Giffords' spokesman said.

Even though the recession officially ended more than two years ago, the still-weak U.S. economy and a pullback in federal support means the outlook for states and local governments remains negative, Moody's Investors Service said on Monday.

An eventful game ended with Manchester United securing a 3-1 win over Chelsea at Old Trafford, although the match will be remembered more for the number of missed chances than the well-taken goals.

Kyle Chandler wins best drama actor Emmy

Kyle Chandler wins best drama actor Emmy

First-time Emmy nominee Melissa McCarthy won the award for best comedy actress on Sunday for her role in Mike & Molly, capping a breakout year in which she also wowed movie audiences in comedy Bridesmaids earlier this year.

The chief executive of AngloGold Ashanti Ltd said he expects gold prices to hit $2,200 an ounce by next year and hinted the South African miner could boost its dividend.

China should refrain from boosting credit and fiscal spending again as stimulus measures to avoid fueling inflation and pushing up government debt, Wu Xiaoling, a former deputy central bank governor said in remarks published on Monday.

China should refrain from boosting credit and fiscal spending again as stimulus measures to avoid fueling inflation and pushing up government debt, Wu Xiaoling, a former deputy central bank governor said in remarks published on Monday.

Diversified manufacturer United Technologies Corp is exploring a takeover of aerospace company Goodrich Corp but the two sides are not yet close to a deal, according to a source with knowledge of the situation.

The London Bullion Market Association is working out ways for refiners on its Good Delivery List to avoid falling foul of new regulations against conflict gold as a number one priority, LBMA chairman David Gornall told Reuters on Sunday.

India's GVK Power & Infrastructure will pay $1.26 billion for a majority stake in three Australian coal mines and a port and rail project owned by Hancock Group to secure long-term coal supplies for the Indian group's power projects.

British companies will be required to publish more details on the pay packages of top executives under a government drive to fix a disconnect between remuneration and corporate performance, Business Secretary Vince Cable said on Monday.