IBT Staff Reporter

Ratings agency Moody's on Monday suggested the United States should eliminate its statutory limit on government debt to reduce uncertainty among bond holders.

Philips on Monday made a surprise writedown on acquisitions that dragged the group to a 1.3 billion euro ($1.8 billion)second-quarter net loss, just weeks after warning on profits at two key divisions.

Gold and the Swiss franc hit record highs Monday while equities and the euro tumbled as the lack of any breakthrough to the escalating debt crisis in the euro zone and the United States sapped demand for risky assets.

The iPhone 5 release date, which is largely rumored about, is likely to get delayed further because of the A5 chip overheating in the tiny enclosure of iPhone, reports Sohu.com.michael jackson wallpaper, utorrentscreensavers,

Philips on Monday surprised with a 1.3 billion euro quarterly net loss, citing a slower-than-expected recovery from the recession and impairment charges, and said it will cut costs by 500 million euros.

While investors fret about a jump in bad loans from China's local government entities, the country's so-called Big Four banks are busy squirreling money away for the day when borrowers start defaulting in large numbers.

News Corp's Australian shares slumped over 7 percent on Monday to a two-year low as the phone hacking scandal fallout worsened with the arrest of the former head of Rupert Murdoch's UK newspaper arm and the resignation of Britain's police chief.

Jan Mohammed Khan, a senior aide to Afghanistan President Hamid Karzai, was assassinated on Sunday night by the Taliban.

The main stage collapsed at Ottawa's Bluesfest Sunday during a Cheap Trick performance after a severe thunderstorm struck the area. It was not raining at the time.

Borders Group Inc inched closer to liquidation on Sunday after a bidding deadline passed without offers, the Wall Street Journal said, citing people familiar with the matter.

Japan equalized twice before taking charge of a shootout to triumph in their Fifa Women's World Cup campaign against traditional superpowers - the United States - in the final.

Allegations of fraud and accounting irregularities at Chinese companies are likely to continue for at least the near term and the accusations may hamper the firms' access to funds regardless of the claims' merit, Fitch Ratings said.

Boutique financial advisory firm Greenhill & Co posted better-than-expected second-quarter earnings on Sunday, rushing the results out after reports on departures at the firm hit the company's stock.

Brazil went crashing out of the Copa America 2011 after failing to find the net in a dismal shootout against Paraguay, who made it into the semi-finals.

The Dark Knight Rises Trailer 'Copyright Infringement': Warner Brothers

Older people whose brain scans detected signs of brain amyloid but were otherwise healthy had a doubled risk of falling as people without brain amyloid, said a study at the Alzheimer's Association's annual International Conference in Paris Sunday. Brain amyloid foreshadows Alzheimier's disease.

Reinsurer Validus Holdings Ltd defended its $3.25 billion bid for Transatlantic Holdings Inc , saying a deal would create more than $1 billion of earnings power that it could put toward more share repurchases.

Treasury bonds could soon lose the privilege of being the only debt securities in the world whose value actually rises on the threat of a ratings downgrade.

Japan won the Women's World Cup in stunning fashion on Sunday, outshooting the US Women 3-1 on penalty kicks, after a two surprising comebacks.

The Senate will likely begin consideration this week of a bipartisan fallback plan to avert an unprecedented U.S. default of its debt, senior Democratic aides said on Sunday.

Metropolitan Police Commissioner Paul Stephenson resigned on Sunday following criticism of the handling by police of a phone hacking scandal that has rocked British politics and shaken Rupert Murdoch's News Corp media empire.

Banks that scraped through the European Union's stress test of 90 lenders will start feeling the heat Monday from investors to beef up capital buffers.

David Beckham took to Facebook on Sunday to introduce to the world his new baby daughter, Harper Seven Beckham, the latest addition to his growing brood.

Ivanka Trump gave birth this morning to a baby girl. Ivanka married Jared Kushner in October of 2009 and the little girl is their first child.

Britain's top police chief resigned and the former head of Rupert Murdoch's UK newspaper business was arrested on Sunday over a phone-hacking scandal that is lapping at Prime Minister David Cameron's door.

Casey Anthony was released from prison at 12:09 a.m. Sunday. Television footage showed that Anthony walked out through the front entrance of the jail.

Women's World Cup Final: Japan takes the prize.

Britain's top police chief resigned and the former head of Rupert Murdoch's UK newspaper business was arrested on Sunday over a phone-hacking scandal that is lapping at Prime Minister David Cameron's door.

A special committee formed to oversee the integrity of Dow Jones & Co under parent News Corp is very concerned about the British phone hacking scandal that has shaken Rupert Murdoch's media empire.