IBT Staff Reporter

British Airways carried 11.1 percent fewer passengers in June compared with the year before, reflecting the impact of walkouts by cabin crew protesting pay and conditions.

The U.S. Senate went on Fourth of July recess Friday without passing an extension to unemployment insurance. The 1.2 million people who saw their unemployment benefits end on July 1 will have to wait until at least July 12, when the Senators return to Washington.

Platinum and palladium prices are largely depending on the auto markets of China and India. This is because these two countries now drive the auto sales across the globe and with the increase in car sales, platinum and palladium demand is also expected to rise. Both these metals are used in catalytic converter applications in automobiles.

Euro interbank lending rates edged up on Monday as the market focused on how much weekly ECB funding banks will roll at the first tender operation since last week's repayment of almost half a trillion euros.

Germany's strong run in the World Cup may be the catalyst for a growth spurt by Europe's largest economy, as consumers riding the feelgood factor of national success dip in to their savings and start spending again.

World stock prices fell for the fourth day running on Monday and the dollar traded close to two-month lows on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth.

World equities fell for the fourth day running on Monday and the dollar traded close to two-month lows on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth.

A burst of corporate acquisition activity in Asia shows that executives throughout the region are gaining confidence in their financial outlook and expansion strategy, with cross-border deals on the upswing.

Bailed-out lender Lloyds Banking Group has agreed to sell its private equity business to buyout firm Coller Capital, accelerating its plan to offload peripheral units and refocus on its core lending activities.

Gold prices fell sharply after testing all-time highs recently with the market going below the psychological $1,200 an ounce in the international market. The fall erased gains of last several weeks. On Friday, in London, gold PM Fix was at $1,201.50/oz, down from $1,234/oz the previous day. Silver followed suit with Friday AM Fix at $17.98/oz, down from $18.65/oz the previous day.

Bank of China said its bid to raise up to $8.9 billion should give it enough capital for the next three years, seeking to assure markets its second major fund-raising this year will mend its stretched balance sheet for the foreseeable future.

World equities fell for the fourth day running on Monday and the dollar traded close to two-month lows on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth.

Oil edged higher above $72 a barrel on Monday, rebounding from a 3-week low, but gains were capped by lingering concerns over slowing global economies and future demand for fuel. U.S. crude for August climbed as much as 56 cents to $72.70 a barrel on Monday and was up 27 cents at $72.41 by 4:50 a.m. ET.

Oil major BP Plc is seeking a strategic investor to secure its independence in the face of any takeover attempts as it struggles with a devastating oil leak in the Gulf of Mexico, newspapers said on Sunday.

Asian stocks inched higher on Monday, with investors taking profits on defensive plays and buying back other beaten down shares, though selling could resume shortly as the U.S. and Chinese economies are slowing in tandem.

Global services growth geared down a notch in June, data showed on Monday, supporting the view in financial markets that emerging and developed economies are set to cool off through the second half of the year.

TPG and Goldman Sachs's private equity arm are close to a deal to buy Ontex, the European private-label diaper maker, from buyout firm Candover for 1.2 billion euros ($1.5 billion) or more, people familiar with the matter said.

Gold ticked up on Monday after a drop in the U.S. dollar spurred bargain hunting, with firmer stock markets helping investors shrug off a slight decline in ETF holdings. Jewellers were on the sidelines after buying heavily on Friday, when bullion fell to a five-week low. With U.S. investors away for a holiday, the metal was likely to trade in a tight range of $1,210 to $1,215 an ounce.

Asian stocks edged up on Monday, with investors taking profits on defensive plays and buying back other beaten down shares, though selling could resume shortly as the U.S. and Chinese economies are slowing in tandem.

Oil rebounded from three-week lows on Monday, staying above $72 as the market assessed the implications of a slowing global economic recovery on energy use. Rising stock markets in Asia prompted participants to cover short positions in a trading session where volumes were expected to be thin because of the U.S. Independence Day holiday.

Only China's yuan could rank with the dollar and euro as pillars of the global monetary system, given time and five key tests, Hong Kong's former Monetary Authority chief Joseph Yam was quoted as saying.

Samsung Electronics' second-half performance might be hit by weak European markets, and the launch of its new smartphones is key as the world's No. 1 memory chipmaker is set to report a record quarterly profit.

Hedge fund managers feel they aren't out of the woods quite yet.

Apple is missing out on an opportunity to further expand in China, the Financial Times reported late on Sunday, citing Lenovo's Chairman Liu Chuanzhi.

China's high economic growth and expectations of a stronger yuan are luring global speculative funds into its stock and property markets, a senior foreign exchange regulator said in remarks published on Monday.

Australia's Centennial Coal Co Ltd agreed to a $2 billion takeover offer from Thailand's Banpu Public Co Ltd , giving the Thai group a beachhead in Australia it has long sought.

The Australian Dollar has opened up in the high 0.8300's this morning after struggling on Friday evening's trade to fall short of 0.8500, following the new Prime Minister Julia Gillard announcement of a compromise position on the RSPT (Resource Super Profits Tax) which became the MRRT (Mineral Resource Rent Tax).

Cancer specialists in Australia are calling for a national policy on genetic testing of cancer patients in public and private hospitals to identify who can receive particular drugs that work only in the presence or absence of a particular gene.

The Australian Dollar has failed to hang onto the gains made last Friday following the announcement by the Australian Government of a resolution to the resource super profits tax issue.