IBT Staff Reporter

U.S. banks continue to face significant challenges, particularly from rising delinquencies in commercial real estate and commercial loans, a Federal Reserve official said on Monday.

Nokia plans to install Linux software on just one new smartphone next year, a source told Reuters on Monday, dampening prospects of a quick makeover of the Finnish group's struggling product line-up.

Manufacturing in parts of the United States was picking up steam, data showed on Monday, but jobs were lagging the recovery and consumers remained cautious, economists said.

Worldwide server revenue tumbled 15.5 percent in the third quarter to $10.7 billion, industry tracker Gartner said on Monday, with four of the top five vendors posting double-digit declines from a year ago.

Tiger Woods screamed to his wife supermodel Elin Nordegrin she had ruined their Thanksgiving, fleeing away from their Orlando house and before crashing his car on Friday, RadarOnline.com reports Monday.

The winner of Honduras' controversial election called on Latin American governments on Monday to recognize him as president-elect to help pull the country out of a deep political crisis since a coup

A Spanish judge threatened to seize up to $100 million from Banco de Chile and individuals suspected of laundering funds for Augusto Pinochet, including the former Chilean dictator's widow.

Business activity in the U.S. Midwest expanded more than expected in November, reaching its highest level in over a year as new orders jumped, a report showed on Monday.

The top Republican on the U.S. Senate Banking Committee on Monday urged clear government procedures for dealing with large, failing financial firms.

Greystar Resources, which owns a gold project next to acquisition-target Ventana Gold's closely watched site in Colombia, could also be on the radar screen of larger mining companies looking to buy their way into the region, Canaccord Adams said on Monday.

A union representing workers at British confectioner Cadbury asked hostile bidder Kraft for a promise on employment security on Monday, saying it was increasingly worried about massive job losses.

Dubai's government said on Monday it was not responsible for the debts of its flagship conglomerate, offering little clarity on a plan to delay billions in debt repayments that has rattled world markets.

U.S. stocks declined moderately on Monday as weak data on holiday retail sales prompted questions about the consumer's ability to spend.

Global semiconductor sales rose 5.1 percent in October sequentially, spurred by strength across all regions as electronic equipment manufacturers boost production for the holiday season, the Semiconductor Industry Association (SIA) said.

Nokia plans to install Linux software on just one new smartphone next year, a source told Reuters on Monday, dampening prospects of a quick makeover of the Finnish group's struggling product line-up.

U.S. stocks fell on Monday as investors worried that the holiday shopping season might have gotten off to a tepid start as consumers trimmed purchases over the Thanksgiving Day holiday amid concerns about an uncertain economy.

Passenger demand in October rose 0.5 percent from a year ago, while air freight fell 0.5 percent, International Air Transport Association data showed on Monday.

Serena Williams was fined a record amount of $82,500 by the Grand Slam Administration for her outburst at the U.S. Open 2009 semifinals, the Associated Press reports today.

Tennis star Serena Williams received a record fine of $82,500 for her outburst at this year's US Open and could face suspension from the tournament if she has another major offense in the upcoming two years the Grand Slam committee said Monday.

A French court fined eBay Inc 1.7 million euros ($2.6 million) for violating a 2008 injunction that prevents French users of the online auction site from buying or selling LVMH perfumes and cosmetics on any eBay website.

Shares of Best Buy Co Inc , Amazon.com and American Eagle Outfitters Inc rose on Monday morning as investors bet they were gaining a larger share of spending over the holiday shopping season.

The world should cut greenhouse gas emissions by 50 percent by 2050 from 1990 levels with the bulk of the reduction coming from rich countries, according to a draft proposal by Denmark, host of Dec 7-18 U.N. climate talks.

Wind and solar park developer Scan Energy cut its expectations for what will likely be the second-largest initial public offering in Germany in 2009, after Hochtief also hit a cautious note on its planned unit IPO.

Tiger Woods' alleged mistress Rachel Uchitel, 34 has denied any involvement with the player despite admitting she met him twice.

Primary market prices for carbon offsets generated by clean energy projects under the Kyoto Protocol fell to their lowest level since July, analysts IDEAcarbon said late on Friday.

In the chill of a massive cave beneath an orthodox Christian cathedral, a city power firm is preparing what it thinks will be the greenest data center on the planet.

Citigroup Inc on Monday named Willem Buiter as the bank's new chief economist replacing Lewis Alexander, the bank said.

Investors took a dim view of early holiday season sales on Monday, with shares of Best Buy , Amazon and American Eagle Outfitters among the few positive performers on hopes they were gaining a larger share of consumer spending.

Finland's UPM-Kymmene, Metso and Fortum said on Monday they could start making wood-based bio-fuel by 2012, seeking to tap growing demand for green energy.