IBT Staff Reporter

Gold hit a record high on Monday as investors hedged against a weak dollar while Asian shares edged higher after upbeat reports from U.S. retailers underpinned confidence the global economy is recovering.

IBM launched a new cloud computing service on Monday, aiming to take on companies such as Amazon.com Inc, Google Inc, Microsoft Corp and Salesforce.com Inc.

General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.

Citigroup Inc said on Sunday it has agreed to sell its stake in Japanese telemarketer Bellsystem24 to U.S. private equity firm Bain Capital for 93.5 billion yen ($1 billion).

Oil prices clawed back some of last week's 1.4 percent losses on Monday and rose a dollar to above $77 a barrel, as a weaker U.S. dollar and improved sentiments over the economic outlook encouraged traders to push up crude prices.

Central banks will be net buyers of gold this year as they diversify away from the U.S. dollar, marking a reversal of a decades-old trend, global commodities investment fund BlackRock said on Monday in comments that helped drive bullion to fresh record highs.

China should keep the yuan stable, in part because that is beneficial for a global economic recovery, a Commerce Ministry spokesman said on Monday.

Hitachi Ltd, Japan's biggest electronics firm by sales, will raise up to $4.6 billion to shore up its capital, joining a scrum of Japanese firms tapping equity markets before a possible economic slowdown.

It is hard to believe that Ohio Attorney General Richard Cordray, with his state facing its own woes, would be hanging around Wall Street looking for a fight.

Japan's trade minister apologized on Monday for disclosing market sensitive third-quarter GDP figures to oil industry executives ahead of its official release, in an embarrassing slip for a government that took power two months ago.

Sparring Over Exchange Rates; Exxon's Poise; Sony's Dark Forecast

Japanese Trade Minister Masayuki Naoshima apologized for speaking about third-quarter GDP data to oil industry executives on Monday ahead of its official release.

China on Monday made a fresh, thinly veiled criticism of the United States for running lax monetary and fiscal policies that risk undermining the dollar.

Shares in Exxon Mobil Corp, the world's largest publicly traded oil company, could rise more than 20 percent to $90 next year if energy prices increase as expected, Barron's reported on Sunday.

Japan's Sony Corp has seen no sign of a recovery in the consumer electronics market, Chief Executive Howard Stringer said in an interview published on Sunday.

Japan's trade minister disclosed market sensitive third-quarter GDP figures to oil industry executives on Monday ahead of its official release, a source within the ministry said, in an embarrassment for a government that took power two months ago.

China's economy is expected to grow by a modest 8.5 percent next year while inflation will be subdued at about 2.5 percent, indicating that monetary policy should remain appropriately loose to solidify the basis of the recovery, a key government think-tank said on Monday. The State Information Center added that the risks of rapid credit growth could be contained and that a tightening of monetary ...

U.S. President Barack Obama and other world leaders on Sunday supported delaying a legally binding climate pact until 2010 or even later, but European negotiators said the move did not imply weaker action.

President Barack Obama's Democrats and his Republican opponents enter the 2010 election season facing voters in an anti-incumbent mood over the sour U.S. economy, increasing the political pressure on both sides.

Central banks will be net buyers of gold this year as they diversify away from the U.S. dollar, global commodities investment fund BlackRock said on Monday in comments that helped drive bullion to fresh record highs.

Singer Justin Bieber performed his hit song One Time at the New York studios of ABC's Good Morning America ahead of the release of his new album My World on November 17.

ECB governing council member Christian Noyer said on Monday that he didn't believe monetary policy played a central role in causing the global financial crisis, and that price stability should remain the main objective of central banks.

A stronger Chinese yuan is part of the reforms that Beijing needs to implement to increase domestic consumption and help ease global imbalances, the head of the International Monetary Fund said on Monday.

A stronger Chinese yuan is part of the reforms that Beijing needs to implement to increase domestic consumption and help ease global imbalances, the head of the International Monetary Fund said on Monday.

After its U.S. debut, apocalyptic film 2012 made history becoming the highest worldwide opening ever for an original movie (not based on a franchise, brand or hit novel), according to Sony Entertainment.

The United States and China sparred over exchange rates at a meeting of Asia Pacific leaders on Sunday, pointing to tricky talks ahead for President Barack Obama when he flies to China to address economic tensions.

Hitachi Ltd , Japan's biggest electronics firm by revenues, plans to raise up to 400 billion yen ($4.5 billion) by issuing new shares and convertible bonds to shore up its battered capital base, two sources familiar with the matter said.

NASA said Sunday that the weather is expected to be conducive for the launch of the space shuttle Atlantis to launch toward the International Space Station on Monday on a delivery mission.

The Aussie dollar shrugged off weak European GDP data to hold on to support at 0.9260 and rally on Friday night. Greenback weakness emerged following disappointing University of Michigan and Trade Balance data which assisted the Aussie in its rally to finish the week on its highs at 0.9340. The week ahead sees the release of several key figures with the RBA's minutes to the recent meeting kicking off proceedings on Tuesday to be followed by more RBA speak on Wednesday and the release of Q3 Wage ...