IBT Staff Reporter

Shares in Sony Corp lost nearly 6 percent on Monday as investors shrugged off the electronics maker's upward revision to its earnings forecast and sold on worries over the U.S. market and a stronger yen.

Barely a month goes by without some new energy or mineral deal being struck between China and an African nation. These deals have transfixed the West, but China gets far more from the relationship than raw resources.

Bank of New York Mellon Corp Chief Executive Robert Kelly was recently approached about taking the CEO job at Bank of America Corp , but he has shown no interest in the job, The Wall Street Journal reported.

CIT Group Inc, a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans.

The yen rose to two-week highs while the U.S. dollar clung to gains on Monday as jittery investors cut back long positions in growth-linked currencies.

U.S. factory workers at Ford Motor Co overwhelmingly rejected proposed concessions it has said it needs to stay competitive, while union workers in Canada on Sunday accepted cuts aimed at retaining jobs.

The U.S. economy has been kick-started into growth but stock investors still face an uncertain outlook as Wall Street gears up for comments from the Federal Reserve and a key report on employment this week.

The Australian Dollar begins the new week sharply lower against the greenback at 0.8990. After a local session of range-trading on Friday which saw the Aussie move as high as 0.9174, volatility returned offshore as U.S consumer spending fell 0.5 per cent in September as economic stimulus starts to dry up. High yielding currencies came under selling pressure throughout the New York trading session as the data indicated that consumers will make a limited contribution to the recovery without govern...

CIT Group Inc, a century old lender to hundreds of thousands and small and medium-sized businesses, filed for bankruptcy on Sunday, as the global credit crisis left it unable to fund itself and the recession clobbered its loans.

The U.S. economy may have turned a corner after the deepest recession in some 70 years, but Federal Reserve policymakers appear to be in no rush to raise interest rates.

A popular website of classified ads that has given Cubans a taste of the free market has been blocked on the communist-run island, Internet users said.

U.S. securities investigators raised repeated concern over how Bernard Madoff could be running an honest business, but never followed through on the many red flags they uncovered.

Canadian auto parts maker Magna wants Herbert Demel, the head of its Austrian car development and assembly plant, to become head of Opel, a German magazine said, citing sources.

A giant silver teapot shines in the pale sun outside the Alessi factory, its scale a measure of how in the 1980s and 90s Italian kitchenware, from espresso-makers to lemon-squeezers, grew into objects of desire.

U.S. retailers are expected to post positive October sales results this week, but investors hoping for a clear signal on economic recovery could be in for disappointment, industry experts said.

President Barack Obama said on Saturday this week's positive job and economic growth figures proved that his big spending efforts to stimulate the economy were working.

- Move over Switzerland. The tiny state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday.

- Move over Switzerland. The tiny state of Delaware beats the Alpine country in a contest for the most secretive financial jurisdiction, a tax justice rights group said on Saturday.

A former top executive at hedge fund firm ValueAct Capital is one of seven people charged with trading on inside information in Acxiom Corp.

The Securities and Exchange Commission is in settlement talks with several large financial institutions to resolve investigations into the awarding of municipal investment contracts, the Wall Street Journal reported on Saturday.

Brazil's government is working on a broad overhaul of the country's currency laws following a strong runup of the nation's currency this year, the president of the central bank said in an interview published on Saturday.

TeleNav Inc, a Silicon Valley-based provider of voice-guided navigation services for mobile phones, filed plans with U.S. regulators on Friday to raise as much as $75 million in an initial public offering.

Banco do Brasil, Brazil's biggest bank, wants to fetch up to 10 billion reais ($5.7 billion) in a share offering in the United States to replenish its capital base, newspaper O Estado de S. Paulo reported on Saturday, citing unnamed sources.

The International Association of Machinists and Aerospace Workers said on Friday that it withdrew its application to hold a representation election for fleet service workers at Delta Air Lines Inc, a move the U.S. carrier called repugnant.

Investor Warren Buffett's Berkshire Hathaway Inc sold 2.9 percent of its holdings in debt ratings agency Moody's Corp this week, raising $28.7 million in the transaction, according to a regulatory filing on Friday.

President Barack Obama said on Saturday this week's positive job and economic growth figures proved that his big spending efforts to stimulate the economy were working.

The third typhoon to hit the Philippines in five weeks slammed into the main island of Luzon on Saturday, uprooting trees and toppling power lines, but there were no immediate reports of widespread damage.

Japan is preparing new aid for Afghanistan of up to $5 billion (3 billion pounds) to be used to help former Taliban fighters find jobs and build roads, a big increase from previous commitments, the Nikkei newspaper said on Saturday.

Somali pirates said on Saturday that a captured British couple had been moved on shore from a container vessel and that there was a dispute between different groups over the two Britons.