IBT Staff Reporter

The U.S. government and the largest Swiss Bank, UBS, are in talks to settle a lawsuit whereby the U.S. government is seeking the names of American account holders suspected of offshore tax evasion. The court hearing for this case is scheduled For August 3.

A U.S. bankruptcy judge gave General Motors Corp permission on Monday to buy several assets of bankrupt auto parts supplier Delphi Corp as part of a deal with a private equity firm that could take Delphi out of bankruptcy.

The Desertec Industrial Initiative, the world's most ambitious solar power project, will map out investment plans by 2012 to develop carbon-free energy that could supply up to 15 percent of Europe's needs by 2050.

The Chicago Cubs baseball team may file for Chapter 11 in order to speed its sale by bankrupt media company Tribune Co , two sources familiar with the process said on Monday.

Banks led U.S. stocks sharply higher in a volatile session on Monday, after positive comments on financials from normally bearish analyst Meredith Whitney sparked hopes for the sector ahead of earnings.

Deep talks for U.S., UBS; Massive solar project, Honda pushing 2 new hybrids

Abu Dhabi-based Aabar Investments has purchased 40 percent of Daimler AG's stake in electric-car start-up Tesla Motors Inc, with the aim of launching a joint venture, Aabar said on Monday.

A group of companies outlined a massive solar project in North Africa called Desertec. Honda Motor Co. Chief Executive Officer Takanobu said on Monday it plans to make a hybrid version of its compact car Fit model and the CR-Z sports car in 2010

Microsoft Corp will release a free version of its dominant Office software that users can access over the Web, catching up with products that arch rival Google Inc launched three years ago.

Stocks rose on Monday, sending the Dow Jones industrial average up 1 percent, as bank shares advanced following an upgrade of Goldman Sachs Group . and bullish comments from an influential analyst.

Canadian copper miner Quadra Mining Ltd said quarterly production at its Nevada-based Robinson mine and Arizona-based Carlota mine was below expectations, and cut its full-year production outlook for both mines.

Well your bags are packed and you're ready to go, the taxi's waiting he's... Yeah, we know. So do The Chad Mitchell Trio, John Denver, Joni Mitchell, Jewel, Bjork and several seventh-grade chorus classes who are practicing as you read this.

The new H1N1 influenza virus bears a disturbing resemblance to the virus strain that caused the 1918 flu pandemic, with a greater ability to infect the lungs than common seasonal flu viruses, researchers reported on Monday.

Stocks rose on Monday in a choppy session after influential bank analyst Meredith Whitney upgraded Goldman Sachs Group and sparked hopes corporate quarterly results in the financial sector may be surprisingly strong.

A family doctor and a six-year-old girl have died after catching H1N1 flu, health officials said on Monday, days after the first British death from the infection in an otherwise healthy patient.

Regulators will have powers for the first time to punish banks in the European Union whose pay policies encourage too much risk-taking, under a draft law published by the bloc's executive body on Monday.

With U.S. unemployment at a 20-year high, some Americans are working for free while looking for a job, but experts are split over whether it is a sign of dedication or desperation.

Barclays has hired mergers and acquisitions banker Mark Todd from Citigroup, a person familiar with the matter said on Monday, the latest in a string of hires as the British bank beefs up in European M&A.

Stocks rose on Monday, recovering from an earlier drop, as an analyst's bullish assessment of bank performance lifted financials.

There is a strong chance the United States and other leading economies will start growing again over the next few quarters, but big risks to the outlook remain, U.S. Treasury Secretary Timothy Geithner said on Monday.

Israel on Monday dismissed and the Palestinians welcomed a call by the European Union's foreign policy chief for U.N. recognition of a Palestinian state if negotiators fail to achieve a peace agreement.

Valero Energy Corp said Monday a gasoline-producing fluidic catalytic cracking unit at its 287,000 barrel-per-day Port Arthur, Texas refinery was back at planned rates following a Friday malfunction.

A defeated candidate in Iran's disputed election has said the Islamic system may face collapse unless it embraces change, in unusually blunt language from a prominent establishment figure.

Aberdeen Asset Management said on Monday it had agreed to sell former Credit Suisse funds with 858 million pounds ($1.38 billion) in assets to Premier Asset Management.

Roche Holding AG's Tarceva cancer drug improved the survival of patients with advanced lung cancer when used immediately after initial chemotherapy, the Swiss group said on Monday.

British Airways has not ruled out a major rights issue to help shore up its balance sheet but analysts see such a move as an absolute last resort and one that could destroy management credibility.

Chinese police shot dead two people on Monday in renewed unrest in the far northwestern region of Xinjiang, state media said, after at least 184 people died in riots last week.

Judge Sonia Sotomayor, who has been nominated by President Barack Obama to the U.S. Supreme Court, begins her confirmation hearings on Monday before the Senate Judiciary Committee.

Friends Provident rejected a takeover proposal from Clive Cowdery's Resolution Ltd, saying the entrepreneur's terms were inadequate, his company was opaque and a tie-up would hobble the life insurer's management.