IBT Staff Reporter

In the search engine area, Google has reined king for most of recently memory but new moves from Microsoft and its Bing search engine is heating up competition.

The United States and Russia agreed on Monday an aim to cut deployed nuclear warheads to 1,500-1,675 within seven years of a new arms reduction agreement coming into force.

U.S. stocks fell on Monday as investors worried about the potential strength and timing of an economic recovery, sending oil prices and energy shares lower.

U.S. stocks fell on Monday as investors worried about the potential strength and timing of an economic recovery, sending oil prices and energy shares lower.

EMC Corp boosted its bid to buy specialty storage maker Data Domain Inc by more than 10 percent to $33.50 per share, raising the stakes in a bidding war with rival NetApp Inc. .

The Nasdaq fell 1 percent on Monday while the Dow and S&P 500 indexes dropped near session lows as investors fretted about the economy's recovery prospects.

3Com Corp is scheduled to report second quarter on Thursday, Jul 9, before the start of trading. Consensus analyst estimates are for EPS of $0.05, down from $0.09 in the year-ago period. Revenues are also expected to fall to $295 million, down 8% from the $321 million 3Com reported in fiscal Q4 2008.

Oil fell to below $65 a barrel on Monday and touched a five-week low earlier in the session, pressured by doubts over the prospects for a recovery in the global economy and energy demand.

China Mengniu Dairy said on Monday that it will raise HK$3.058 billion ($394.6 million) from a share sale to China National Oils, Foodstuffs and Cereals Corp (COFCO) and Hopu Investment Management.

The European Union on Sunday denounced Iran for a recent spate of executions, highlighting Saturday's hanging of 20 drug traffickers.

Brazilian state oil company Petrobras said Monday it suspended test production at a well in the offshore Tupi field due to an equipment problem.

Hong Kong conglomerate Hutchison Whampoa has asked potential buyers to submit bids for its majority stake in Israel's Partner Communications by Wednesday, the Maariv newspaper said on Monday.

France's Sanofi-Aventis said the results of a study on the link between its Lantus diabetes drug and retinopathy, which causes blindness, showed the risk for patients was not greater than with human insulin.

Some main events coming up this week.

India's Tech Mahindra said on Monday it would still look to boost its stake in Mahindra Satyam through a purchase of new shares direct from Satyam, after a public offer received a poor response.

A North Korean ship tracked by the U.S. Navy on suspicion of carrying a banned arms cargo is expected to return home on Monday after a voyage that tested U.N. sanctions aimed at punishing Pyongyang for its May nuclear test.

Iran's Supreme Leader Ayatollah Ali Khamenei warned Western countries on Monday against interfering in Iranian affairs after its disputed presidential election, state television reported.

U.S. President Barack Obama's visit to Russia has generated over $1.5 billion worth of deals, but a longer term step-change in business between the nations will depend on Moscow boosting the rule of law.

President Barack Obama, opening a visit to Russia intended to mend strained relations, said on Monday he was confident of extraordinary progress if both sides worked hard together during his trip.

Honduras blocked ousted President Manuel Zelaya's return from exile on Sunday and the country faces growing international isolation for staging Central America's first military coup since the Cold War.

At least 140 people have been killed in rioting in China's northwestern region of Xinjiang, with the government blaming exiled separatists for the Muslim area's worst case of unrest in years.

The Group of Eight nations should not presume a global economic recovery is near, World Bank President Robert Zoellick said in a letter to G8 host Italian Prime Minister Silvio Berlusconi obtained by Reuters on Monday.

Don McCullough shares a story of hope and encouragement from his writing, Walking from the American Dream, about Winston Churchill.

Oil fell to around $64 a barrel on Monday and touched a five-week low, pressured by doubts over the prospects for a recovery in the global economy and energy demand.

China will begin construction of a 120-billion yuan ($17.6 billion) wind power project in about two weeks in Gansu province as part of a major push to boost renewable energy and cut the nation's reliance on coal, the official Xinhua news agency reported.

Wall Street was poised to fall nearly 1 percent at the open on Monday, weighed by worries about the potential strength and timing of an economic recovery as a slump in oil prices was set to pressure energy shares.

The Brazilian government's plans to change the nation's oil law will not turn state-controlled oil company Petrobras into an outsourcing producer of crude nor hinder its ability to bid for exploration permits, a local newspaper said on Monday.

Porsche on Monday denied a newspaper report which said five more potential bidders have emerged for a Porsche-owned derivatives package which controls around 20 percent of Volkswagen voting shares.

India's Oil and Natural Gas Corporation and Russian companies are among those interested in buying a stake in Repsol's Argentine unit YPF, a Spanish business newspaper reported on Monday.