IBT Staff Reporter

Samsung Electronics, the world's second-biggest maker of mobile phones, launched a new touch-screen model on Monday while expressing confidence it would expand its global market share despite the downturn.

(Corrects Dow reference in paragraph 3 to Last Friday, the Dow ... turned positive for the year for the first time since early January.)

U.S. stocks sold off broadly on Monday as regional manufacturing data sparked fresh concerns about the economy's health, while sliding commodity prices hit shares of natural resource companies.

U.S. stocks sold off broadly on Monday on as regional manufacturing data sparked fresh concerns about the economy's health, while sliding commodity prices hit shares of natural resource companies.

The Obama administration will target critical weaknesses in the troubled U.S. financial system, such as thin bank capital cushions and eroded lending standards, when it proposes an overhaul of financial regulation this week, two senior officials said on Monday.

Senior Obama administration officials on Monday said in a newspaper op-ed piece that a landmark financial regulation reform plan to be released this week will target capital requirements, securitization and other problem areas blamed for the global financial crisis.

Qatar Airways ordered 24 planes from Airbus as the world's largest air show opened in Paris on Monday, the Gulf carrier flexing its financial muscles as many recession-hit rivals struggle to find funds.

Oil fell more than 3 percent to below $70 a barrel on Monday, extending its retreat from a near eight-month high as the dollar firmed and stock markets tumbled.

Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.

The International Monetary Fund on Monday said a heavy dose of stimulus would ease the U.S. recession this year and lift growth marginally in 2010.

The International Monetary Fund on Monday said a heavy dose of stimulus would ease the U.S. recession this year and lift growth marginally in 2010.

New York City real estate prices are looking increasingly shaky as instability in two of the city's sexier submarkets -- second homes in the Hamptons, and new condos in Manhattan -- register the latest signs of a housing downturn.

Citigroup Inc and the private sector arm of the World Bank have struck a deal to offer a $1.25 billion funding facility intended to stimulate emerging markets trade over three years.

U.S. stocks slid on Monday as retreating commodity prices drove a selloff in the shares of natural resource companies, while Goldman Sachs' downgrade of Wal-Mart Stores Inc pulled the discount retailer's stock down more than 2.6 percent.

The U.S. economy looks closer now to a turning point than it did just two months ago as the Federal Reserve's aggressive policies start to kick in more solidly, Chicago Federal Reserve Bank president Charles Evans said on Monday.

NASA officials announced plans in Monday to launch space shuttle Endeavor on Wednesday after delaying the Saturday’s initial launch due to a hydrogen leak.

The slumping factory sector in New York state shrank at a more severe rate in June than during the previous month, the New York Federal Reserve said in a report on Monday.

Oil fell to around $71 a barrel on Monday, extending its retreat from a near eight-month high as the dollar firmed and analysts said the market had rallied too quickly.

Lincoln Financial Group said it would take federal bailout money and sell stock and debt to raise $2 billion to shore up its insurance unit and repay older debt.

Goldman Sachs senior investment strategist Abby Joseph Cohen said on Monday that risk aversion has eased, while inventory rebuilding and new business spending bode well for an economic recovery that could provide a dramatic surge in corporate profits by year end.

U.S. Treasury Secretary Timothy Geithner said on Monday the financial system was beginning to thaw but any renewed pick-up in the economy would likely be slower than usual.

Goldman Sachs senior investment strategist Abby Joseph Cohen said on Monday she does not expect major announcements from a meeting of U.S. Federal Reserve policymakers next week, and that market fears of inflation are spectacularly premature.

Russian regional fixed-to-mobile telecom operator UralSvyazInform said on Monday its 2008 net profit rose by 10.4 percent, helped by growing sales of mobile and Internet services.

A second nuclear test by North Korea has wasted a long-awaited chance for progress in global nuclear disarmament and rekindled a climate of confrontation, the head of the U.N. atomic watchdog said on Monday.

Europe's airlines appear to have just suffered their worst month yet of the downturn, with preliminary traffic figures down 9 percent year-on-year in May, the Association of European Airlines said on Monday.

Investment in renewable energy will likely drop 38 percent worldwide in 2009, an official from the International Energy Agency said on Monday from Bucharest at the Eurelectric annual convention.

European Union foreign ministers welcomed Monday the Israeli prime minister's conditional endorsement of a future Palestinian state, but said it was not enough to raise EU-Israel ties to a higher level.

Royal Dutch Shell Plc has increased its floating storage capacity for fuel by about 1.3 million barrels, shipbrokers and traders said on Monday.

The dollar rose across the board on Monday after Russia said the U.S. currency's role as the world's main reserve currency was unlikely to change in the near future, hitting energy and commodity prices and related shares.