IBT Staff Reporter

The U.S. Federal Reserve is expected to say Goldman Sachs Group Inc, JPMorgan Chase & Co and perhaps a few other banks will be allowed to repay money to the Troubled Asset Relief Program, The Wall Street Journal said on Monday, without saying where it got the information.

Israeli soldiers Monday killed three Palestinian militants who had planned to blast open Israel's fenced border with the Hamas-run Gaza Strip using horses laden with explosives, the military said.

Searchers found 15 more bodies from a crashed Air France jet on Sunday and retrieved a large amount of debris from the plane that plunged into the Atlantic ocean in the worst air disaster since 2001.

Spectra Energy units Maritimes Canada and Maritimes U.S. said in separate website postings over the weekend that the Sable Island Offshore Energy Project in Nova Scotia had returned to normal output levels after decreasing production late last week.

The Chinese government has required that personal computer makers bundle software that filters Internet content from July 1, raising concerns over cyber-security as well as Internet freedoms.

As students study for final exams, the retail industry is gearing up for its biggest test so far this year -- the back-to-school shopping season. After cutting costs to cope with slack consumer demand during the recession, retailers hope the economy will start to recover in the second half of the year.

The U.S. job market strengthened in May for the first time in 16 months, indicating that while job loss figures remain deep in the woods a recovery, albeit slow, is in sight, a research group said on Monday.

Volkswagen's Audi emerged as the clear winner among Germany's luxury carmakers in May, posting a far smaller decline in global vehicle sales than either BMW or Mercedes-Benz.

Italian unions have not been invited to any meeting between Fiat SpA and the government to discuss the future of the Melfi plant in southern Italy, a union leader said on Monday.

Fitch Ratings on Monday said it expects to keep its top rating on the most senior commercial mortgage-backed securities for the

A diabetes drug from Switzerland's Roche Holding AG showed promising results in a mid-stage trial and will be developed further, the company said on Monday.

GlaxoSmithKline's experimental diabetes drug Syncria seems comparable to but not significantly better than other so-called GLP-1 medicines, industry analysts said on Monday.

Belgian-based financial group Fortis said on Monday it faces a legal claim for 362.5 million euros ($506 million) from a former unit now owned by the Dutch state.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, on strong demand in Europe and Asia/Pacific.

The U.S. automobile industry had quite a party during the recent credit-infused economic boom, but the hangover could last for years to come.

Russia sees the expertise of German auto maker Opel as its chance for a technological breakthrough in its ailing car industry, a top Russian government official said on Saturday.

Solar firm SunPower Corp. said Monday it signed a deal with Jabil Circuit to manufacture solar panels in Mexico for the North American market.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, with demand strong in Europe and Asia/Pacific.

Oil fell by $1 toward $68 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Stocks opened lower on Monday after McDonald's warned on its second-quarter profit and on concerns that a push by banks to repay government bailouts may divert funds from an economic recovery.

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Edward Krudy

The 10-year U.S. Treasury yield hit a seven-month high on Monday ahead of fresh supply this week and because of speculation the Federal Reserve may have to raise interest rates sooner than anticipated.

Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) CEO Jeroen van der Veer said on Monday that looking at current poor margins, the world has more oil refining capacity than needed.

Britain's Prime Minister Gordon Brown faced the prospect of a new challenge to his leadership on Monday when support for his ruling Labour Party plunged to its lowest level in a century after European elections.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, on strong demand in Europe and Asia/Pacific.

President Barack Obama said on Monday he expected to create or save 600,000 jobs over the next 100 days by expediting 10 major projects funded by a huge stimulus package that Congress passed in February.

The French Budget Ministry has made European Union carbon emissions permits and Kyoto offsets exempt from value-added tax, emissions exchange BlueNext said, adding that spot trade will remain halted until Wednesday morning.

North Korea, facing U.N. sanctions for last month's nuclear test, on Monday raised the stakes in its growing confrontation with Washington by sentencing two U.S. journalists to 12 years hard labor for grave crimes.