IBT Staff Reporter

Billionaire Kirk Kerkorian, the controlling shareholder of MGM Mirage , has acquired more shares of the casino operator, according to a securities filing on Monday, and its shares rose more than 7 percent.

A Turkish court ruled on Monday that President Abdullah Gul should stand trial for a fraud case dating to the late 1990s, a move that will highlight tension between the ruling Islamist-rooted party and a conservative secularist establishment.

The new flu strain is spreading widely in the United States and Japan and is likely to circulate worldwide, health officials said on Monday.

Pakistan's army will finish its offensive against Taliban militants in the Swat valley and ensure peace, Prime Minister Yusuf Raza Gilani said on Monday as he rallied the support of political parties.

Lowe's Cos Inc posted better-than-expected quarterly profit on Monday as it saw some strength in outdoor projects during the spring, even as consumers still shunned big-ticket home renovations.

Sri Lankan troops won the final battle in one of the world's most intractable separatist wars, and put the island nation under government control for the first time since 1983, the military said.

Technology companies are detecting signs of improvement in their industries, sending their share prices higher, but demand from consumers and corporations is uncertain.

Myanmar opposition leader Aung San Suu Kyi went on trial on Monday and faces a further five years in detention, sparking threats of tougher international sanctions against the military regime.

Vice President Joe Biden makes the highest-level U.S. visit to Serbia in a quarter century this week seeking a new diplomatic start in the Balkans, a region where Washington twice intervened militarily in the 1990s.

Vast stockpiles of nuclear weapons amassed during the Cold War could become the catalyst for a thaw in relations this week between the United States and Russia.

Israeli Prime Minister Benjamin Netanyahu will stress the need for urgency in dealing with Iran's nuclear ambitions when he meets U.S. President Barack Obama on Monday, a senior Netanyahu adviser said.

Stocks opened higher on Monday as stronger-than-expected quarterly results from No. 2 U.S. home improvement chain Lowe's Cos Inc boosted hopes the recession was abating and spending was stabilizing.

The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp to intensify this coming week ahead of an end-of-May deadline set by the Obama administration.

U.S. prosecutors have broadened their criminal investigation of the Bernard Madoff case beyond the friends and family of the confessed swindler to at least eight investors and associates, The Wall Street Journal reported on Monday, citing people familiar with the matter.

Stocks headed for a higher open on Monday as stronger-than-expected quarterly results from No. 2 U.S. home improvement chain Lowe's Cos Inc boosted hopes the recession was abating and spending was stabilizing.

German solar companies that have not yet set up U.S. and Chinese production plants are likely to lose out on significant subsidies and will struggle to bring down their production costs to the levels of their Asian peers.

Samsung Electronics, the world's top TV brand, aims to outperform the overall flat-panel television market's growth this year, thanks in part to its newly launched LED models, a senior official said.

AIG is to speed up plans to list its Asian subsidiary through an IPO that could raise more than $4 billion, as the bailed-out U.S. insurer seeks to raise cash to pay back government loans.

Stock index futures rose on Monday as stronger-than-expected quarterly results from No. 2 U.S. home improvement chain Lowe's Cos Inc further boosted hopes the recession was abating and spending was stabilizing.

Lowe's Cos Inc posted a higher-than-expected quarterly profit on Monday and raised its forecast for the year, sending its shares up 11.1 percent in premarket trade.

State Street Corp said on Monday that it planned to sell stock and bonds to position itself to repay a taxpayer infusion, and took a $3.7 billion after-tax charge as it moved asset-backed commercial paper conduits onto its balance sheet.

The Obama administration's budget chief said on Sunday there are signs that the free-fall in the economy seems to have halted.

Oil rose to around $57 a barrel on Monday as traders saw the previous session's near 4 percent fall as excessive and violence in Africa's top oil exporter Nigeria lent support.

Germany could send a negotiation team to the United States at the end of the week to discuss solutions for General Motors unit Opel, Economy Minister Karl-Theodor zu Guttenberg said on Monday.

Equities in Europe and Japan fell on Monday although emerging markets got a big boost from Indian elections which raised hopes of a stable, pro-economic reform government.

Oil bounced back to $57 a barrel on Monday, recouping some of the previous session's near 4 percent loss, buoyed by short-covering despite a still uncertain outlook for the global economy.

Most Asian stock markets fell on Monday on concerns about corporate profits and a still-uncertain outlook for the global economy, but Indian shares surged following the ruling coalition's sweeping election victory.

Oil hovered little changed above $56 a barrel on Monday, pausing from the previous session's near 4 percent loss, as the market awaited further economic data and movements in equities markets for directions.

AIG said it would accelerate plans to separate its Asian subsidiary through an initial public offering as the bailed-out U.S. insurer seeks to raise cash and list the unit as soon as possible.