IBT Staff Reporter

U.S. stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck's proposed a $41 billion takeover of Schering-Plough .

U.S. stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck's proposed a $41 billion takeover of Schering-Plough .

Taking advantage of a government program approved last year designed to provide liquidity to financial institutions during the credit crisis, Bank of America Corp. has sold $8.5 billion of debt backed by the Federal Deposit Insurance Corp., according to a report.

U.S. stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck's proposed a $41 billion takeover of Schering-Plough .

Oil jumped more than 3 percent to $47 a barrel on Monday as a naval incident between the United States and China, the world's top oil consumers, boosted geopolitical tensions and as dealers pondered the possibility of deeper production cuts by OPEC.

Top executives of leading U.S., Japanese and European banks will meet in London this month to discuss regulation and other issues key to the future of the financial system, two industry sources said.

NEW YORK - Quaker Oats is launching a new marketing campaign that for the first time includes all its products under one message that emphasizes the health benefits of its main ingredient -- whole grain oats.

Roche Holding AG is in talks to buy the shares of Genentech Inc it does not already own for about $95 each, a source familiar with the situation said on Monday.

Serbia and Italy signed a deal on joint investment on Monday in power production and transmission facilities, pledging to work closely on gas and oil pipeline projects.

Roche Holding AG is in talks to buy the shares of Genentech Inc it does not already own for about $95 each, a source familiar with the situation said on Monday.

Cisco Systems Inc said it will unveil next week a new strategy to help customers build more efficient data centers, amid expectations for the network equipment maker to announce it will start selling servers.

Google has agreed to settle an intellectual property claim brought by serial inventor Judah Klausner, who has won settlements in the past from Apple, Skype and LG Electronics, Klausner said on Monday.

Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.

Oil jumped more than 3 percent to over $47 a barrel on Monday on speculation producer group OPEC may cut output again and a naval incident between the United States and China, the world's top oil consumers.

Stocks fell in choppy trade on Monday as gains in the energy and banking sectors were more than offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

Oil rose more than $1 to near $47 a barrel on Monday on speculation OPEC may cut output again when it meets on Sunday.

Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.

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The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

NASA has approved a new mission for Discovery's STS-119 to the International Space Station after reviewing its potentially hazardous hydrogen flow control valve.

Oil rose above $47 on Monday after renewed buying on speculation OPEC may cut output again at its Sunday meeting.

The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

Google has agreed to settle an intellectual property claim brought by serial inventor Judah Klausner, who has won settlements in the past from Apple, Skype and LG Electronics, Klausner said on Monday.

Human Genome Sciences' drug to treat chronic hepatitis C met the main goal in a late-stage trial, but failed to show numerically better efficacy compared to standard-of-care, raising questions about the drug's adoption and sending shares crashing to an all-time low.

Chartered Semiconductor, the world's third largest contract chip maker, said it plans to raise $300 million through a rights issue to shore up its finances amid a deep industry downturn.

MANILA - Manila Electric Co (Meralco) said companies allied with the country's dominant telecommunications firm PLDT had acquired a more than 10 percent stake in Philippines' biggest power retailer.

McDonald's Corp posted a 1.4 percent rise in February sales at restaurants open at least 13 months, as strength in the United States helped offset the impact of the stronger dollar.

After selling his online ad company Tacoda to AOL for a reported $275 million a year-and-a-half ago, Dave Morgan figured he'd start to focus on backing other entrepreneurs.

The global economy may be nearing a turning point although financial markets are still underestimating the potential for a recovery, top central bankers said on Monday.