IBT Staff Reporter

Movie fans rewarded 'Iron Man' with box office success over the weekend and the film's producer Marvel Entertainment returned the favor, announcing a sequel to the film set for release in 2010.

Vietnam plans to buy more electricity from China as local energy supplies vie to keep up with the burgeoning economy.

Crude oil futures rose on Monday to $120 a barrel after another attack in Nigeria rose concerns on tight supplies from the country while the dollar fell and U.S. economic data showed demand may not be as weak as expected.

Gold futures rose on Monday, rebounding from posting losses in three consecutive weeks, as the dollar dropped against the euro and crude oil hit a new record.

U.S. stocks fell as Yahoo dropped the most in almost two years after Microsoft Corp. abandoned its $50 billion bid for the company and Countrywide Financial Corp. tumbled on concern its suitor will abandon its pending takeover.

Corn and Soybeans declined on Monday as farmers increased planting of the two crops boosted by average rainfall that brought favorable planting conditions.

Shares of Yahoo fell as much as 20 percent on Monday but recovered slightly after Microsoft withdrew its buyout bid for the Internet portal over the weekend.

Amzazon.com sued the state of New York, challenging it for the new statute that requires Internet retailers based outside New York to collect New York sales taxes.

UAL's United Airlines is contemplating asking its banks to revise the terms of its credit facility in a bid to gain crucial financial flexibility to withstand the airline industry's sharp slump, according to media reports released Monday.

China 's stock market watchdog said on Sunday it had allowed local fund management companies to set up branches in Hong Kong, which will help national fund firms become more familiar with international financial rules.

Dollar strengthened against the euro on Friday after government report showed the U.S. economy shed just 20 000 jobs in April fewer than economists had expected.

Sterling continued weak against the dollar on Friday after the release of Halifax house price survey which showed the first annual fall in property prices in around a decade boosting expectations for interest rate cuts.

Microsoft Corp. abandoned its three-month-old bid to buy internet firm Yahoo on Saturday, after the two sides failed to agree on an acceptable sale price.

Boeing Co. denied additional delays to its 787 Dreamliner jet on Saturday, after a report earlier in the day from German newspaper Die Welt said the plane would be held back an additional nine weeks.

Deutsche Telekom AG, the owner of T-Mobile USA, is considering buying mobile-phone firm Sprint Nextel, according German magazine Der Spiegel.

Warren Buffet, the billionaire investor who heads Berkshire Hathaway Inc believes the U.S. dollar will continue to be weaker versus other currencies and was happy to invest in firms which didn't earn income in dollars.

The Chinese Health Ministry issued a nationwide alert on Saturday in an effort to control the outbreak of a virus which has killed 23 children in the east of the country and is spreading.

The Federal Reserve Bank on Friday proposed rules which it says will protect consumers from unfair practices regarding their credit cards and bank overdraft services.

Technology sector stocks fell on Friday despite a strong gain from Yahoo as shares of Sun Microsystems and Netsuite sank.

Demand for U.S. Treasury notes fell on Friday after an unexpectedly small decline in jobs reduced concern over a deep and prolonged recession, cutting demand for U.S. debt.

Merrill Lynch & Co. will give its new global sales and trading executive Thomas Montag a 2008 bonus of $39.4 million, according to a regulatory filing.

Countrywide Financial Corp.'s credit rating was cut to junk on Friday by Standard & Poor's rating, after a regulatory filing called into question whether Bank of America would repay the troubled lender's outstanding debt after their planned merger.

Pharmaceutical company Pfizer Inc. has made tentative deals with patients who took its Celebrex and Bextra pain killer drugs and then sued the company for damages, according to a report from the Wall Street Journal today.

Amazon.com has filed a lawsuit against New York State's new law which forces online retailers to collect sales tax on shipments to state residents.

Bristol-Myers Squibb Co. said on Friday it will sell its ConvaTec unit to private equity firms Nordic Capital and Avista Capital Partners for $4.1 billion.

Sales people on the run will soon be able to integrate their customer information with their Blackberry smartphones.

Players of the popular Grand Theft Auto video game series have always reveled in its unique blend of beatings, shootings and vehicular mayhem.

Soaring food prices have shaken U.S. politicians' love affair with ethanol, but lawmakers are unlikely to adjust mandates for a five-fold boost in biofuel until after the November presidential election.

For many bankers and traders, the days of company perks such as sleek limos, cushy business class seats, and fat steaks are gone.