IBT Staff Reporter

The turbulence on global financial markets will clearly affect the UK economy and inflation but it is too early to tell by how much, Bank of England hawk Andrew Sentance said on Monday.

Video game aficionados lined up before dawn on Monday for the midnight release of Halo 3, the acclaimed alien shooter game that Microsoft Corp hopes will widen its lead over Sony Corp in the battle for industry dominance.

Turmoil in global credit and money markets will likely continue as investors worry about the size of financial losses and where they might arise, the International Monetary Fund said on Monday.

Harman International Industries Inc, whose $8 billion sale fell apart last week, warned on Monday that quarterly profit would be less than half what Wall Street expected, sending its shares down as much as 8 percent.

Microsoft Corp is talking to Facebook about an investment in the company that could value the fast-growing social network at $10 billion or more, the Wall Street Journal reported on its Web site on Monday.

Sales of next-generation DVD players are not seen as likely to take off for another 18 months as consumers are still waiting for prices to fall and for the battle over two competing technologies to be resolved.

Google Inc is considering a Canadian launch of its Street View map feature, which offers street-level close-ups of city centers, but would blur people's faces and vehicle license plates to respect tougher Canadian privacy laws, the Web search firm said on Monday.

New York gold futures ended firmer near 28-year highs on Monday after the dollar fell to an all-time low against the euro.

New York State Attorney General Andrew Cuomo said on Monday his office has subpoenaed Facebook, accusing the social networking site of not keeping young users safe from sexual predators and not responding to user complaints.

National regulators need to agree on a basic set of global privacy protections for the Internet within the next five years, a senior official with web searcher Google said on Monday.

Apple said on Monday that unauthorized programs, or hacks, available though the internet that allow the phone to be used with unauthorized service providers could irreparably damage the device.

Iranian President Mahmoud Ahmadinejad is set to visit Bolivia on Thursday, the first time an Iranian leader has visited the impoverished South American country, to solidify diplomatic ties and sign aid agreements.

More than 73,000 General Motors Corp workers walked off the job on Monday after marathon contract talks between the United Auto Workers union and GM stalled and the union called the first national strike since 1970 against the top U.S. automaker.

Argentina's September tax revenue is on track to rise more than 30 percent from the same month a year ago, an Economy Ministry source said on Monday. With a week remaining in September, monthly tax collection is set to exceed 17 billion pesos ($5.32

An advocacy group for low-income housing on Monday accused Morgan Stanley of discriminating against minority borrowers seeking mortgages.

Stocks shifted on Monday with gains in the technology sector unable to sustain a broader declining market, which began to rally last week amid the Fed's bold rate cut.

Vivendi condemned as indecent the contract terms between its Universal Music Group (UMG) unit and Apple Inc, the computer maker whose iTunes online store dominates the digital music market.

Abu Dhabi National Energy Co will buy Canada's Primewest Energy Trust for C$5 billion in cash, Primewest said on Monday, as the state-controlled firm makes good on plans to turn its new Canadian unit into a major oil producer.

Stocks slipped on Monday as concern about the impact of the housing slump and credit squeeze hurt shares of financial companies.

Developing and industrialized countries are continously working hard through negotiations, in Doha, to reach a new International Trade Agreement (ITA). However, there is increasing recognition that even if there was free trade between nations, many countries

Deutsche Bank's profit could be hit by up to 1.7 billion euros ($2.4 billion) due to loans that have dwindled in value as a result of the credit market crisis, sources familiar with the situation said.

Wal-Mart Stores Inc has formed a partnership with the Carbon Disclosure Project to look for ways for its suppliers to better manage their energy efficiency, as part of its environmental push, the company said on Monday.

Crude oil fell for a second day towards $81 a barrel, retreating from record highs hit last week as producers in the Gulf of Mexico returned workers to oil rigs evacuated last week.

Bankruptcy courts would be allowed to alter mortgages written by predatory lenders in moves that could save 600,000 Americans from foreclosure, according to the author of a bill introduced in the U.S. Representatives on Friday.

Investors' confidence in the U.S. economy fell in September for a fourth straight month to its lowest level in 13 months on continued concerns about the housing market and elevated energy costs, a survey showed on Monday.

The U.S dollar hit an all-time low against the euro on Monday over concerns that the ailing housing sector could trigger the Fed to cut the interest rate even further.

Privately held Revenue Science will offer behaviorally targeted advertising services on Internet-browsing cell phones in Japan, entering a new field for sending commercials based on a consumer's Web habits.

News Corp's Fox Interactive Media said on Monday it plans to launch advertising-supported versions of its popular Internet social network MySpace and other properties for free on cell phones.

Japan's prime minister-to-be, Yasuo Fukuda, named his party lieutenants on Monday as he braced for a showdown with a combative opposition amid calls for early elections after a disastrous year for the ruling coalition.