IBT Staff Reporter

Sony Corp. slashed the price of its next-generation Playstation 3 game console late Sunday as it attempts to regain market share lost to rivals Microsoft and Nintendo.

Billionaire investor Carl Icahn's American Real Estate Partners LP raised its takeover offer for Lear Corp. to about $3 billion, but the auto parts maker's second biggest shareholder remained unconvinced.

Shareholders wrap up voting on Monday on a merger deal that would combine the parents of the Chicago Mercantile Exchange and Chicago Board of Trade to create the world's largest derivatives exchange.

Bayer AG's experimental pill rivaroxaban is significantly more effective than standard injections of Lovenox in preventing blood clots after knee surgery, researchers said on Sunday.

An escalating dispute between Airbus and jet-engine supplier General Electric Co could delay deliveries of the European airplane maker's A350 extra wide body jet, the Wall Street Journal said on Monday.

Sony Corp. cut the price of the PlayStation 3 by $100, or 17 percent, in the United States on Monday, a move that should boost the video game console's lackluster sales.

Roche Holding AG has signed a deal worth up to $1 billion with Alnylam Pharmaceuticals Inc., giving it access to the U.S. firm's skills in the new science of RNA interference.

Oil prices edged lower on Monday after reaching an 11-month high late last week, as light post-weekend profit-taking was limited by concerns over U.S. fuel supplies, Nigerian crude shipments and North Sea maintenance.

General Motors sales outgrew the broader European car market in the first half as a surge in demand for its Korean-built Chevrolet brand cars offset a hefty decline in Saab sales, the automaker said on Monday.

World oil demand will rise faster than expected to 2012 while supply lags, the International Energy Agency said on Monday, leading to a tighter market than previously anticipated.

As if it wasn't hard enough to invest $200 billion, the managers of China's new state asset agency face a new headache: growing financial protectionism.

Gold crawled higher on Monday on bullish energy prices and slight falls in the dollar, while Tokyo futures prices rallied to a two-week high.

Two main Egyptian stock indexes broke lifetime closing highs on Sunday as Orascom Construction Industries continued a share price rise sparked by fresh expansion, traders said.

U.S. stocks could rise this week if the first wave of quarterly earnings inject optimism about results for the period and on economic growth that has surprised on the upside.

Package delivery company FedEx Corp. could become a target for private equity buyers because of its modest valuation and turnaround potential, Barron's reported in its July 9 issue.

A stronger-than-expected reading on Japanese machinery orders pushed up machinery stocks such as industrial robot maker Fanuc Ltd. on Monday, sending the Nikkei average 0.55 percent higher.

United Engineers, Singapore's biggest builder by market value, plans to reduce its dependence on the volatile property and construction industries by investing in the wastewater treatment business in China.

Australia and New Zealand Banking Group Ltd. said on Monday it had acquired a 10 percent stake in Vietnam's top stock broker Saigon Securities Inc. for US$88 million, further boosting its Asian expansion.

Microsoft Corp. said on Monday it does not expect hardware problems to affect sales of its Xbox game console in Japan.

Rubles, rupees and renminbis will be a much bigger part of mom and pop's portfolio in less than 10 years as consumers become more tolerant of risk-taking and more knowledgeable about global economies, according to a study released on Monday.

Dow Jones & Co., which has been in talks for a takeover by News Corp., will meet with supermarket magnate Ron Burkle as Dow Jones explores its options, a source familiar with the situation said on Sunday.

Boeing Co. unveils its 787 Dreamliner on Sunday, the first commercial plane predominantly made of carbon-composite materials, and Boeing's first all-new plane in more than a decade.

Boeing Co. unveiled its lightweight, carbon-composite 787 Dreamliner on Sunday in front of 15,000 cheering employees, customers and suppliers, capping a weekend of hype and a flurry of orders for the new fuel-efficient plane.

German low-cost airline Air Berlin said on Saturday it ordered 25 of Boeing Co.'s new 787 Dreamliner planes, in a deal worth $4 billion at list prices.

The IntercontinentalExchange Inc. may still raise its bid for the Chicago Board of Trade, even at the risk of overpaying, after rival suitor Chicago Mercantile Exchange Holdings Inc. sought to deliver a knockout blow.

Volkswagen, the world's fourth-largest carmaker, is considering building a new North American factory if the dollar stays weak, Chief Executive Martin Winterkorn said in an interview with German magazine Focus.

Blackstone's big payout for the hotel chain shows buyout firms are still confident about debt financing for the right properties.

If globalization were put on the balot in the U.S. it would lose, GE chief Jeffrey Immelt warns.

The private Internet club that began as a college hangout is becoming the hottest tech ticket.