UNITED STATES

A cluster of U.S. regional reports on Monday showed business picking up steam in August, suggesting the national economy is finally breaking free of its deep recession.

U.S. stocks ended lower on Monday as a sharp drop in Chinese equities added to concerns about the global economy's recovery.

Bankrupt Lyondell Chemical Co has sued some of its bondholders to prevent them from trying to collect money when an agreement ends next month, arguing the consequences of letting them do so would be disastrous and threaten its European units.

LOS ANGELES - Former President George W. Bush's daughter, Jenna Bush Hager, is set to become a correspondent for the U.S. television news and talk show

Oil prices fell nearly 4 percent to below $70 a barrel on Monday as fear of a curb in Chinese bank lending dented optimism about the pace of economic recovery and a potential rebound in global energy demand.

U.S. tax authorities may be forgoing $1.4 billion of revenue annually because they fail to thoroughly compare mortgage interest statements submitted by banks against individual tax returns, according to a government report released on Monday.

Oil prices fell nearly $3 to below $70 a barrel on Monday as fear of a curb in Chinese bank lending dented optimism about the pace of economic recovery and a potential rebound in global energy demand.

The International Brotherhood of Teamsters union urged shareholders of FedEx Corp on Monday to back its effort to separate the positions of chairman and chief executive at the U.S. package delivery giant.

Disney's Marvel; One Stop Oil Shop; Apple's China Adventure

Stocks fell on Monday as concerns about the global economy's health weighed on Wall Street, following a hefty sell-off in Chinese equities.

Citigroup Inc said on Monday it sold three credit card portfolios representing $1.3 billion in managed assets, as part of a plan to unload weak businesses and troubled assets that caused huge losses.

Ford Motor Cowill report a U.S. auto sales increase in August and the industry may post its first monthly year-over-year sales rise since October 2007, the automaker's chief sales analyst said on Monday.

U.S. copper futures sank to a one-week low below $2.80 a lb on Monday, after a sharp plunge in Chinese equity markets raised doubts about the strength of global economic recovery.

Oil prices fell nearly $3 to below $70 a barrel on Monday as a big drop in China's key stock index dented optimism about the pace of economic recovery and a potential rebound in global energy demand.

Walt Disney Co agreed buy Marvel Entertainment Inc for $4 billion in a deal that would add characters such as Iron Man, Spider-Man and the Fantastic Four to its entertainment empire.

Allen Stanford, the Texas financier accused of a $7 billion fraud, is still hospitalized and will undergo tests to determine if there is blockage of veins or arteries in his heart, his lawyer's office, said on Monday.

U.S. Defense Secretary Robert Gates on Monday said he was encouraged by Lockheed Martin Corp's efforts to address issues with the F-35 fighter, and said company officials clearly understood the importance of keeping the program on cost and on schedule.

FORT WORTH - U.S. Defense Secretary Robert Gates on Monday cited consensus among lawmakers, the Pentagon and the White House on the need to reform the defense acquisition process, especially given the current economic situation.

Shares of Citigroup Inc fell as much as 7.5 percent on Monday amid a broad slide in financial stocks, after rallying over the last week.

Oil prices fell more than $3 toward $69 a barrel on Monday as a big drop in China's key stock index dented optimism about the pace of economic recovery and a potential recovery in global energy demand.

Apple announced last week that it would make its iPhone available in China late this year, the company confirmed on Monday that its three-year agreement with China Unicom is not exclusive to the carrier.