UNITED STATES

After helping steer General Motors and Chrysler out of bankruptcy, the head of President Obama's Auto Task force is stepping down, with an existing administrator taking over.

Aerospace companies are likely to post mixed quarterly results as weak airline traffic, pressure on aircraft orders and the latest delay of Boeing Co's 787 Dreamliner weigh on parts suppliers.

The average price of gasoline fell to $2.5573 a gallon. A consortium of 12 companies outlined a massive solar project in North Africa called Desertec which aims to provide 15 percent of the energy needed in Europe by 2050. Chinese Suntech Power Holdings Co. Ltd said today it reached agreements to develop four solar power facilities in China

U.S. stocks rallied more than 2 percent on Monday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks' quarterly results may be stronger than expected.

U.S. stocks rallied more than 2 percent on Monday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks' quarterly results may be stronger than expected.

Fans of HBO shows such as the 'Sopranos' and 'The Wire' can now watch them online if they are Comcast Corp subscribers, in the latest move by the cable TV industry to make TV programs available on the Web.

President Barack Obama nominated Dr. Regina Benjamin for the U.S. surgeon general - the top U.S. public health official,- in a ceremony in the White House Rose Garden on Monday.

As US dollar's role as international currency was questioned over the global financial crisis, China began its long-awaited initiative to trade with yuan as a step toward reducing China's reliance on the dollar.

Ricardo Lacerda, Citigroup's top investment banker for Brazil and Latin America, will leave his post within the next three months, a local newspaper reported on Monday.

Oil prices slipped on Monday, briefly touching their lowest level in almost two months on concerns over the state of the global economy.

Michael Jackson's father said the King of Pop was not ready perform 50 shows in London, in a TV interview that aired the day the singer was scheduled to start his long-awaited comeback.

Former Stanford International Bank Ltd Chief Financial Officer James Davis plans to enter a guilty plea to federal charges as early as next week, his lawyer said on Monday.

Former Stanford International Bank Ltd Chief Financial Officer James Davis was granted $500,000 bail on Monday and plans to plead guilty to charges related to an alleged $7 billion Ponzi scheme as early as next week, his lawyer said.

Mexico's central bank has established rules on paying for goods and services and making other financial transactions through bank accounts associated with mobile telephones.

An Alabama family doctor who twice resurrected her clinic in a rural Alabama fishing village after it was devastated by hurricanes will be nominated to be the new U.S. surgeon general, an administration official said on Monday.

Philips Electronics, Europe's biggest consumer electronics maker, said some of its key markets are primed for an upturn in sales, though any growth this year would likely be driven by government spending programs.

Ford Motor (F.N) launched a new $500 million passenger car plant in southeast Thailand on Monday, a move aimed at raising its share of a lucrative small car segment in Asia dominated by Japanese firms.

In the century since Henry Ford rolled out his first Model T -- the world's first mass-produced, affordable car -- in 1908, America has been the world's No. 1 auto market.

The U.S. government and the largest Swiss Bank, UBS, are in talks to settle a lawsuit whereby the U.S. government is seeking the names of American account holders suspected of offshore tax evasion. The court hearing for this case is scheduled For August 3.

A U.S. bankruptcy judge gave General Motors Corp permission on Monday to buy several assets of bankrupt auto parts supplier Delphi Corp as part of a deal with a private equity firm that could take Delphi out of bankruptcy.

Banks led U.S. stocks sharply higher in a volatile session on Monday, after positive comments on financials from normally bearish analyst Meredith Whitney sparked hopes for the sector ahead of earnings.