UNITED STATES

General Motors Corp filed for bankruptcy on Monday, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership.

Ally Bank, the banking unit of auto and mortgage lender GMAC, on Monday denied competitors' complaints that it is paying excessive interest rates to attract deposits while on a government-funded lifeline.

Stocks rallied on Monday as reassuring economic data spurred optimism the recession is abating, overshadowing a long-expected bankruptcy filing by General Motors.

General Motors Corp's bankruptcy will forever be tied to one dealership in an often-ignored neighborhood due to the quirks of U.S. bankruptcy law.

The closely watched Dow Jones industrial average reshuffled the deck on Monday, removing both General Motors Corp and Citigroup Inc in a widely anticipated move.

Oil jumped more than 2 percent Monday, touching a near seven-month high as improving global factory activity bolstered expectations of an economic recovery.

Strong warnings by the U.S. Food and Drug Administration about suicide risks linked to antidepressant use in children and young adults have had a

Stocks rose sharply on Monday as strong economic data bolstered optimism the worst of the global recession was past, even as General Motors filed for bankruptcy and was removed from the Dow industrial index.

General Motors Corp., which filed for for court protection under U.S. bankruptcy laws today, said it expects to spend up to three months in bankruptcy before re-emerging as a smaller, leaner company.

U.S. Treasury Secretary Timothy Geithner on Monday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong U.S. currency.

U.S. Treasury secretary, Timothy Geithner, has been questioned by the Center for Democracy in the Americas (CDA) asking the Department to launch inquiry into actions by Microsoft, and possibly other Instant Messaging (IM) providers after access to IM was cut off to Cubans and other persons living in countries under U.S. sanctions.

U.S. stocks were poised for a sharply higher open on Monday as stronger economic data from China fueled optimism that the worst of the global recession was past, even as General Motors filed for bankruptcy.

The U.S. manufacturing sector contracted at a slower rate in May, while consumer spending fell modestly in April, according to reports on Monday that were further evidence the deep recession was easing.

Freddie Mac this week is offering to buy back from investors up to $30 billion principal amount of its debt to reduce its effective short-term debt, the second-largest U.S. home funding provider said on Monday.

Private equity firm Kohlberg Kravis Roberts & Co KKR.UL posted a substantial loss in 2008 as the global economic downturn took its toll on the firm's investments.

French bank BNP Paribas raised its average U.S. crude oil price forecast for 2010 on Monday to $75 a barrel from $63.

Oil rose more than 2 percent to a seven-month high on Monday, extending its biggest monthly gain in a decade due to rallying stock markets and sustained expectations for a global economic recovery.

U.S. stock index futures rose more than 1 percent on Monday as stronger Chinese economic data lifted investor optimism that the worst of the global recession was past.

U.S. stock index futures rose more than 1 percent on Monday as stronger Chinese economic data lifted investor optimism that the worst of the global recession was past.

Prudential Financial Inc, the No. 2 U.S. life insurer, said it plans to sell $1.25 billion of common stock after turning down U.S. aid.

Israeli settlers are waging court battles to evict dozens of Palestinians from homes in an East Jerusalem neighborhood, a move threatening to widen Israel's rift with U.S. President Barack Obama over settlements.