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World stocks, oil tumble as flu fears spread

World stocks tumbled on Monday, after seven weeks of gains, and oil and the euro fell as concerns intensified the spread of swine flu, which has killed more than 100 people in Mexico, would hit the global economy.

AIG's ILFC unit gets bids less than $5 billion

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American International Group Inc has received second-round bids from three groups for its aircraft leasing business, valuing the unit at under $5 billion, a source familiar with the matter said on Monday.

Asia stocks, commodities hit by swine flu

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Asian stocks fell about 2 percent on Monday as the outbreak of swine flu in North America hurt shares of airlines while prompting some market players to trim risky positions, hitting currencies such as the Australian dollar.
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Thain says BofA Merrill statements not true: report

Bank of America Corp made inaccurate statements about its role in the bonuses and losses at Merrill Lynch & Co, former Merrill Lynch & Co Chief Executive John Thain told the Wall Street Journal in an interview.
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Oil falls over 2 percent on flu fears

Oil prices fell over 2 percent toward $50 a barrel on Monday, paring some of the previous session's near 4 percent gain, on fears of a global flu pandemic after an outbreak of swine flu in Mexico.
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Oil falls over 2 percent on swine flu fears

Oil prices fell over 2 percent toward $50 a barrel on Monday, paring some of the previous session's near 4 percent gain, on fears of a global flu pandemic after an outbreak of swine flu in Mexico.
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UAW in accord with Chrysler, Fiat, U.S. government

The United Auto Workers said on Sunday the union had reached agreement with Chrysler LLC, Italian automaker Fiat SpA and the U.S. government on concessions to its 2007 contract and healthcare trust.
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U.S. official cites progress in Chrysler talks

There has been some progress in U.S. government-driven negotiations to save Chrysler LLC, according to a senior White House official, who on Sunday also did not rule out an attempt to complete the company's restructuring in bankruptcy.
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Stocks face banks, Fed, earnings

U.S. stocks may run into some turbulence this week as the impending release of bank stress test results, a Federal Reserve meeting and a flood of earnings will give investors some reasons for caution.
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Chrysler creditors urged to make concessions

With just days to go for Chrysler LLC to reach agreements to cut labor and debt costs or face bankruptcy, members of Michigan's Democratic congressional delegation said on Saturday the onus was now on the U.S. automaker's creditors to make concessions.
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Swiss ask U.S. to drop UBS tax evasion case

Switzerland, under pressure to join a global crackdown on tax fraud, asked the United States Saturday to drop a legal case involving UBS bank in return for a new tax accord the two countries are about to negotiate.
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UAW in weekend negotiations with Chrysler

The United Auto Workers union is holding weekend negotiations with Chrysler LLC as the struggling U.S. automaker races toward a month-end deadline to clinch concessionary deals with its union and creditors.
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Swiss ask U.S. to drop UBS case for new tax accord

Swiss President Hans-Rudolf Merz asked U.S. Treasury Secretary Timothy Geithner on Saturday to drop a legal case involving clients of UBS bank in return for a new tax accord the two countries are about to negotiate.
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Obama backs measure to restore fiscal discipline

President Barack Obama unveiled new steps on Saturday to restore U.S. fiscal discipline, including support for legislation that would require Congress to pay for any new programs by raising taxes or cutting other expenditures.
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Top defense lawyer fears misguided prosecutions

U.S. authorities, as well as defense attorneys, need to ramp up their understanding of complex financial instruments as populist anger puts pressure on the government to bring more business fraud cases, a top U.S. defense lawyer said on Friday.
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Chrysler, CAW in tentative deal, GM draws $2 billion

Chrysler won a round of concessions from its Canadian union on Friday while General Motors Corp soaked up $2 billion more in U.S. government aid and Ford Motor Co posted a narrower-than-expected loss that sent its shares soaring.
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G7 signals worst of world recession may be over

Finance chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.
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North Korea to boycott nuclear talks

North Korea will stay away from international nuclear disarmament talks, Russia's foreign minister said on Friday after visiting the secretive state and pressing Pyongyang to return to the sputtering discussions.
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Regulators close Michigan Heritage Bank: FDIC

Bank regulators in Michigan closed Michigan Heritage Bank on Friday, the 27th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.

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