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Halliburton profits slide, weakness to persist

Oilfield service company Halliburton Co posted a drop in quarterly profit on Monday, hit by declining spending by energy producers, and warned that the outlook for the coming quarters looked weak.

Obama cool meets Chavez mania at Americas summit

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If President Barack Obama needed a reminder that times have changed in the Americas, his fellow presidents gave him one when Air Force One touched down in Trinidad and Tobago for a regional summit.
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GM to cut 1,600 U.S. salaried positions this week

General Motors Corp is cutting about 1,600 salaried jobs in the United States this week as it rushes to meet a June 1 deadline to restructure under U.S. government oversight, the automaker said on Monday.
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Fidel Castro say U.S. embargo against Cuba must go

Former Cuban leader Fidel Castro said on Sunday the U.S. trade embargo against Cuba must go, but he was mum on his brother Raul Castro's recent offer to talk with Washington about everything, including political prisoners and human rights.
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Obama to take aim at credit card abuses

President Barack Obama plans to crack down on deceptive credit-card industry practices that have saddled U.S. consumers with huge debts and soaring interest rates, U.S. officials said on Sunday.
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Stakes high as U.S. Congress returns

Barack Obama's presidency has been a wild ride for the U.S. Congress and lawmakers are bracing for more turbulence when they begin returning on Monday to tackle an array of tough issues from healthcare to energy.
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China brings hope, threat to global automakers

Top auto executives projected sales growth of up to 10 percent this year in China, but this lone bright spot among the world's major car markets is also producing ambitious potential rivals to the global auto majors.
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Wall Street set to fall on earnings caution, bank jitters

Wall Street was set to fall at the open on Monday on worries that problems persist for the struggling banking sector and after Bank of America's results relied heavily on one-time items as credit quality deteriorated markedly.
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Stock futures down on earnings caution, bank jitters

Stock index futures pointed to a lower open on Monday with investors cautious ahead of the latest round of earnings and after Bank of America's results relied heavily on one-time items, while credit quality deteriorated markedly.
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Japan banks bid for Citi's Nikko Cordial

Mitsubishi UFJ Financial Group , Mizuho Financial Group and Sumitomo Mitsui Financial Group have submitted bids to buy the Japanese retail brokerage unit of Citigroup Inc in a deal that could raise about 600 billion yen ($6 billion), five people with direct knowledge of the sale said.
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PepsiCo offers $6 billion for bottlers

Soft-drink maker PepsiCo offered about $6 billion on Monday to buy the shares it does not already own in its two largest bottlers, Pepsi Bottling Group and PepsiAmericas, to cut costs and secure control of its brands as growth switches to new non-carbonated drinks.
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Fiat CEO goes to U.S. for Chrysler talks

Fiat's chief executive has returned to the United States for talks as pressure builds to seal a partnership deal with Chrysler before the end of the month, sources at the Italian car maker said on Monday.
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Asia stocks edge up, but Aussie and oil retreat

Asian stocks edged up on Monday, holding near a six-month peak and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week.
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South Korea's prophet of doom blogger acquitted

A South Korean court acquitted a blogger on Monday of spreading false information, in a case that triggered debate about freedom of speech in cyberspace and critics said was only launched because his economic doom postings angered authorities.
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U.S. to put conditions on TARP repayment: report

Strong banks will be allowed to repay federal bailout funds, but only if such a move passes a test to determine whether it is in the national economic interest, the Financial Times reported on Sunday, citing a senior U.S. administration official.
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GlaxoSmithKline in talks to buy Stiefel

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.
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GlaxoSmithKline in talks to buy Stiefel: source

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.
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U.S. may convert bank bailout to equity share: report

Obama administration officials have determined they can avoid asking Congress for more bank bailout funds by converting existing loans to the largest U.S. banks into common stock, The New York Times reported on Sunday.

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