MARKETS / FINANCE

Mail-order food company Harry & David Holdings Inc filed for bankruptcy in a Delaware court under a pre-arranged deal with creditors that includes swapping $198 million of senior notes into equity.

Google is joining Citigroup and Mastercard to set up a mobile payment system that will turn Android phones into a kind of electronic wallet, the Wall Street Journal said, citing people familiar with the matter.

EBay Inc plans to buy e-commerce company GSI Commerce for $1.96 billion in cash in a bid to draw more buyers and sellers to its online marketplaces.

U.S. stocks edged higher on Monday as an upgrade of telecom shares and a rise in February consumer spending lifted sentiment, though overseas concerns could add to volatile trading.

U.S. consumer spending rose slightly more than expected in February for the eighth straight month of gains as households tapped their savings, government data showed on Monday, while inflation accelerated at its fastest pace since June 2009.

Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales.

Oil retreated on Monday, with both U.S. and Brent crude futures slipping over a dollar, after Libyan rebels regained control of key oil towns and the dollar firmed on hawkish comments from a U.S. central banker.

Consumer goods giants Procter & Gamble and Unilever will both raise detergent and soap prices in China by up to 15 percent next month, local media reported, underscoring the battle the government faces with inflation.

U.S. stock index futures rose on Monday, building on three sessions of gains, though developments in Japan and Libya remained in view, suggesting further volatility ahead.

U.S. stock index futures were little changed on Monday as foreign headwinds remained in view following three days of U.S. equities gains, suggesting the recent period of volatility wasn't over.

Portugal has become the first country to meet Europe Union fuel-efficiency goals for cars, and Japan's Toyota is the brand that is closest to meeting the same target across Europe, a report showed on Monday.

Oil retreated on Monday with Brent slipping to around $115 after Libyan rebels regained control of key oil towns, and unrest over the weekend was limited to minor crude exporters Syria and Yemen.

Glencore , the global commodities trading giant, is set to appear before the listing committee of the Hong Kong stock exchange this week, the strongest sign yet it will go ahead with a roughly $10 billion IPO, two sources with direct knowledge of the plans told Reuters on Monday.

Oil retreated on Monday with Brent slipping below $115 after Libyan rebels regained control of key oil towns, and unrest over the weekend was limited to minor crude exporters Syria and Yemen.

The euro weakened on Monday after German Chancellor Angela Merkel's conservatives were routed in elections in a key state, while world shares eased back from their recent rally.

The chief executive of Caterpillar Inc has warned the governor of Illinois that state spending and an unfavorable business climate could undermine the competitiveness of Illinois-based companies.

The Nikkei average fell on Monday after weekend reports of soaring radiation levels at a damaged nuclear plant, adding to investors' worries over disrupted supply chains and power cuts already biting into corporate earnings after Japan's earthquake and tsunami.

The euro slipped on Monday after German Chancellor Angela Merkel's conservatives were routed in elections in a key state, while Asian shares fell as turmoil in the Middle East and Japan's nuclear crisis left investors with little appetite for riskier assets.

Facebook, the social networking giant, is seeking to hire former White House press secretary Robert Gibbs for a senior post, The New York Times reported.

Brazil on Sunday defended its unorthodox strategies to cool its economy as the International Monetary Fund cautioned Latin America not to forget its basic tool for fighting inflation: the cost of money.

The Federal Reserve should consider trimming its $600 billion bond purchase program given pretty good U.S. economic data, Federal Reserve Bank of St. Louis President James Bullard said on Saturday.

The U.S. labor market is finally improving, just when many of the other economic indicators are wavering.

The Japanese earthquake is seen costing AXA , Europe's second-biggest insurer, at least 100 million euros ($140.8 million) before tax, Chief Executive Henri de Castries told French television on Sunday.

Brazil's central bank defended efforts to erect barriers to foreign money, arguing a deluge of capital was pressuring inflation and threatening the stability of financial markets.

Elizabeth Warren, the Obama administration's defender of financial consumers, will venture into the corporate lion's den this week, along with Jamie Dimon, CEO of banking giant JPMorgan Chase & Co.

Ireland's government wants to impose losses on some senior bondholders in Irish lenders to reduce the burden on taxpayers from a prolonged banking crisis, a senior minister said on Sunday.

U.S. stock investors could scramble to pick up some of the market's recent best performers this week as the quarter comes to an end, putting the spotlight on energy and industrial companies.

It would make sense for Portugal to seek aid from the European Union bailout fund, although such a decision will be caught up in domestic politics, European Central Bank Governing Board member Ewald Nowotny said.

Construction projects related to Brazil's World Cup, already well behind schedule, have run into another unexpected problem -- financing.