IBT Staff Reporter

Satellite firm Inmarsat said its partner LightSquared, a venture struggling to build a U.S. mobile broadband service with Inmarsat's spectrum, had failed to pay a $56.25 million instalment to the British company.

Dow Chemical Co hoped an Olympic sponsorship would boost its global cache, but the company's link to a gas leak tragedy 28 years ago threatens to curb some of the benefits from the $100 million advertising deal.

Media conglomerate Vivendi, the Paris-based parent of Universal Music Group, officially sought approval from the European Union to purchase London-based EMI Group's recorded-music business, the European Commission announced Monday on its website.

British chipmaker CSR Plc underscored its financial strength on Monday with a share buyback of up to $50 million, helping send its shares up more than 20 percent to their highest in six months.

The European Central Bank will lend nearly half a trillion euros to banks at rock-bottom rates next week through its three-year refinancing operation, despite signs institutions already have adequate liquidity, Reuters polls showed on Monday.

Vladimir Putin will be elected president in the first round of March's election with more than half the vote, avoiding a runoff that would dent his authority on the eve of his planned return to the Kremlin's top job, a state pollster predicted Monday.

Bank of China International is on track to become the first Chinese member of the London Metals Exchange - giving the bourse a boost while it is considering possible takeover bids - following authorization by the UK financial regulator.

Four Seasons Health Care is not trying to sell itself, as media reports suggested, but is in talks to renegotiate debt and raise new equity, a spokeswoman for Britain's biggest care home operator told Reuters.

A second injection of cheap funds from the European Central Bank may give the euro a temporary boost but is likely to trigger a longer-term decline in the common currency.

A senior U.S. regulator was optimistic on Monday about finding a framework for the world's top economy to use global book keeping rules for investors to compare cross-border companies.

Any surprise at the timing of China's move this weekend to spur bank lending may be misplaced. Instead, investors should recognize that China is determined to engineer a soft landing for the world's second-biggest economy.

Travelers in Europe face further delays and flight cancellations this week as ground staff at Frankfurt airport plan to extend their strike until early on Tuesday, with neither side in the dispute showing any sign of giving ground.

French media group Vivendi's Universal Music is seeking EU regulatory approval to buy British record label EMI's recorded music unit for $1.9 billion to boost its worldwide market share, the European Commission said on its website on Monday.

Iranians faced a second and more extensive disruption of Internet access Monday, just a week after email and social networking sites were blocked, raising concerns about state censorship ahead of parliamentary elections.

Euro zone finance ministers are expected to approve a second bailout for Greece on Monday to try to draw a line under months of uncertainty that has shaken the currency bloc, although work remains to be done to make the numbers add up.

Chinese e-commerce firm Alibaba Group is set to sign on Monday a $3 billion loan it plans to use to take private its Hong Kong-listed unit, Alibaba.com, Thomson Reuters publication Basis Point reported.

It is getting busy in Cristino Naguiat's spacious 5th-floor office overlooking Manila Bay.

Chinese authorities keep a tight grip on the country's commodity exchanges as part of efforts to deter speculators from driving up food and resource prices.

China's ruling Communist Party leadership will implement prudent monetary policy and proactive fiscal policy in 2012, the official Xinhua news agency reported on Monday, reiterating the basic policy tone Beijing set at the end of last year.

Wal-Mart Stores Inc said on Monday it is taking a controlling stake in Chinese e-commerce firm Yihaodian, as the world's largest retailer seeks new revenue sources to fend off rising competition in the world's fastest-growing major economy.

Apple Inc's legal row over its iPad trademark in China creates a window of opportunity for rivals such as Lenovo Group Ltd and Samsung Electronics Co Ltd as they try to chip away at the U.S. firm's dominance of the potentially vast Chinese tablet market.

Euro zone officials are discussing an escrow account for Greek bailout funds as part of a package they will address on Monday, Austrian Finance Minister Maria Fekter said.

Like drunks at a bar door, the euro zone's governments and banks are leaning unsteadily on each other for support.

Japan logged a record trade deficit with China in January as exports dropped by a fifth, underscoring concerns about how sharply China is slowing and its ability to buffer a frail global economy against European turmoil.

South Korea's Samsung Electronics Co, the world's biggest maker of televisions, is shifting its focus towards new generation OLED display technology, and said it will spin off its loss-making LCD flat-screen business into an affiliate.

Wal-Mart Stores Inc said on Monday it has reached an agreement to raise its stake in a Chinese e-commerce firm, Yihaodian, to around 51 percent as the world's largest retailer aims to boost its presence in China's fast growing consumer market.

Japan's largest IT services vendor Fujitsu plans to launch a wide range of smartphone and tablet devices for the first time in Europe, the Financial Times reported on Monday.

British bank Lloyds is to strip five current and former senior bankers of more than 1 million pounds in bonuses over their role in the mis-selling of payment protection insurance , the Daily Telegraph reported on Monday.

Japan logged a record trade deficit in January, government data showed on Monday, the clearest evidence to date of pain from a firm yen, a global slowdown and rising fuel imports needed to offset declining use of nuclear power.