IBT Staff Reporter

Despite rising oil prices, global petroleum use is expected to be stronger over the next two decades than previously estimated, the U.S. government said on Monday.

As the U.S. economy slouches toward another recession and confidence in policymakers erodes, investors are coming to grips with the notion that the country may already be several years into a Japan-style lost decade.

U.S. stocks fell sharply on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn toward the safety of U.S. government debt.

The rogue trade disaster at UBS will put pressure on the Swiss bank to accelerate plans to install a successor to Chief Executive Oswald Gruebel with a mission to dramatically slash the investment bank and renew the focus on wealth management.

As the U.S. economy slouches toward another recession and confidence in policymakers erodes, investors are coming to grips with the notion that the country may already be several years into a Japan-style lost decade.

More and more people around the world are diagnosed with infectious diseases such as heart and lung disease, cancer and diabetes each year, yet there may be cheaper solutions to prevent and treat millions of these cases, according to the World Health Organization (WHO).

U.S. stocks fell sharply on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to toward the safety of U.S. government debt.

Contract negotiations continue between grocery chain Albertsons, Ralphs and Vons and its workers, who on Thursday issued a 72-hour notice to cancel a contract extension after the deadline passed on Sunday evening.

UBS has kicked off an internal investigation into the catastrophic failure of its risk systems after rogue equity trades cost the Swiss bank $2.3 billion, raising the pressure on top management.

Homebuilder sentiment dipped in September with an industry index mired in a low range as the housing market continues to struggle, the National Association of Home Builders said on Monday.

Toward fulfilling the mission to observe the most distant objects in the universe, NASA's James Webb Space Telescope was newly dressed with giant mirrors coated with gold - a spectacularly new technology fit for its grand mission.

Wall Street stock indexes were set to drop more than 1 percent at the open on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to safer assets such as gold.

Global airlines will buy $3.5 trillion of aircraft over the next 20 years to meet relentless demand for travel to and from Asia's burgeoning megacities and renew aging fleets in the West, Airbus said on Monday.

Apple seems to have woken up to the need to tighten its security after it lost an iPhone prototype for the second time — this time it's about the upcoming iPhone 5.

Venture capital-backed telecom gear startup SpiderCloud Wireless aims to tap into the emerging market of small wireless networks which can be used inside offices, shopping centers and stadiums.

Barcelona stormed past Osasuna with an 8-0 mauling, a victory made sweeter as Real Madrid succumbed to a 1-0 loss at Levante, although neither of the two teams are in the top two of the La Liga.

U.S. stock index futures fell sharply on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to safer assets such as gold.

U.S. stock index futures fell sharply on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to safer assets such as gold.

At the 63rd Primetime Emmy Awards, the Academy of Television Arts & Science awarded celebrities for programs and achievements at the Nokia Theatre in Los Angeles on Sunday, making it a memorable evening.

Women on the hunt for a killer pair of heels or new handbag have endless options when shopping online.

Japan's biggest defense contractor, Mitsubishi Heavy Industries Ltd, said on Monday hackers had gained access to its computers, with one newspaper saying its submarine, missile and nuclear power plant component factories had been the target.

Stock index futures pointed to a sharply lower open on Wall Street on Monday, as renewed fears of a Greek debt default prompt investors to book some of last week's gains and turn to safer assets such as gold.

Lloyds Banking Group's finance director, Tim Tookey, is to quit the partly state-owned British bank to join insurer Friends Life, continuing a series of high-profile management departures since the arrival of new chief executive Antonio Horta-Osorio at the beginning of the year.

Diamond producer De Beers expects global demand growth for rough diamonds to set a new record this year on the exceptionally strong performance of its key U.S. market and robust demand in China and India, the head of the company's distribution arm said.

The most anticipated and rumored smartphone, Apple’s iPhone 5 is heading toward its release, while a couple of Android rival smartphones— Motorola Droid Bionic and Samsung Galaxy S2 have already come to the U.S., and Google Nexus 4G along with HTC Holiday are coming up next.

Greece must implement reforms agreed under an EU/IMF bailout plan and improve tax collection to qualify for further rescue payments, the IMF said on Monday.

Swiss bank UBS has kicked off an internal investigation into the catastrophic failure of its risk systems after raising the amount it lost on rogue equity trades to $2.3 billion.

Libya's interim leaders failed to agree a new cabinet on Sunday and the forces that forced Muammar Gaddafi from power remained bogged down in fighting with troops loyal to the former ruler.

Manchester City succumbed to a 2-2 draw at Craven Cottage despite having a two-goal advantage over Fulham.