IBT Staff Reporter

Credit rating agencies Moody's and Standard & Poor's slashed their ratings on the debt of Chinese forestry company Sino-Forest on Monday, a day after Allen Chan, chairman and CEO of the Toronto-listed company, stepped down in the face of fraud accusations.

U.S. stocks jumped nearly 2 percent on Monday as a merger between two big banks in Greece suggested Europe was working through its financial problems and a rebound in consumer spending calmed fears about the U.S. economy.

U.S. consumer spending rose at its fastest pace in five months in July, backing views the economy was not falling back into recession, although pending sales of previously owned homes fell.

In one of the many memorable acts of the MTV Video Music Awards on Sunday, hip-hop's power couple — Beyoncé and Jay-Z — alluded to the fact that they would be adding one more to their family.

R&B singer Beyonce let pictures tell the story of a baby on the way for her and rapper husband Jay-Z at the MTV Video Music Awards on Sunday.

In the wake of Hurricane Irene, all but one of New Jersey Transit's commuter train lines remained suspended on Monday morning, as did all Metro-North Railroad service and half of the routes on the Long Island Rail Road.

Pending sales of existing U.S. homes fell in July from June in the latest sign of weakness in the housing industry, data from a real estate trade group showed on Monday.

After being handed their most severe mauling in a long time, Arsenal are readying themselves for a late charge in the transfer market.

Women, aged 18-29, are the most frequent users of social media sites like Facebook and Twitter according to a recent survey.

With Hurricane Irene damage less than expected in the New York area, Monday’s air travel is slowly returning to normal.

Another phone from the HTC camp which is headed Verizon's 4G LTE network way was spotted by Droid Life. The Web site got hold of snapshots of the 4G LTE enabled phone called HTC Vigor.

The U.S. stock market will open for a normal trading session on Monday, although with lower volume expected and some delays in opening hours, despite damage from Hurricane Irene.

Consumer spending rebounded strongly in July to post the largest increase in five months on strong demand for motor vehicles, a government report showed on Monday, supporting views the economy was not falling back into recession.

Stock index futures advanced on Monday, signaling a strong open on Wall Street, as European and Asian equities were boosted partly on a possible merger between two big banks in Greece.

He says one day people who doubt global warming will be looked at in the same light as racists.

Stock index futures jumped on Monday, signaling a strong open on Wall Street, as investors were relieved to see Hurricane Irene caused less damage than feared in New York City over the weekend.

Real Madrid surged into the top of the Spanish La Liga after thrashing Real Zaragoza in their first league game of the season, with Cristiano Ronaldo bagging a hat-trick.

Abdelbaset Ali al - Megrahi, who was convicted over the December 1988 bombing of Pan Am flight 103, is harking on death's door. The Libyan citizen jailed for 270 counts of murder for the bombing of Lockerbie is currently under the care of his family members at his Tripoli home in Libya.

The U.S. stock market will open for a normal trading session on Monday, although with lower volume expected and some delays in opening hours, despite damage from Hurricane Irene.

The troubles facing China's Sino-Forest mark a new chapter in the chequered career of Allen Chan, its Hong Kong-born founder who resigned as CEO over the weekend amid massive fraud allegations and a plunge in its share price.

Flat-screen maker LG Display will slash next year's capital spending by a quarter as booming sales of mobile devices from iPads to Android smartphones saps demand for TV panels, its main source of earnings.

Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 1 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 1 percent at 0930 GMT (5:30 a.m. ET).

Need some motivation to hit the gym? Perhaps some free merchandise will do the trick.

Stetson Kennedy, who managed to infiltrate the highly secretive Ku Klux Klan 60 years ago and expose its workings and secrets, died on Saturday. He was 94 and had been in hospice care at a hospital near St. Augustine, Fla.

Record gold prices, rather than denting China's enthusiasm for bullion, have emboldened investors to plough more money into gold bars and riskier bullion-based derivatives.

German group Porsche is planning to develop a sportscar that would compete directly with the more exclusive Ferrari brand, its chief executive said.

Samsung Electronics Co said on Monday it would delay the launch of its latest Galaxy tablet computer in Australia until after a court ruling in late September on its ongoing global patent dispute with Apple.

When Selena Gomez least expected it, her boyfriend, Justin Bieber planted a kiss on her cheek at MTV's Video Music Awards.

Flat-screen maker LG Display will slash next year's capital spending by a quarter as booming sales of mobile devices from iPads to Android smartphones saps demand for TV panels, its main source of earnings.