IBT Staff Reporter

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Oil slips $2 towards $106 on Libya end-game

Brent crude fell almost $2 on Monday toward $106 a barrel with traders and investors anticipating the resumption of oil exports from OPEC-member Libya as a six-month civil war there appeared close to an end.

U.S. crude jumps more $1 as dollar slips

U.S. crude oil futures rose more than $1 a barrel on Monday as the dollar eased against a basket of currencies and as stock markets rose on hopes for a swift end to the conflict in Libya.

Chinese Leaders Warn of Euro Crisis Black Death

The Black Death of the debt crisis across the euro zone will hurt China's exports, although Beijing's relatively small holdings of euro assets will limit damage to foreign exchange reserves, the nation's top official newspaper said on Monday.

Soaring Australian dollar claims manufacturing victims

Australia's strong currency struck a heavy blow to the nation's manufacturing industry on Monday when BlueScope Steel , its largest steelmaker, unveiled plans to shut half of its steel-making capacity, cease exports and slash 1,000 jobs.

Japan signals readiness to intervene in currencies

Japan will take decisive action against any speculative moves in the currency market, Finance Minister Yoshihiko Noda said, signaling Tokyo's readiness to intervene to stem further yen rises after its spike to a record high last week.

Schaeuble says markets have confidence in euro

German Finance Minister Wolfgang Schaeuble said in a radio interview on Monday that the euro remains a stable currency and despite the euro zone debt crisis has held steady against the dollar in a consistent range.

Google's Acquisition of Motorola Aims for Patent Wars

Google’s purchase of Motorola Mobility for $12.5 billion is all about owning a slew of patents to defend itself against its rivals -- Microsoft and Apple -- in the legal arena where patent licensing fees can be negotiated through lawsuits and countersuits.

Two Shot, One Beaten at NFL Preseason Game in San Francisco

Two men were shot in the parking lot of San Francisco's Candlestick Park and a third was brutally assaulted inside the stadium after a preseason National Football League game between the San Francisco 49ers and the Oakland Raiders, police said on Sunday.

Brent drops more than $3, eyes on Libyan oil flow

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.

Stocks near 11-month low on recession fears

World stocks fell toward a recent 11-month low on Monday while the euro and oil prices slipped as concerns about a global economic downturn prompted investors to sell risky assets.

Nowotny worried about EFSF timeline delay: report

European Central Bank Governing Council member Ewald Nowotny is concerned that euro zone countries will not push through parliamentary approval of changes to their EFSF bailout fund as quickly as planned, an Austrian magazine quoted him as saying.

European Stocks Poised to Fall as Gold Hits $1,878

European stocks looked set to extend four weeks of losses Monday, tracking jittery Asian shares lower, while gold shot to new highs as investors worried about the sluggish U.S. economic outlook and Europe's festering debt crisis.

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