IBT Staff Reporter

Consumer spending was unchanged in May for the first time in almost a year, likely reflecting a plunge in auto sales, according to a government report on Monday, that also showed a build-up in underlying inflation pressures.

Consumer spending was flat in May, breaking a string of 10 straight months of gains, as households struggled with rising prices and automakers failed to deliver the models Americans wanted.

Stocks rebounded from three days of losses on Monday as investors bet there would be a near-term resolution to some of the uncertainty over Greece's fiscal crisis, but the absence of a firm plan could limit the market's upside.

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French banks, among the most exposed to the Greek debt crisis, have reached an outline agreement to roll over holdings of maturing Greek bonds, part of a wider European plan to avoid sovereign default.

Feeling a slew of emotions, Johnny Knoxville decided to blog on his website about he truly feels about losing his good friend Ryan Dunn.

Kate Middleton attended Wimbledon with her husband Prince William on Monday.

Investment fund GSV Capital Corp has taken a small stake in Facebook that values the world's No. 1 social networking site at about $70 billion.

Apple will finally make its products affordable for the middle class crowd by addressing the pre-paid mobile phone market, releasing contract-free iPhone for $350 along with iPhone 5 in September.

Inflation in emerging markets could reach double digits, while economic growth this year will average 6 percent, according to Franklin Templeton's veteran emerging markets investor Mark Mobius.

China is looking into accounting issues involving Chinese companies listed in North America, an official at the country's securities regulator said in the watchdog's first public remarks since a series of accounting scandals.

Investment fund GVS Capital Corp has taken a small stake in Facebook that values the world's No. 1 social networking site at about $70 billion.

The BET Awards took place Saturday night in Los Angeles.

The odds are stacked against the London Stock Exchange in its bid to take over the operator of Canada's biggest stock exchange, amid vocal endorsements for its made-in-Canada rival from investors, a billionaire activist and provincial politicians.

Despite the escalation of long-running tensions over settlements and a flotilla to deliver aid to Gaza, Israel has recently taken measures to woo Paris and other key votes at the UN.

Delta Air Lines Inc expects a solidly profitable second quarter as higher revenues have for the most part offset rising fuel costs.

Kuwait will put on trial two citizens for criticizing Gulf Arab ruling families on social media site Twitter, a security official said on Monday.

Germany and China will discuss the euro and world currency system reforms during a visit by Premier Wen Jiabao, a German government source said, as Berlin said it would welcome more Chinese firms as long-term investors.

Stock index futures pointed to a mostly flat open on Monday, following three days of losses as investors remained cautious about Greece's fiscal future.

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China released a comprehensive review of the massive debt of its local governments on Monday and curtailed their future borrowing, taking its first major step to prevent widespread defaults from destabilizing its vast economy.

An isolated indigenous group of Indians with absolutely no contact with the modern civilization hidden in the deep pocket of Amazon has been discovered by the Brazilian agency, FUNAI.

Ryan Cleary, the 19 year old student from Wickford, Essex who was arrested in connection with the hacking group Lulzsec is diagnosed with Asperger’s syndrome.

Stock index futures signaled a stronger start for equities on Wall Street on Monday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq up 0.1 to 0.2 percent by 0854 GMT.

International bankers met the head of the main euro zone body working on ways to handle the Greek debt crisis in Rome on Monday, a participant at the meeting said.

Stock index futures rose on Monday, putting Wall Street on track to rebound after three days of losses, although investors remained cautious about Greece's fiscal future.

French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government fought to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.

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