IBT Staff Reporter

Former White House aide Larry Summers on Sunday urged expanded tax cuts on U.S. workers' wages, warning that America's economy was at risk of years of Japan-style stagnation without a further boost.

Governments, multinational corporations and global institutions are losing the battle against computer hackers and must combine their resources if they are to lock out cyber intruders, experts say.

The banks and pension funds with a C$3.7 billion hostile offer for the Toronto Stock Exchange touted their offer directly to shareholders on Monday, denying that it would curb competition and urging shareholders to vote for the made-in-Canada solution.

The International Monetary Fund’s (IMF) computer system was hacked with large and sophisticated cyberattack and confidential data on national economies and finances are at the risk of exposure. The organization did not disclose the nature of the attack.

China faces a meaningful probability of a hard economic landing and the euro zone is storing up problems for the future by not tackling the debt crisis head on, said Nouriel Roubini, the economist who predicted the global financial crisis.

Stock index futures edged higher on Monday after six weeks of declines for the S&P 500 left equities at more attractive levels.

Funeral held for the two killed in the Montreal Police shootings

World stocks touched a 12-week low on Monday as Chinese data highlighted concerns about weaker global growth, prompting investors to unwind positions in higher-risk assets and buy top-rated government bonds.

Stock index futures edged higher on Monday after six weeks of declines for the S&P 500 left equities at more attractive levels.

China faces a meaningful probability of a hard economic landing and the euro zone is storing up problems for the future by not tackling the debt crisis head on, said Nouriel Roubini, the economist who predicted the global financial crisis.

Apple will start selling unlocked iPhones in U.S. from Wednesday, if the ChronicWire leaks are correct.

China's money growth slowed to a 30-month low in May and banks extended fewer new loans than expected as monetary policy weighed on bank lending, but stubborn inflation is expected to persuade the government to keep its foot on the credit brakes.

For New York Rep. Anthony Weiner, it's him before anything else.

In-demand Internazionale midfielder Wesley Sneijder has gone back on his statement of being happy at Inter, and has hinted at a possible move away from the Italian giants.

There is no stopping Dirk Nowitzki after he finally scaled the peak of NBA championship. Not surprisingly, he has been named the MVP of the NBA finals for his charismatic efforts that gifted Dallas Mavericks their first ever championship. Of the 21 points he scored in the final against Heat, most of them came at crucial times.

Odyssey Space Research announced that it will ship two iPhone 4s to the U.S. National Laboratory on the International Space Station (ISS).

Samsung Electronics Co Ltd will become the world's largest smartphone maker this quarter, overtaking struggling Nokia Oyj which has lead the market since 1996, Nomura said on Monday.

Social networking site Facebook tried to discredit search giant Google by hiring a public relation firm to spread anti-Google stories across media and encouraging outlets to examine allegations of Google’s privacy practices, said a report.

Lady Gaga, the pop queen who performed in Rome after a huge gay rights march, has urged the governments to defend gay rights.

Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.3 percent and Nasdaq 100 futures up 0.2 percent at 0804 GMT (4:04 a.m. ET).

Logitech expects a boost in its business from Microsoft's $8.5 billion acquisition of Skype as the deal should lift wider take-up of videocommunications, a senior executive told Reuters.

Samsung Electronics Co Ltd will become the world's largest smartphone maker this quarter, overtaking struggling Nokia Oyj which has lead the market since 1996, Nomura said on Monday.

HSBC Holdings will run down its $33 billion U.S. credit card business if it cannot find a buyer, the bank's chief executive said on Monday, part of efforts to slash costs and cut back on retail banking.

China's avid Internet users are taking a leaf from India's anti-corruption drama by opening websites so citizens can confess, sometimes in pitiless detail, to buying off officials.

Regions Financial Corp's board is investigating if executives delayed public disclosure of loans that were going bad during the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

German luxury carmaker BMW Group will invest 500 million pounds in its UK production network over the next 3 years.

Ford Motors has been ordered by Ohio Court to pay $2 billion to more than 3,000 US truck dealers for overcharging them.

As the Miami Heat were losing to the Dallas Mavericks in the final minutes of Game 6 in the NBA Finals, players including Heat stars Lebron James and Dwyane Wade appeared to just give up.

Goldman Sachs is to launch a commodities index with Clive Capital, the world's largest commodity hedge fund, the Financial Times reported on Monday citing a source familiar with the product.