IBT Staff Reporter

Mizuho Financial Group's <8411.T> president will step down and its corporate banking chief will take the helm, Japan's second-largest bank said on Monday, as it grapples with persistent system troubles including a breakdown in ATMs after the devastating March earthquake.

Manufacturers in Europe and China tapped the brakes this month and price pressures eased as tighter policy measures to control inflation began to bite, purchasing managers' indexes showed on Monday.

Stocks were set for a lower open on Monday as worries about the euro-zone debt crisis increased after Standard & Poor's cut Italy's rating outlook and Spain's ruling Socialists suffered a setback in elections.

Sony Corp said it expected to post a $3.2 billion net loss for the year that ended on March 31 due to a write off on tax credits, the latest in a string of grim headlines for the consumer electronics giant.

The Gold Price in Euros shot to a new all-time high of €34,746 per kilogram (€1080 per ounce) - 1% above Friday's close. The Euro price to Buy Gold has risen 16% since this time last year.

Indian software services exporter Mahindra Satyam posted on Monday a net loss for its fiscal fourth quarter, hurt by a one-time expense due to settlement of a U.S. shareholder lawsuit, sending its shares down as much as 6 percent.

Stock index futures fell on Monday on worries about the euro-zone debt crisis after Standard & Poor's cut Italy's rating outlook and Spain's ruling Socialists suffered a setback in elections.

Watch the live performance by Britney Spears and Rihanna at the 2011 Billboard Music Awards.

World number one Rafael Nadal has been relaxing before his French Open campaign and despite the challenge posed by the irrepressible Novak Djokovic, he is the favorite to win his sixth French Open title.

A suicide bomb attack in a crowded Afghan bazaar in a remote town, 100 Kms away from Kabul, has killed four civilians and injured 14, on Monday.

A massive tornado struck Joplin, southwest Missouri. At a news conference early Monday morning, Joplin City Manager Mark Rohr announced that 89 people have died so far. An unaccounted number of people were injured. Patients filled hospitals that could admit them.

Italy will bring forward to next month plans for slicing 35 to 40 billion euros off its budget deficit, government sources said on Monday, moving to reassure markets after a rating agency cut its outlook on the country.

Japan's Mizuho Financial Group <8411.T> said on Monday its president, Takashi Tsukamoto, would step down and be replaced by the head of its corporate banking unit, Yasuhiro Sato.

With Carlo Ancelotti becoming the latest manager to feel the wrath of Roman Abramovich, it leaves the trigger-happy Chelsea owner with limited options to find a suitable successor who fits the bill.

Justin Bieber, the Canadian teen idol, dominated 6 awards at the Billboard Music Awards on Sunday, May 22.

U.S. stock index futures fell on Monday on worries about the euro-zone debt crisis after Standard & Poor's cut Italy's rating outlook and Spain's ruling Socialists suffered a setback in elections.

The European Central Bank must guard against steep oil price gains filtering through to broader inflation, an ECB policymaker said on Monday, adding that rising long-term inflation expectations must be taken seriously.

EU backs Obama's call for Mideast peace treaty based on 1967 borders

Iran's military has received a new ballistic missile system on Sunday, which demonstrates the country's self-sufficiency in producing weapons.

Greek Prime Minister George Papandreou discussed new emergency measures with his cabinet on Monday to cut the deficit, keen to convince lenders Athens can deal with a debt crisis without a restructuring.

Doomsday prophet Harold Camping's failed rapture theory was a product of numerical manipulation which is based on the assumption that Biblical numbers contain encoded spiritual truths.

China's largest listed car distributor Pangda Automobile Trade Co Ltd <601258.SS> has started initial procedural talks to gain Chinese regulatory approval to invest in Swedish car maker Saab.

Sony Corp said on Monday it would post a $3.2 billion net loss for the year that ended on March 31, the latest setback for the Japanese consumer electronics giant.

It must be good karma - being born a celebrity kid - born with the proverbial silver spoon in the mouth. Custom-made designer clothes, huge mansions, vacations around the world, travel by private jets, round-the-clock nannies to fulfill every need - these are just some of the perks of being a star kid.

LONDON (Reuters Life!) - The much-mocked hat worn by Princess Beatrice to Britain's royal wedding last month -- widely described as looking like a toilet seat -- sold for 81,100 pounds ($131,000) on eBay, charities which will benefit from the sale said.

Sony on Monday changed its earnings estimate for the year to March 2011 to a net loss of 260 billion yen ($3.2 billion) from a profit of 70 billion, in the company's first indication of the financial impact of the devastating March earthquake and tsunami.

The United Nations and the European Union in Lebanon on Monday appealed for an immediate release of seven Estonian cyclists who were kidnapped in east Lebanon last March.

Sony Corp said on Monday it would post a $3.2 billion net loss for the year that ended on March 31, the latest setback for the Japanese consumer electronics giant.

Some of the hottest models and actresses graced the 64th Cannes Film Festival which took place from May 11 to May 22.