IBT Staff Reporter

President Barack Obama proposed a budget on Monday that would cut the U.S. deficit by $1.1 trillion over 10 years, setting the stage for a bitter fight with Republicans who vow even tougher spending controls.

U.S. stocks fell on Monday after posting two straight weeks of gains that drove indexes to new multi-year, although a recent pattern of buying on market declines was likely to continue.

Asia runs the risk of being left behind in the sudden wave of transatlantic stock exchange consolidation, given the tough regulatory regimes, cumbersome ownership structures and protectionist minded governments.

President Barack Obama will push his priorities for the 2012 federal fiscal year budget on Monday. Some of the cuts include programs for low income people and education in a budget that will cut the federal deficit by $1.1 trillion over the next 10 years.

JPMorgan is planning on starting a fund of between $500 million and $750 million to invest in Internet and digital media companies, the Wall Street Journal said on Sunday.

Nokia's smartphone alliance with Microsoft threatens more than 5,000 Finnish research and development jobs at the Finnish company and its subcontractors, a union boss said.

Apple is ready to plug any loopholes in its supply chain to avert shortages, as it has placed a $7.8 billion order for key components used in handheld devices from Samsung Electronics Co. for this year.

Detroit tops the list of fastest growing metropolitan areas for technology jobs, according to a report by Dice.com - a career Web site for technology and engineering professionals and companies in the US.

U.S. stocks were set to dip on Monday after posting two straight weeks of gains that drove indexes to new multi-year highs and some investors worried the market was overextended.

A research study conducted by the University of Southern California has revealed that the emotional stress one suffers when their team loses could lead to cardiac death.

Android gaming is moving up to the next level, with smaller publishers such as Glu Mobile and Zoo Entertainment threatening to zap larger players including Electronic Arts .

Chip-maker Qualcomm Inc. (NASDAQ:QCOM) is debuting a new version of its Snapdragon mobile processor offering speeds of up to 2.5 gigahertz and twelve times faster than its predecessors.

Japan's economy shrank slightly in the final quarter of 2010 but analysts expect a recovery this year as stronger exports to China and other parts of fast-growing Asia offset persistently weak domestic demand.

China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.

Ten-man Real Madrid produced an impressive performance at Espanyol to win 1-0 on Sunday, cutting their points gap with Barcelona to five points.

No 'safe' level of consumption of energy drinks has been established for children, adolescents and young adults, says the report from the medical journal.

Wall Street was set for a mixed open on Monday, with investors seen pausing for breath after indexes posted a second straight week of gains on Friday, with Chinese trade data and inflation talk seen supporting the market.

Nexans, the world's biggest cable maker, expects its sales to rise and operating margin improve this year, the company said on Monday, as it sees a pick-up in trading and manages to pass on higher metal prices.

General Electric Co is to buy a unit of British energy services firm John Wood Group for about $2.8 billion, the latest move by the largest U.S. conglomerate to boost its presence in oil services.

China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.

Nexans, the world's biggest cable maker, on Monday said it expects to see growth in sales and operating margin this year following an upturn in the second half of 2010 and despite rising commodity costs.

Chip-maker Qualcomm Inc. (NASDAQ:QCOM) said future Android devices powered by its latest Snapdragon mobile processors will have access to instant streaming of movies and TV shows from Netflix (NASDAQ: NFLX).

Nokia's all-or-nothing deal with Microsoft fails to answer key questions about smartphone development and risks a turbulent transition period, analysts said on Monday, driving its shares down yet further.

Samsung launched its 10.1-inch Galaxy Tab at the Mobile World Congress event in Barcelona, reflecting its move from the 7-inch form factor to tackle the likes of Motorola Xoom and Apple iPad.

A new virtual entrepreneurship hub from the New York University will now enable technology innovation and startup formation within the campus community by providing a growing array of entrepreneurial resources, programs, and activities online.

Egypt’s military council on Sunday dissolved the parliament ruled by former president Hosni Mubarak and suspended the constitution temporarily for six months or until parliamentary and presidential elections are over.

China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.

Legendary Brazilian striker and World Cup-winner Ronaldo announced his retirement from football in an emotional press conference on Monday.

The federal Pell Grants program may witness cuts up to $100 billion, according to Jacob Lew, director of the Office of Management and Budget.