IBT Staff Reporter

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GM completes IPO paperwork, filing expected by Tues: source

General Motors Co has completed the paperwork for an initial public offering and timing of its filing with the U.S. securities regulators now rests with the board of the top U.S. automaker, a source familiar with the situation said on Monday.

Porsche to meet U.S. fuel standards-exec

Porsche AG will meet strict U.S. fuel economy standards of 35.5 miles per gallon when they go in force by 2016, Detlev Von Platen, the German automaker's North American president

No longer all in the family: Indian businesses step out

When it comes to Indian businesses, The Tata Group is the oldest and best-known: the conglomerate owns the luxury Jaguar car brand, it's made the world's cheapest car, and its chairman, 72-year-old Ratan Tata, oversees an empire that ranges from salt to software.

Fed says reverse mortgage loans pose risks

The Federal Reserve and other top regulators said on Monday reverse mortgages pose compliance and reputation risks for lenders, and offered guidance to financial firms on how to avoid such pitfalls.

Management Tip of the Day: asking for a raise

Too many people operate under the assumption that if they do a good job, a good salary will follow. Getting the pay you want requires asking for it. But before you ask, be sure you are prepared.

Fed sets mortgage disclosure, compensation rules

The Federal Reserve on Monday published new rules aimed at protecting consumers from abusive mortgage practices, including clearer cost disclosures and a ban on payments to mortgage brokers for steering borrowers into loans with higher interest rates.

BlackBerry to give India partial access: source

Research In Motion has assured Indian authorities of limited access to its Messenger services by September 1 and will hold talks this week on giving access to enterprise mail, a government source said on Monday.

Wall St drifts higher

Stocks rose on Monday, led by technology shares, as investors shrugged off signs of a weak economy to wade into stocks that have become cheap.

Oil dips on weak economic data, dollar supports

Oil slipped on Monday in choppy trading as weak economic data in Japan and the United States fed worries about the energy demand outlook, outweighing support from a weaker dollar. News that Japan's economy expanded by a mere 0.1 percent in the second quarter, below forecasts, weighed on Asian equities and was followed later by weak U.S. data.

Bargain hunters lift Nasdaq

The technology-heavy Nasdaq rose on Monday as investors put aside worries about the economy to take advantage of beaten-down prices.

Yen and Swiss franc up on safe-haven buying

The yen and the Swiss franc led a broad rally in safe-haven currencies on Monday, while the euro recovered as investors bet recent declines went too far, too fast, even as investors remained sensitive to risk in euro zone bond markets.

Lowe's sees sales rise despite weak results

Lowe's Cos posted weaker-than-expected quarterly results, but kept its outlook for same-store sales growth this year, assuring investors it will benefit once consumer demand picks up.

China tops Japan as second biggest economy in Q2

Growth in Japan's economy slowed to a crawl in the second quarter and analysts see more weakness ahead, adding to policymakers' headaches as they grapple with deflation and a rise in the yen that threatens an export-reliant recovery.

NY manufacturing falls short of forecast

A gauge of U.S. regional manufacturing rose in August after plunging the previous month, but it fell short of forecasts and contained some grim details, adding to evidence the U.S. recovery is losing momentum.

NY manufacturing grows, but falls short of forecast

A gauge of U.S. regional manufacturing rose in August after plunging the previous month, but it fell short of forecasts and contained some grim details, adding to evidence the U.S. recovery is losing momentum.

Russia drought may eat further into grain crop

Russia's severe drought may cut its grain output by 40 percent this year, a leading analyst said on Monday, as Russia's weather service forecast short-lived rains in some areas which could help planting for next year. Leading Russian agricultural analyst SovEcon said it cut its 2010 grain crop forecast to 59.5-63.5 million tons from a previous forecast of 70-75 million tons, a day after Russia's first grain export ban for 11 years kicked in.

Capital One credit card defaults fall in July

Capital One Financial Corp's U.S. credit-card defaults continued their decline for the fourth straight month, signaling that fewer Americans were falling seriously behind in their credit card payments.

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