IBT Staff Reporter

A monopoly abuse lawsuit against Apple Inc and AT&T over the iPhone can continue as a class action against the two companies, a U.S. judge ruled.

Fitch Ratings on Monday raised Argentina's credit ratings out of default, following the completion of a debt swap last month, but said the deal is not enough to open new financing sources for the country. Fitch assigned to Argentina's foreign-currency bonds a B rating, or five notches into junk rating, noting that the country has removed from the market more than 90 percent of the bonds it had defaulted on in 2002.

Gold eased in Europe on Monday, falling for the fourth time in the last seven sessions, as improved investor confidence boosted the dollar and sapped investment flows into the precious metals complex. Spot gold was bid at $1,203.85 an ounce at 1440 GMT, against $1,211.85 late in New York on Friday. U.S. gold futures for August delivery eased $5.60 an ounce to $1,204.20.

Morgan Stanley Smith Barney has hired two adviser teams from UBS AG and one adviser from Charles Schwab Corp , representing over half a billion dollars in client assets combined.

Stocks edged higher on Monday on optimism over new merger deals and the upcoming earnings season, though continued concerns about Europe's fiscal issues and financial sector limited gains.

Some of Europe's biggest banks are in talks with Italy's UniCredit SpA about its proposal for a 20 billion euros ($25.2 billion) private sector fund to help failing lenders, a source close to the issue said.

The California Department of Public Health has reported that whooping cough incidents in the state in June is four times higher than last year and declared an epidemic.

The euro fell against the dollar on Monday, pulling back from a two-month high, with investors betting recent gains were too far, too fast as upcoming results of stress tests on European banks loom. Some in the market said the euro had been knocked by a weekend German magazine report that the stress tests would include loan markdowns on German sovereign debt under certain conditions, countering reports last week that the tests would exempt German haircuts.

Russia's government has bought out from the country's diamond monopoly Alrosa $1 billion worth of diamonds to support the company and the diamond market amid the global economic crisis. Many diamond mining companies showed responsibility amid the economic downturn, when they drastically cut the supply and contributed to stabilizing the prices for rough diamonds, mainly last year.

Republicans should not use problems at mortgage finance giants Fannie Mae and Freddie Mac as an excuse to vote against sweeping changes to the rules of Wall Street, White House spokesman Robert Gibbs said on Sunday.

The federal regulator of Fannie Mae and Freddie Mac on Monday said it is seeking to determine if issuers of private mortgage bonds are liable for losses suffered by the two housing finance giants.

The most important thing in communication is hearing what isn't said. Meaningful communication begins when you understand that you organization depends on it and that it begins with you.

World stocks eased on Monday while the euro fell broadly as investors grew cautious ahead of a slew of key U.S. corporate earnings and details of tests on European banks' financial health. While second-quarter earnings are expected to come in strong, investors remained concerned about Europe's fiscal issues and the health of its financial sector ahead of the stress tests on the continent's banks.

The European Central Bank gave its backing on Monday to Greek plans for a 10 billion euro aid package to support the country's banks.

Gold slipped in Europe on Monday, surrendering some of the previous session's more than 1 percent gains, as the dollar firmed and investment flows into the metal dried up as concerns over euro zone risk receded.

Aon Corp , the world's largest insurance brokerage, said it will acquire human-resource service company Hewitt Associates Inc for about $4.9 billion in cash and stock to beef up its consulting business.

A June survey of 500 GPs across Australia showed that 88 percent are against the government's plan to pay them to treat patients with diabetes.

Contracts for the UAE's $10 billion Shah gas project were 40-50 percent cheaper than expected, the chief executive of the Abu Dhabi Gas Development Company said on Monday, after economic crisis made firms cut prices.

Diamonds giant De Beers has set its eyes on Indian market in a big way. The company has decided to launch its 'Forevermark' brand in India, with an aim of creating a more affordable line of jewellery targeted at the middle income segment.

Stock index futures pointed to a lower open on Monday as investors remained concerned about Europe's fiscal issues and financial sector, though some merger and acquisition news helped limit losses.

Stock index futures pointed to a lower open on Monday as investors remained concerned about Europe's fiscal issues and financial sector, though some merger and acquisition news helped limit losses.

Greece almost halved its central government budget deficit in the first six months of the year as drastic spending cuts outweighed weaker than expected tax revenues, the finance ministry said on Monday. The deficit, which does not include spending by local government and social security organisations, stood at 9.65 billion euros ($12.16 billion) from 17.9 billion euros in the same period in 2009, the ministry said in a statement.

U.S. crude oil futures fell below $76 per barrel on Monday, consolidating after a week of gains and ahead of quarterly U.S. company earnings and key macro-economic data. S&P 500 .SPX earnings are expected to have risen more than 25 percent in the second quarter but the outlook for consumer demand is less bright. U.S. retail sales figures on Wednesday are expected to show spending easing in June.

Industrial machinery maker Circor International's subsidiary Leslie Controls Inc filed for Chapter 11 bankruptcy on Monday in a bid to isolate and resolve asbestos-related personal injury claims.

All miners in the world are now eyeing Zimbabwe. Reason: The country is witnessing major changes in the mining sector and Zimbabwe is one of the biggest sources of platinum group metals. Zimbabwe is witnessing a revival in its mining sector, with major companies committing to a number of significant platinum projects. And, if Zimbabwe decides to tap its mining resources properly, the country will be on way to high growth.

As the world's largest diamond congress is meeting in Russia starting Monday, July 12, 2010 the Russian government has set the ball rolling with the announcement of the government buying out $1 billion worth of diamonds from the country's Alrosa, a monopoly firm that was plagued with global economic crisis.

Some of Europe's biggest banks are in talks over a proposal by Italy's UniCredit SpA to create a 20 billion euros ($25.2 billion) private sector fund to help failing lenders, a source close to the issue said on Monday.

Proposals being discussed by Europe's top banks to create a bailout fund should not exclude the wider financial system from contributing to rescues, the EU's financial services chief said on Monday.

Boosting credit to struggling small businesses is key to the economic recovery, Federal Reserve Chairman Ben Bernanke said on Monday.