IBT Staff Reporter

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.

U.S. stock index futures were down on Monday, following the S&P's best week in a year and as investors awaited the unofficial start of earnings season with Alcoa Inc's results later in the day.

Stock index futures were down on Monday, following the S&P's best week in a year, and as investors awaited the unofficial start of earnings season with Alcoa Inc's results.

Gold demand in the global market is set to go up following the State Bank of Vietnam's decision to allow companies to import gold again. Since Vietnam does not import gold regularly, foreign partners have not prepared gold for delivery. So, the Vietnam importers are expected to buy gold from the global bullion markets which will make some price movements.

The euro fell against the dollar on Monday, pulling back from a two-month high as concerns about the results of stress tests on European banks prompted investors to trim long positions in the single currency.

Blackstone Group will manage a $2-billion-plus Asian real estate fund of Bank of America-Merrill Lynch, in a deal that will close in the third quarter, sources familiar with the situation told Reuters.