IBT Staff Reporter

No. 2 U.S. home improvement chain Lowe's Cos Inc reported a higher-than-expected quarterly profit on Monday, boosted by strong demand for energy-efficient appliances and gardening products.

Stocks fell and the euro slumped to a four-year low on Monday as Asian markets caught up with Friday's sell-off in the West, shrugging off encouraging data and remaining fixated on troubles in the euro zone.

HSINCHU, Taiwan May 17 - AU Optronics Corp, Taiwan's No. 2 LCD maker, said an LCD panel shortage is likely to last into the second half of this year on robust demand for PCs and TVs, even though fears linger about a weak euro.

Britain's Prudential launched its $21 billion rights issue on Monday, finally allowing the insurer to push ahead with its acquisition of AIG's Asian insurance business.

The euro sank to four-year lows on Monday as angst over Europe's debt crisis led investors to pull more money from stocks in favor of havens such as gold and Asian bonds.

Global oil prices continued losses in Asian trade Monday and dropped below $70 a barrel for the first time in three months. Light sweet crude for June delivery was seen trading at $ 70.09 a barrel at 11.30 a.m Singapore time after hitting as low as $69.82 a barrel earlier. In London, Brent crude was seen at $76.53 a barrel at the same time.

World's two largest gold consumers, India and China, have different figures to offer as afar as gold sale is concerned last week. Global leader in gold consumption, India witnessed not so impressive figures last week as traditional gold buying festival 'Akshaya Trithiya' fails to boost sales. The festival, which is more popular in south India, is the second-largest gold buying day in the world's largest market for gold.

Britain's Prudential laid out the case for its $21 billion rights issue on Monday, finally allowing the insurer to push ahead with its planned acquisition of AIG's Asian insurance business.

U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.46 percent, Dow Jones futures down 0.51 percent and Nasdaq 100 futures down 0.21 percent at 3:55 a.m. ET.

The US environmental advocacy groups reported that several perfumes containing chemicals that have not been thoroughly tested for safety may have serious health effects.

The global electronic book market will grow almost 80 percent this year, aided by Apple's iPad, but devices with limited multimedia functions will remain a mainstream segment thanks to consumers seeking a serious reading experience, LG Display said on Monday.

The groom looked dashing, his bride resplendent in white, but all eyes in this Japanese wedding were on the priest, a four-foot tall robot with colorful, flashing eyes called i-Fairy.

China's Internet firewall is a trade barrier and needs to be tackled within the framework of the World Trade Organization, Neelie Kroes, vice-president of the European Commission, told reporters in Shanghai on Monday.

Global miner BHP Billiton appeared to soften on Monday its opposition to a new Australian mining tax, saying the levy should apply only to new projects, while the government signaled it might be open to compromise.

China's Anshan Iron and Steel Group , also known as Angang, confirmed on Monday it would invest in a steel mill in the United States.

Private equity firm Apollo Global Management is in talks to buy U.S. packaging maker Pactiv Corp in a leveraged deal, the Wall Street Journal said, citing people familiar with the situation.

Indigenous communities in central Australia have ranked the worst in the world for rates of severe pneumonia among young children.

The yuan has risen strongly against the euro and this appreciation will harm Chinese exporters, a Commerce Ministry official said on Monday.

U.S. equipment rental company Neff Rental Inc filed for a prearranged Chapter 11 bankruptcy protection late Sunday in order to shrink its balance sheet and eliminate more than $400 million of debt.

Gold prices moved up smoothly in Asian trade Monday and inching towards a new record as the euro tumbled to a 4 year low against the dollar. Gold for immediate delivery was seen trading at $1239.97 an ounce at 11.30 a.m Singapore time while U.S. gold futures for June delivery was at $1241.03 an ounce at the same time.

The yuan has risen strongly against the euro and this appreciation will harm Chinese exporters, a Commerce Ministry official said on Monday. Pegged to a rising dollar, the yuan has appreciated against a trade-weighted basket of currencies in recent months, which many analysts believe could constrain the scope for a possible revaluation of the Chinese currency.

Capital inflows are placing big pressure on China this year, as domestic companies and banks repatriate large volumes of foreign currency, a senior official said in remarks published on Monday.

Australia's federal government is aiming to wrap up consultation talks with miners over its plans for a new tax as soon as possible to help investment decisions, Resources and Energy Minister Martin Ferguson said on Monday.

Astellas Pharma , Japan's No.2 drugmaker, agreed to buy U.S. biotech OSI Pharma for $4 billion in cash in a sweetened bid that allows it to add OSI's blockbuster cancer drug Tarceva to its line-up.

National Australia Bank , the country's top lender, has returned about A$3.5 million ($3.10 million) to 16,000 customers for overcharging them, due to a system error, and interest compensation.

Britain's Prudential Plc is planning to launch its delayed $21 billion rights issue on Monday, the Financial Times reported, citing a person close to the situation.

Venezuela's President Hugo Chavez on Sunday signed a new foreign exchange law intended to strengthen the bolivar currency, but critics say it will backfire and hurt the economy.

A team of researchers from Victoria have established a clear link between depression and diet in teenagers. Depression becomes more common when children reach puberty but it is not only due to their hormonal changes.

Children whose mothers had low exposure to sunlight during their first three months of pregnancy may have a higher risk of developing multiple sclerosis(MS) later in life, according to a study in Australia.