IBT Staff Reporter

Defaults of multifamily and commercial real estate loans from banks climbed to their highest rate since at least 2003, as lenders gave up hope of being repaid in full, according to a report by research firm Real Estate Econometrics.

NEW YORK - Third Avenue Management, the firm founded by famed value investor Marty Whitman, is rolling out its first debt fund on Monday, which will invest in credit securities, such as high-yield junk bonds, bank loans and distressed securities.

The battle over privacy protections online is moving to a new arena: The next major phase in the history Google's Book Search service.

Tata Motors (TAMO.BO) (TTM.N), India's largest vehicle maker, posted a consolidated loss for its fiscal first quarter, but remained confident about the prospects of its loss-making Jaguar and Land Rover (JLR) unit.

U.S. stocks fell on Monday as concerns about the global economy's health weighed on Wall Street following a sell-off in Chinese equities.

Italian vehicle group Fiat SpA's (FIA.MI) Magneti Marelli unit has signed an agreement with Italy's FAAM SpA for development, production and sale of lithium batteries, Fiat said on Monday.

Ford Motor Co (F.N) will report a U.S. auto sales increase in August and the industry may post its first monthly year-over-year sales rise since October 2007, the automaker's chief sales analyst said on Monday.

The makers of Camel and Kool cigarettes and other tobacco companies filed suit in federal court on Monday to try to block provisions of a recently enacted U.S. tobacco law they say would interfere with their right to communicate with adult smokers.

Former President George W. Bush's daughter, Jenna Bush Hager, is set to become a correspondent for the U.S. television news and talk show

The celebrity and heiress Paris Hilton may pursue her lawsuit against Hallmark Cards over its use of her picture and catchphrase

A cluster of U.S. regional reports on Monday showed business picking up steam in August, suggesting the national economy is finally breaking free of its deep recession.

For corporate America and Wall Street, the second quarter may be a tough act to follow.Just as investors were closing the book on second-quarter earnings, Dell Inc (DELL.O) drew them back in by accidentally releasing earnings that beat expectations just minutes before Thursday's closing bell.

U.S. stocks ended lower on Monday as a sharp drop in Chinese equities added to concerns about the global economy's recovery.

China Mobile on Monday formally launched its Ophone platform and Ophone handsets, days after its rival China Unicom's non-exclusive iPhone deal with Apple.

Bankrupt Lyondell Chemical Co has sued some of its bondholders to prevent them from trying to collect money when an agreement ends next month, arguing the consequences of letting them do so would be disastrous and threaten its European units.

Jerome Kerviel, the French former trader blamed by Societe Generale for close to 5 billion euros ($7.2 billion) in losses, was ordered to stand trial on Monday, his lawyer Olivier Metzner told Reuters.

The leaders of Germany and France took aim at the banking sector on Monday, pledging to check banks' power and push for limits on bonus payments at a Group of 20 summit next month.

Lakeside Steel was granted intervenor status in the Canadian government's lawsuit against U.S. Steel on Monday, a position the small Canadian company hopes will give it a chance to acquire U.S. Steel's operations in southern Ontario.

LOS ANGELES - Former President George W. Bush's daughter, Jenna Bush Hager, is set to become a correspondent for the U.S. television news and talk show

Brookfield Properties, one of Manhattan's biggest landlords, said on Monday it would raise C$150 million by selling 6 million preferred shares.

Apple Inc said on Monday that it would host a media event next week, when the company is widely expected to unveil an updated line of iPod media players.

Oil prices fell nearly 4 percent to below $70 a barrel on Monday as fear of a curb in Chinese bank lending dented optimism about the pace of economic recovery and a potential rebound in global energy demand.

U.S. tax authorities may be forgoing $1.4 billion of revenue annually because they fail to thoroughly compare mortgage interest statements submitted by banks against individual tax returns, according to a government report released on Monday.

Oil prices fell nearly $3 to below $70 a barrel on Monday as fear of a curb in Chinese bank lending dented optimism about the pace of economic recovery and a potential rebound in global energy demand.

NEW YORK - Crexus Investment Corp estimates its planned initial public offering will yield $500 million, according to an updated prospectus filed on Monday with the U.S. Securities and Exchange Commission. Crexus, which filed for its IPO in June, said it expected its 33.3 million shares to price at $15 apiece.

Oilfield services company Baker Hughes Inc said on Monday it would buy smaller peer BJ Services Co for $4.9 billion to create a one-stop shopping destination for its oil and gas producing customers and better take on the industry's leaders.

The International Brotherhood of Teamsters union urged shareholders of FedEx Corp on Monday to back its effort to separate the positions of chairman and chief executive at the U.S. package delivery giant.

Disney characters (L-R) Minnie Mouse, Mickey Mouse, Goofy and Donald Duck pose for photographers after their arrival at the airport in Mumbai January 4, 2006.

Disney's Marvel; One Stop Oil Shop; Apple's China Adventure