IBT Staff Reporter

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Oil drops to $71, eyeing weaker equities

Oil fell more than 2 percent to around $71 a barrel on Monday as a drop in China's key stock dented optimism about the pace of economic recovery and the U.S. dollar strengthened.

New flu hit estimated 10 percent of New Yorkers

The new H1N1 swine flu is estimated to have infected about 800,000 people in New York City in the spring, a top U.S. health official said on Sunday, citing a study due to be released later this week.

Green protesters target E.ON's Ratcliffe plant

Environmentalists campaigning against climate change said on Monday they would attempt to shut down German utility E.ON's power station at Ratcliffe in central England in a mass action planned for October.

In healthcare debate, both sides cite Kennedy

The day after U.S. Senator Edward Kennedy's burial, leading Democratic and Republican senators on Sunday seized on his reputation for compromise to call for cooperation in the healthcare debate but showed little give in their own positions.

Regulatory questions for Astra, Boehringer drugs

BARCELONA - AstraZeneca and Boehringer Ingelheim both unveiled strong results for new heart drugs at the European Society of Cardiology congress at the weekend -- but neither is guaranteed a home run with regulators.

Americans more confident on healthcare costs: poll

Fewer Americans are afraid that they will be unable to pay for healthcare services and fewer expect to postpone medical treatments due to costs, according to a Thomson Reuters survey published on Monday.

AT&T looking to invest in India's BSNL -report

U.S. phone company AT&T (T.N) is in talks to buy a stake in Indian state-owned telecoms firm Bharat Sanchar Nigam Ltd [BSNL.UL], the Economic Times said on Monday, citing unnamed sources with knowledge of the development.

Oil drops to $71 as Chinese stocks fall

Oil fell more than 2 percent to around $71 a barrel on Monday as a drop in China's key stock index stoked worries about the pace of economic recovery and a revival in energy demand.

China's BYD says Buffett wants to raise stake

U.S. billionaire Warren Buffett intends to raise his stake in Chinese electric car and battery maker BYD Co Ltd , BYD's chairman said on Monday, sending shares in his company up 8 percent.

Dangerous hurricane headed for Baja California

Hurricane Jimena, a dangerous Category 4 storm off Mexico's Pacific Coast, was on track to buffet resorts on the Baja California peninsula on Tuesday, the U.S. National Hurricane Center said.

AMD ships lower power server chip

Advanced Micro Devices Inc ships a lower-power version of its Opteron server chip on Monday as it tries to expand its offerings for Web hosting companies.

China stocks tumble; yen jumps after Japan vote

Chinese stocks sank 6 percent to a three-month low on Monday, weighing on Asian shares, sapping investor willingness to take risks and giving the yen an added boost after Japanese voters swept the opposition into power.

Stock futures signal losses as commodities retreat

U.S. stock index futures pointed to a lower open on Wall Street on Monday for the last session of the month, with futures for the S&P 500 down 0.78 percent, Dow Jones futures down 0.77 percent and Nasdaq 100 futures down 0.87 percent at 0825 GMT (4:25 a.m. EDT).

Tribune may exit bankruptcy this fall: report

Bankrupt U.S. media group Tribune Co could emerge from bankruptcy in the autumn without a major overhaul of its present top management, the New York Times said, citing people briefed on the restructuring plans.

Two firefighters die in growing LA wildfire

The five-day-old wildfire burning out of control in the Los Angeles foothills and forest claimed its first victims on Sunday, two firefighters whose vehicle plummeted off the side of a road.

Myanmar refugees wary of returning from China

Refugees who fled to China from armed clashes in northeast Myanmar are weighing a return to farms, homes and shops against fear of the Myanmar army, while both governments asserted that normality was returning.

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