IBT Staff Reporter

Reader's Digest Association Inc, whose namesake magazine has been a staple of dentists' offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent.

Volkswagen (VOWG.DE), Europe's biggest carmaker, gave a wary outlook for world automotive markets on Monday even while reporting a third consecutive month of sales growth in July.

The U.S. Justice Department revealed on Monday more than 130 million credit and debit card numbers have been stolen.

Nokia's global vice president James Lin has confirmed that the company has entered into serious negotiations with China Mobile to introduce its Ovi Store handset services to China, although the parties have not yet reached any public agreement, Sina Tech reported on Monday.

As American consumers abandon gas-guzzling SUVs for greener alternatives, they also face a new kind of sticker shock -- confusing claims about the energy efficiency of electric cars heading for showrooms.

Stocks suffered their worst loss in seven weeks on Monday as weak data from Japan and a disappointing outlook from retailer Lowe's Cos dampened hopes about the economy's growth.

The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers are in better financial shape than feared despite job losses and the housing slump.

More signs the U.S. economy was exiting its worst recession in 70 years emerged on Monday with reports showing confidence rising among homebuilders, factory activity perking up in New York state and credit card defaults slowing.

U.S. stocks suffered their worst loss in seven weeks on Monday as weak data from Japan and a disappointing outlook from retailer Lowe's Cos dampened hopes about the economy's growth.

Sony Ericsson on Monday entrusted the head of Ericsson's U.S. technology division with the task of leading the struggling cell phone maker back to profit and reversing a sharp decline in market share.

Dell Inc is developing mobile devices for China Mobile Ltd, according to spokesmen for the computer maker, which has long been rumored to have ambitions in the smartphone market.

The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers are in better financial shape than feared despite job losses and the housing slump.

Oil slipped 1 percent to below $67 a barrel on Monday as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.

Entrepreneurs don't retire, they just find a new project.

(Corrects third paragraph to show defaults fell to 13.81 percent, not 13.82 percent)

U.S. authorities announced what they believed to be the largest hacking and identity theft case ever prosecuted on Monday in a scheme in which more than 130 million credit and debit card numbers were stolen.

Lowe's Cos , the No. 2 U.S. home improvement chain, curbed its expansion plans and forecast worse-than-expected results in the third quarter as recession-weary consumers put off big renovations, sending its shares down more than 11 percent.

Months supply is one of the most insightful statistics used to describe the housing market. It gives a concise assessment of a market's condition as of that point in time.

The rate of U.S. credit card defaults showed signs of stabilizing last month, an indication that American consumers are in better financial shape than feared despite job losses and the housing slump.

Kelly Osbourne, one of the sixteen contestants, of the TV show Dancing With the Stars announced today she is

U.S. loan demand fell in the second quarter for every major category except prime residential mortgages, while banks tightened credit standards at a less-intense pace than in the first quarter, the Federal Reserve said on Monday.

Lowe's Cos, the No. 2 U.S. home improvement chain, curbed its expansion plans and forecast worse-than-expected results in the third quarter as recession-weary consumers put off big renovations, sending its shares down more than 11 percent.

Oil fell 2 percent toward $66 a barrel on Monday as investors became more cautious about the pace of global economic recovery and a potential revival in energy demand.

Consumers, the cornerstone of U.S. economic activity, are still in disarray, data and central bank measures signaled on Monday, as households struggle amid the worst recession since the Great Depression.

More countries are seeing a rise in distressed sales of commercial properties in the second quarter, with South Africa, the United States and New Zealand faring worst as the market downturn worsens, a report showed.

U.S. homebuilder sentiment in August rose to its highest level in over a year, a private survey showed on Monday, adding to mounting evidence that the housing market and economic recession were leveling out.

Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.

The U.S. green technology sector, which suffered a drop in funding early this year, is seeing renewed interest with venture dollars flowing in once again to promising startups and some companies looking to resurrect public offerings that had been set aside.

A U.S. regulator has extended a deadline to bid on Guaranty Financial Group assets to Tuesday, while bids for another troubled, lender Corus Bankshares Inc, are due Sept. 3, sources familiar with the situation said on Monday.