IBT Staff Reporter

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Global recovery concerns sink Wall Street

Stocks fell broadly on Monday as ongoing concerns about the speed of a global economic recovery were compounded by data from Japan, which showed that while the world's No.2 economy returned to growth, the recovery may be shaky.

North Korea reopens to South as economy weakens

North Korea said on Monday it would reopen its border with the South, ending a self-imposed 9-month blockade on a vital source of cash for its leaders as their ravaged economy is squeezed by tightening U.N. sanctions.

Down under, UBS stealing deals thunder

The Australian unit of Swiss bank UBS AG thriving, even as its parent struggles in the global financial crisis, and has earned a reputation for snatching deals from rivals and making a success of them.

U.S. videogame sales down 29 percent in July

U.S. videogame equipment and software sales fell 29 percent in July to $848.9 million, research group NPD said on Thursday, as the gaming industry limps through the economic downturn.

China's CIC to buy U.S. mortgages: sources

China's $200 billion sovereign wealth fund, which made big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery, two people with direct knowledge of the matter said on Monday.

TomTom iPhone App Review Video

TomTom's much anticipated turn by turn app for the iPhone was released on Monday on iTunes for $99. The app uses the iPhone's built-in GPS chip to provide users with real-time navigation directions

Daily Outlook - August 17 - Energy

Crude oil futures declined to their lowest level in the entire month to below $66 per barrel on Monday on concerns over the economic recovery. Crude was trading down $1.42 at $66.09 per barrel in the New York Mercantile Exchange ahead of the opening of the market by 8:39 a.m. today.

Stock futures point lower as Japan data weighs

Stock index futures pointed to a steep fall at the open on Monday as global equities sold off after data from Japan showed that while the world's No. 2 economy returned to growth, a recovery may be shaky.

Time no barrier as Cropredy Fest rocks on and on

Simon Nicol, the last original member of folk rock band Fairport Convention, admits he's not into numbers, which may be why no one is quite sure what milestone just passed in this rural English village.

Multi-pronged career keeps guitarist Haynes busy

Singer/songwriter/guitarist Warren Haynes is rock 'n' roll's consummate jam band professional -- and these days, that isn't a contradiction in terms. A maverick on both the business and creative sides of his career, he handles duties as an integral player in the Allman Brothers Band and the Grateful Dead, as well as with his own hard-touring outfit, Gov't Mule, and occasionally finds time to engag...

Wall Street slightly pares losses after data

Stock futures slightly trimmed losses but still pointed to a steep drop at the open on Monday after a regional gauge of manufacturing suggested growth was returning to the sector.

Struggling Sony Ericsson taps new head

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

Weinstein Co in dire need of a hit: NY Times

The Weinstein Co, founded by the two brothers behind some of the most iconic films of the past 20 years, are under pressure for one of their next movies to be a blockbuster, The New York Times reported on Sunday.

Swedbank calls surprise $2.1 billion rights issue

Swedbank will raise 15 billion Swedish crowns ($2.1 billion) in a rights issue to boost a balance sheet hit by bad debts in the Baltics, the bank said on Monday, after saying in June it didn't need more capital.

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