IBT Staff Reporter

China started construction of the country's first 10-gigawa wind power base in Jiuquan of northwest Gansu province on Saturday as Beijing seeks more clean power to fuel its fast economic growth.

GMAC Inc on Monday said it will resume offering leases on select vehicles in most U.S. states, a year after curtailing the practice.

UK-based waste treatment company New Earth Group aims to raise 15 million pounds ($25.14 million) to diversify into power generation and says it can generate 20 percent-plus returns under new incentives.

Indian authorities were inspecting a North Korean ship detained in the Bay of Bengal for nuclear material or fuel, officials said on Monday, the latest sign of the international noose tightening around the North.

New Zealand set itself a goal on Monday to cut carbon emissions by between 10 and 20 percent by 2020, holding off setting a hard target until a broader global climate pact now under negotiation takes shape.

Network security provider Fortinet Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of common stock.

The dollar held gains against the euro and a currency basket on Monday following a broad rally late last week on surprisingly strong U.S. jobs figures.

Coal-dependent China will unveil a plan to foster the development of new energy sources, including wind, solar and nuclear, by the end of this year, state media on Monday quoted a senior energy policy official as saying.

A mudslide triggered by torrential rains from a typhoon may have buried up to 600 villagers in mountainous southern Taiwan, disaster officials said on Monday.

Partner Communications, Israel's second largest mobile operator, posted a 2.1 percent rise in quarterly profit but said the launch of Apple's latest iPhone would hurt cash generation in the second half.

Italian Prime Minister Silvio Berlusconi on Monday said it was unacceptable for state TV to criticize the government and rebuked a left-leaning newspaper which regularly publishes lurid stories about his sex life.

Philippines' San Miguel Corp (SMC) said it was keen to gain a majority in Manila Electric Co by buying a 13.4 percent stake of the Lopez family in a deal that could be worth as much as $840 million.

Barnes & Noble Inc said on Monday it plans to buy Barnes & Noble College Booksellers Inc for $596 million, reuniting the Barnes & Noble brand, and its shares jumped more than 12 percent.

Iran accused the West on Monday of meddling in its state affairs for criticizing its mass trial of moderates charged with spying and trying to topple the clerical establishment after the disputed president vote.

Russia's MDM bank plans to boost its loan portfolio by 20-25 percent this year and may sell a minority stake to financial investors as growth in bad loans slows down, the bank's chairman said.

Children should not routinely be given flu drugs like Tamiflu since there is no clear evidence they prevent complications and potentially harmful side effects may outweigh any benefits, British researchers said on Monday.

Leading health experts on Monday called for repeal of outdated laws criminalizing prostitution and homosexuality so that people suffering from HIV/AIDS or at risk from the disease could get medical treatment.

Mitsubishi Chemical Holdings, is in talks to buy smaller rival Mitsubishi Rayon for up to $2.1 billion, the Nikkei business daily reported, in a move that would help consolidate Japan's overcrowded chemicals sector.

China's Yanzhou Coal has agreed to buy coal miner Felix Resources Ltd, a source said, in a deal worth up to $3.3 billion that underscores China's growing interest in Australia's resources sector.

Hormel Foods Corp raised its fiscal 2009 earnings forecast on Monday, citing a stronger-than-expected third quarter.

Oil prices edged above $71 a barrel on Monday, drawing some support from the possibility of the first tropical cyclone of the hurricane season, but gains were capped by prospects for a stronger dollar.

After relying on a pacemaker for 20 years, Carol Kasyjanski has become the world's first recipient of a wireless pacemaker that allows her doctor to monitor her health from afar -- over the Internet.

The worst U.S. recession since the Great Depression will probably end in the third quarter, but there is uncertainty over the speed and duration of the economic recovery, according to the most recent survey of private economists.

Wireless carrier Virgin Mobile USA Inc , which has agreed to be acquired by Sprint Nextel Corp , reported a higher quarterly profit that beat market estimates as it continued to benefit from the growth of its profitable hybrid customer base.

Can fast cars, glamorous locations and superstar acts establish a global live-music TV franchise? Universal Music Group International and Formula One Administration are banking on it as they prepare to launch their F1 Rocks concert series this fall.

Japan's Toyota Motor Corp (7203.T) plans to raise its global output target for the year to March 2010 by three percent to 6.5 million units, the Yomiuri newspaper said, in the latest sign of a nascent recovery in auto demand.

Nortel Networks said on Monday its chief executive would step down immediately and its board would shrink from nine directors to just three as the bankrupt telecom equipment maker sheds its major assets.

Insolvent telecom equipment maker Nortel Networks posted a bigger quarterly loss on Monday as reorganization costs and plunging sales dented the company's results.