IBT Staff Reporter

Somali pirates holding a German ship with five Germans, three Russians, two Ukrainians and 14 Filipinos on board have received a $2.7 million ransom and are counting it before releasing the ship, a pirate told Reuters.

U.S. stocks headed for a higher open on Monday as solid results from major European banks and expectations of a sales rebound for Ford Motor Co reinforced hopes that the recession is moderating.

Humana Inc, the health benefits provider, beat Wall Street earnings expectations on Monday as net income in the second quarter rose 34 percent.

Shares in UBS soared on Monday after reports said the Swiss bank would not pay a fine and would pass on fewer client names than expected in a settlement of U.S. tax litigation to be finalized later this week.

After more than a century of making cars, the U.S. state of Michigan is retraining thousands of unemployed workers for new careers now that many of their jobs may be gone for good.

Long after President Barack Obama's first term ends in 2013, millions of U.S. families will still be paying the price for the recession.

Online gaming firm 888 said on Monday it is close to making an acquisition after strong trading from its casino, bingo and sports betting web sites led to an improved overall performance in the second quarter.

In a confirmation of the general macro environment, swaptions vol is back to the previous highs of late 2008.

U.S. stock index futures rose on Monday following reassuring bank results from Europe and as investors bet that the global economy is on the road to recovery.

The German government has seen encouraging signals in recent days in negotiations to take over Opel and has positive expectations for talks this week, a government spokesman said on Monday.

Microsoft increased its share of the U.S. Internet search market by another 1 percentage point in July, taking its combined share with new search partner Yahoo to 20.36 percent, according to data released on Monday.

Microsoft increased its share of the U.S. Internet search market by another 1 percentage point in July, taking its combined share with new search partner Yahoo to 20.36 percent, according to data released on Monday.

German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International , a Belgium-based financial investor that traces its or...

German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International , a Belgium-based financial investor that traces its or...

HSBC Holdings Plc, Europe's biggest bank, said its first-half profit halved from a year ago to $5 billion as it was hit by rising bad debts in the United States, Europe and Asia.

Barclays Plc fell short of expectations with an 8 percent rise in half-year profit as bad debts at Britain's second biggest bank almost doubled to offset buoyant earnings from its enlarged investment bank.

Oil rose to a one-month high near $71 a barrel on Monday as positive Chinese economic data and firmer equities bolstered hopes of economic recovery and higher energy demand.

Japan's Panasonic Corp reported a smaller-than-expected quarterly loss and sharply lifted its half-year outlook as it cuts costs to cope with a firmer yen and weak TV sales, but stuck to its outlook for a second annual net loss.

Stock index futures pointed to a higher open on Wall Street on Monday, tracking gains in Asia and Europe on mounting hopes that the global recession is abating.

World stocks climbed to a new 2009 high on Monday with banking news from Europe generally positive and signs of a pick up in Chinese economic activity lifting Asian shares.

Yahoo Inc , which last week announced a Web search deal with Microsoft Corp , will invest money from reduced marketing and infrastructure costs into its display ad, content and mobile services technology, its chief executive Carol Bartz told the New York Times in an interview.

Japan's Panasonic Corp reported a smaller-than-expected quarterly loss as it cut costs to fight a firmer yen and weak TV and digital camera demand, and it stood by its annual outlook for its net loss to shrink by half.

Asian stocks crawled up to an 11-month high on Monday as Chinese shares cheered more signs of economic activity picking up speed, giving a boost to oil and copper prices while hurting the safe-haven U.S. dollar.

Shares in UBS are expected to rise on Monday after reports the bank would not have to pay a fine as part of the settlement of a tax dispute with the United States that is to be finalized later this week.

Japan's Panasonic Corp reported a smaller-than-expected quarterly loss as it cut costs to fight a firmer yen and weak TV and digital camera demand, and it stood by its annual outlook for its net loss to shrink by half.

China may have overstocked on commodities, risking a slowdown in buying and a correction in prices in the second half of this year, top economist Nouriel Roubini said on Monday, also reiterating that the global recession would continue until year-end.

Yahoo Inc, which last week announced a Web search deal with Microsoft Corp, will invest money from reduced marketing and infrastructure costs into its display ad, content and mobile services technology, its chief executive Carol Bartz told the New York Times in an interview.

Asian stocks inched up to an 11-month high on Monday on mounting evidence that the global economic recovery is picking up speed, giving a boost to oil and copper prices while hurting the safe-haven U.S. dollar.

HTC , the world's No.4 smartphone maker, plunged by its daily 7 percent maximum limit on Monday after it unexpectedly slashed its revenue forecast for this year.