IBT Staff Reporter

Saudi Arabia, the world's top oil exporter, is burning more crude in domestic power plants to keep new wells pumping and produce cleaner electricity, likely eliminating demand for imported fuel this summer.

Stock index futures were little changed on Monday as reduced outlooks from diversified manufacturer Honeywell Inc and health insurer Aetna Inc sparked caution.

Aetna Inc sharply cut its full-year earnings forecast on Monday because of higher-than-projected medical costs as the health insurer posted a 28 percent drop in second-quarter net income.

World oil consumption will rise for the first time in two years in 2010 as a recovery in the global economy boosts demand, according to a Reuters poll of top oil-tracking analysts and organizations.

A U.S. Treasury official overseeing compensation at firms that got big federal bailouts may renegotiate pay packages that he thinks are too generous, the Wall Street Journal reported on its website on Sunday.

Verizon Communications posted a smaller quarterly profit on Monday but revenue rose due to wireless subscriber growth and its purchase earlier this year of rural wireless operator Alltel.

RadioShack Corp reported a higher-than-expected quarterly profit on lower costs and improved sales of netbooks, prepaid wireless handsets and digital televisions, and the retailer's shares rose 4 percent.

Strong US corporate earnings and positive daily finishes in global equity markets along with a mixed bag of US economic data saw the Greenback lose ground against the Pound and EURO but hold steady against the YEN.

Federal Reserve Chairman Ben Bernanke traveled to the U.S. heartland to defend the central bank's actions and reaffirm his assessment of an improving, but still vulnerable, U.S. economy.

Federal Reserve Chairman Ben Bernanke traveled to the U.S. heartland to defend the central bank's actions and reaffirm his assessment of an improving, but still vulnerable, U.S. economy.

Hitachi Ltd plans to absorb five listed units, two sources close to the matter said on Monday, as the loss-making conglomerate tries to pool its sprawling resources to turn a profit.

RadioShack Corp reported a higher-than-expected quarterly profit on Monday, boosted by lower costs and improved sales of netbooks, prepaid wireless handsets and digital televisions.

Citigroup Inc said on Sunday some 99 percent of its stock was tendered in an exchange offer for publicly held securities, in a key step toward giving the U.S. government a 34 percent equity stake in the bank.

JP Morgan Chase & Co revamped some of its senior equities staff looking to gear the bank for more push into prime brokerage, the Wall Street Journal said, citing people familiar with the matter.

Stock index futures pointed to a slightly higher open on Wall Street on Monday, mirroring gains in Asia and Europe, on mounting optimism over a recovery in corporate profits that has fueled a sharp two-week rally on stock markets worldwide.

Health insurer Aetna Inc is looking to sell its pharmacy benefits management business, the Wall Street Journal said, citing several people familiar with the matter.

Irish budget airline Ryanair cut full year profit forecasts to the lower end of its range on Monday due to falling yields, sending its shares down 10 percent and impacting the broader airlines sector.

World stocks raced to fresh nine-month highs and oil rallied on Monday as a recent run of strong corporate earnings and anticipation for more boosted optimism for a recovery in the global economy.

Asian stocks rose for the ninth day in 10 on Monday, with investors still focused on upward momentum in corporate earnings, though some worried whether the gains were racing ahead of longer-term economic prospects.

Filming for Iron Man 2 finished just last week but thousands of fans got their first sneak peek at the star-studded new cast members this weekend at the Comic-Con convention.

Asian stocks rose for the ninth day in 10 on Monday, with investors still focused on upward momentum in corporate earnings and moving money into riskier, higher-yielding assets.

Irish airline Ryanair on Monday posted a better-than-expected 550 percent rise in first quarter profit thanks to a large reduction in fuel costs but said its outlook remained cautious for the rest of the year.

A Canadian astronaut aboard the International Space Station said on Sunday it looks like Earth's ice caps have melted a bit since he was last in orbit 12 years ago.

Former world boxing champion Vernon Forrest was shot dead in Atlanta, the victim of an apparent robbery, city authorities and local media said on Sunday.

Iraqi Kurdistan's two ruling parties are likely to be confirmed in power despite an unprecedented opposition challenge when election results are announced on Monday.

French President Nicolas Sarkozy was rushed to hospital on Sunday after falling ill while jogging and will stay there overnight to undergo cardiological tests, officials said.

A court in army-ruled Myanmar heard final arguments on Monday in a case involving opposition leader Aung San Suu Kyi, who faces five years in prison if found guilty of breaching a draconian security law.

U.S. Secretary of State Hillary Clinton said on Sunday that major powers wanted North Korea to return to negotiations over its nuclear program but would not reward any provocative actions.

The chief executive of a Japan-based trading company on Monday pleaded guilty to illegally exporting to North Korea two tanker trucks that could be used as missile launch pads, Kyodo news agency said.