IBT Staff Reporter

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Japan's Suntory considering merge with Kirin

Japanese brewer Suntory Holdings Ltd said on Monday it was considering a merger with larger rival Kirin Holdings Co in a deal that would create one of the world's largest beverage and food firms.

Asian shares hit by earnings worries, yen firm

Asian shares fell 2.6 percent on Monday, with Japan's Nikkei down for a ninth straight day, as concerns about company earnings outlooks weighed, while oil languished near a six-week low as faith in a rapid economic recovery faded.

Rio arrests reflect Beijing financial jitters

China's arrest of Rio Tinto staff for spying points to economic worries in Beijing, a security analyst said, and an Australian newspaper reported China's president endorsed the Rio investigation.

Oil falls below $59 as economic worries linger

Oil prices fell $1 to below $59 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.

BofA balking at paying fees for guarantees: report

Bank of America Corp is trying to avoid paying billions of dollars in fees to U.S. taxpayers for guarantees against losses at Merrill Lynch, saying the rescue agreement was never signed and the funding never used, Bloomberg reported citing people familiar with the matter.

CIT working on survival plan: report

CIT Group Inc officials are scrambling to come up with a plan to convince customers and investors the commercial U.S. lender can work its way out of a deepening liquidity crunch, The Wall Street Journal reported on Sunday.

Nikkei down for ninth day, oil steadies at $60

Japan's Nikkei fell for a ninth straight day on Monday as concerns about company earnings outlooks weighed on Asian stocks, while oil languished near a six-week low as faith in a rapid economic recovery faded.

LG launches app store, initial focus on Asia

LG Electronics Inc, the world's No. 3 handset maker, is launching an online store for mobile phone applications Tuesday with an initial focus on Asia and aspirations for a more global reach by year-end.

Lawmakers reject tax to pay for health reform

U.S. lawmakers on Sunday criticized a plan to raise taxes on the wealthy to pay for a $1 trillion healthcare overhaul and warned Congress was unlikely to meet President Barack Obama's goal of passing the measure by August.

Japan's Kirin and Suntory in merger talks: Nikkei

Japanese brewer Kirin Holdings Co and smaller unlisted rival Suntory Holdings Ltd are in talks to merge and create one of the world's largest beverage and food firms, the Nikkei business daily reported on Monday.

Weather forces NASA to postpone shuttle launch

Heavy clouds near the Kennedy Space Center forced NASA to call off Sunday's launch of the space shuttle Endeavour on a mission to deliver a Japanese-built porch to the International Space Station.

Bruno fashions top spot at U.S. box office

Bruno, British satirist Sacha Baron Cohen's latest subversive outing, narrowly claimed the No. 1 spot at the weekend box office in North America, according to studio estimates issued on Sunday.

UK to set out route map for cutting emissions

The British government will set out a route map on Wednesday showing how it plans to meet its 2020 target of cutting greenhouse gas emissions by 34 percent compared to 1990 levels, a minister said on Sunday.

U.S. officials to prod China on climate change

U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke visit their ancestral homeland this week to press China to join with the United States in stepped-up efforts to fight global warming.

U.S., UBS seek court delay; may settle tax fight

The U.S. government and UBS AG asked a federal judge on Sunday to delay the start of a closely-watched trial, as they seek to resolve their dispute over U.S. demands for the identities of thousands of wealthy Americans suspected of using the Swiss bank to dodge taxes.

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