IBT Staff Reporter

3Com Corp is scheduled to report second quarter on Thursday, Jul 9, before the start of trading. Consensus analyst estimates are for EPS of $0.05, down from $0.09 in the year-ago period. Revenues are also expected to fall to $295 million, down 8% from the $321 million 3Com reported in fiscal Q4 2008.

Oil fell to below $65 a barrel on Monday and touched a five-week low earlier in the session, pressured by doubts over the prospects for a recovery in the global economy and energy demand.

China Mengniu Dairy said on Monday that it will raise HK$3.058 billion ($394.6 million) from a share sale to China National Oils, Foodstuffs and Cereals Corp (COFCO) and Hopu Investment Management.

The European Union on Sunday denounced Iran for a recent spate of executions, highlighting Saturday's hanging of 20 drug traffickers.

Brazilian state oil company Petrobras said Monday it suspended test production at a well in the offshore Tupi field due to an equipment problem.

Hong Kong conglomerate Hutchison Whampoa has asked potential buyers to submit bids for its majority stake in Israel's Partner Communications by Wednesday, the Maariv newspaper said on Monday.

France's Sanofi-Aventis said the results of a study on the link between its Lantus diabetes drug and retinopathy, which causes blindness, showed the risk for patients was not greater than with human insulin.

Some main events coming up this week.

India's Tech Mahindra said on Monday it would still look to boost its stake in Mahindra Satyam through a purchase of new shares direct from Satyam, after a public offer received a poor response.

A North Korean ship tracked by the U.S. Navy on suspicion of carrying a banned arms cargo is expected to return home on Monday after a voyage that tested U.N. sanctions aimed at punishing Pyongyang for its May nuclear test.

Iran's Supreme Leader Ayatollah Ali Khamenei warned Western countries on Monday against interfering in Iranian affairs after its disputed presidential election, state television reported.

U.S. President Barack Obama's visit to Russia has generated over $1.5 billion worth of deals, but a longer term step-change in business between the nations will depend on Moscow boosting the rule of law.

President Barack Obama, opening a visit to Russia intended to mend strained relations, said on Monday he was confident of extraordinary progress if both sides worked hard together during his trip.

Honduras blocked ousted President Manuel Zelaya's return from exile on Sunday and the country faces growing international isolation for staging Central America's first military coup since the Cold War.

At least 140 people have been killed in rioting in China's northwestern region of Xinjiang, with the government blaming exiled separatists for the Muslim area's worst case of unrest in years.

The Group of Eight nations should not presume a global economic recovery is near, World Bank President Robert Zoellick said in a letter to G8 host Italian Prime Minister Silvio Berlusconi obtained by Reuters on Monday.

Don McCullough shares a story of hope and encouragement from his writing, Walking from the American Dream, about Winston Churchill.

Oil fell to around $64 a barrel on Monday and touched a five-week low, pressured by doubts over the prospects for a recovery in the global economy and energy demand.

China will begin construction of a 120-billion yuan ($17.6 billion) wind power project in about two weeks in Gansu province as part of a major push to boost renewable energy and cut the nation's reliance on coal, the official Xinhua news agency reported.

Wall Street was poised to fall nearly 1 percent at the open on Monday, weighed by worries about the potential strength and timing of an economic recovery as a slump in oil prices was set to pressure energy shares.

The Brazilian government's plans to change the nation's oil law will not turn state-controlled oil company Petrobras into an outsourcing producer of crude nor hinder its ability to bid for exploration permits, a local newspaper said on Monday.

Porsche on Monday denied a newspaper report which said five more potential bidders have emerged for a Porsche-owned derivatives package which controls around 20 percent of Volkswagen voting shares.

India's Oil and Natural Gas Corporation and Russian companies are among those interested in buying a stake in Repsol's Argentine unit YPF, a Spanish business newspaper reported on Monday.

Lawyers for Michael Jackson and his family on Sunday prepared to square off in a courtroom hearing over control of the singer's estate as media reports mounted about powerful drugs that may have contributed to his death.

Details of Michael Jackson's public memorial remained under wraps on Sunday as Los Angeles police braced for a huge crowd of fans expected to turn out and again warned those without tickets to stay away.

The world's top cellphone maker Nokia said on Monday it was not working on introducing a phone running on Google's Android operating system.

The wife of the new head of Britain's spy agency has posted pictures of her husband, family and friends on Internet networking site Facebook, details which could compromise security, a newspaper said on Sunday.

China clamped down on the Internet in the capital of China's northwestern region of Xinjiang on Monday, in the hope of stemming the flow of information about ethnic unrest which left 140 people dead.

The surviving parts of the world's oldest Bible were reunited online Monday, generating excitement among scholars striving to unlock its mysteries.