IBT Staff Reporter

European and Asian automakers are expected to build more vehicles in North America than Detroit's three automakers by 2012 following a sweeping restructuring of the domestic industry, according to a study released on Monday.

President Nicolas Sarkozy said on Monday that burqas, garments that cover women from head to toe and hide their faces, had no place in France as they were a sign of the subjugation of women.

Stocks slid on Monday as investors questioned the strength of an economic recovery, while energy shares were dragged down by lower oil prices.

Apple Inc said it had sold more than 1 million of its newest iPhone in the first three days of launch, beating analysts' expectations for the 3GS smartphone's debut.

Carmakers left on the sidelines of rapid change in Europe's auto landscape will eventually be forced into mergers and acquisitions even if they use alliances and partnerships to tackle immediate challenges.

Nokia Siemens Networks' acquisition of key assets from Nortel Networks is unlikely to be a game changer in a cut-throat telecom operators' market, even if the deal helps NSN's results and market share.

A $68 billion merger of coal giants Xstrata and Anglo American would rattle a global steel industry that is already reeling from a tie-up between two of its biggest iron ore suppliers.

Goldman Sachs Group Inc is on pace to make record bonus payouts after a robust first half, the Guardian newspaper reported on Sunday.

Tennis fans at Wimbledon will be able to keep up with the action using a smartphone application developed by IBM, which it said could transform the way spectators access information at sporting events.

About 40,000 Pakistanis are on the move even before a military offensive begins in the Taliban stronghold of South Waziristan, U.N. officials said on Monday, and are headed for communities already stretched to the limit.

Britain pledged 5 million pounds to Zimbabwe Monday but made clear more reforms were needed before it would start large-scale development aid to the shattered country.

The head of Russia's Muslim region of Ingushetia was seriously injured on Monday in a suicide bomb attack which dealt a fresh blow to the Kremlin's fragile grip on the North Caucasus.

Battery maker EnerDel, Inc. will invest $3.3 million in a research project to develop a technology to eliminate overcharging in lithium-ion cells.

Walgreen Co posted a slightly lower quarterly profit that fell short of expectations as it spent on overhauling its product assortment, while shoppers focused on buying only necessities.

About 40,000 Pakistanis are on the move even before a military offensive begins in the Taliban stronghold of South Waziristan, U.N. officials said on Monday, and are headed for communities already stretched to the limit.

North Korean leader Kim Jong-il is likely in good health and his grip on power strong but he appears to have needed displays of military might to counter a rise in domestic unrest, a South Korean cabinet minister said on Monday.

The United States military is prepared for the possibility that North Korea may attempt to launch a missile toward Hawaii, President Barack Obama said in remarks released on Sunday.

The children of baby boomers will eventually resuscitate the pummeled U.S. housing market, Harvard University said on Monday, but in the meantime, limits on income and credit are sustaining the three-year bust.

Apple Inc sold more than 1 million units of its newest iPhone, the 3GS, in the first three days of launch, the company said on Monday.

Wall Street was poised for a lower open on Monday as investors assessed the potential strength of an economic recovery, while energy shares could be pressured by lower oil prices.

Iran's hardline Revolutionary Guards on Monday threatened to crack down on street protests after opposition leader Mirhossein Mousavi called on supporters to stage more demonstrations over the disputed June 12 election.

The U.S. recession is taking a bite out of national brand loyalty in products ranging from Advil pain reliever and Green Giant frozen vegetables to Jif peanut butter, according to a study released on Monday.

The Organization for Economic Cooperation and Development added to a grim outlook from the World Bank on Monday, saying major economies will contract throughout 2009 and the problem of unemployment will linger.

Shares in Anglo American Plc jumped as much as 12 percent on Monday after rival Xstrata Plc sought talks about a merger of equals to better compete in a consolidating mining sector.

Walgreen Co posted a slightly lower quarterly profit as shoppers remained focused on buying only necessities.

Wall Street was poised for a lower open on Monday as investors assessed the potential strength of an economic recovery ahead of a round of key data this week.

Debt-laden Norwegian solar material supplier Renewable Energy Corp said most of its customers on long-term contracts were looking to agree lower wafer prices while module prices could fall 30 percent this year, sending its shares lower on Monday.

The Australian parliament's upper-house Senate began debating plans for the government's carbon trading scheme on Monday with little sign the package of 11 bills will pass.

Apple Chief Executive Steve Jobs underwent a liver transplant operation about two months ago and is expected to return to work by the end of June, The Wall Street Journal reported on Saturday.