IBT Staff Reporter

A diabetes drug from Switzerland's Roche Holding AG showed promising results in a mid-stage trial and will be developed further, the company said on Monday.

GlaxoSmithKline's experimental diabetes drug Syncria seems comparable to but not significantly better than other so-called GLP-1 medicines, industry analysts said on Monday.

Belgian-based financial group Fortis said on Monday it faces a legal claim for 362.5 million euros ($506 million) from a former unit now owned by the Dutch state.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, on strong demand in Europe and Asia/Pacific.

The U.S. automobile industry had quite a party during the recent credit-infused economic boom, but the hangover could last for years to come.

Russia sees the expertise of German auto maker Opel as its chance for a technological breakthrough in its ailing car industry, a top Russian government official said on Saturday.

Solar firm SunPower Corp. said Monday it signed a deal with Jabil Circuit to manufacture solar panels in Mexico for the North American market.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, with demand strong in Europe and Asia/Pacific.

Oil fell by $1 toward $68 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Stocks opened lower on Monday after McDonald's warned on its second-quarter profit and on concerns that a push by banks to repay government bailouts may divert funds from an economic recovery.

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Edward Krudy

The 10-year U.S. Treasury yield hit a seven-month high on Monday ahead of fresh supply this week and because of speculation the Federal Reserve may have to raise interest rates sooner than anticipated.

Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) CEO Jeroen van der Veer said on Monday that looking at current poor margins, the world has more oil refining capacity than needed.

Britain's Prime Minister Gordon Brown faced the prospect of a new challenge to his leadership on Monday when support for his ruling Labour Party plunged to its lowest level in a century after European elections.

McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, on strong demand in Europe and Asia/Pacific.

President Barack Obama said on Monday he expected to create or save 600,000 jobs over the next 100 days by expediting 10 major projects funded by a huge stimulus package that Congress passed in February.

The French Budget Ministry has made European Union carbon emissions permits and Kyoto offsets exempt from value-added tax, emissions exchange BlueNext said, adding that spot trade will remain halted until Wednesday morning.

North Korea, facing U.N. sanctions for last month's nuclear test, on Monday raised the stakes in its growing confrontation with Washington by sentencing two U.S. journalists to 12 years hard labor for grave crimes.

The world's airlines have committed to achieve carbon neutral growth by 2020, the head of the global aviation body IATA said on Monday.

The Chinese government has required that personal computer makers bundle a software that filters Internet content from July 1, according to a Ministry of Industry and Information Technology document seen by Reuters.

Stock index futures pointed down about 1 percent on Monday after three weeks of gains, while markets awaited word from the government about the repayment of bank bailout money this week.

Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal.

Oil fell by $1 toward $67 a barrel on Monday as a stronger dollar prompted a retreat from a seven-month high above $70 hit last week.

Stock index futures pointed down about 1 percent on Monday after three weeks of gains, and markets awaited government word about the repayment of bank bailout money this week.

Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1 percent, Dow Jones futures down 0.9 percent and Nasdaq 100 futures down 1.1 percent.

Global airlines are likely to lose $9 billion this year, the International Air Transport Association said on Monday, nearly double its estimate of just three months ago, as rising fuel prices and weak demand create an unprecedented crisis for the industry.

Barclays Plc is in talks to sell Barclays Global Investors , the British bank said on Monday, with U.S. fund manager BlackRock the frontrunner to land the asset manager for about $12 billion.

Global airlines are likely to lose $9 billion this year, the International Air Transport Association said on Monday, nearly double its estimate of just three months ago, as rising fuel prices and weak demand create an unprecedented crisis for the industry.