Geithner questioned why Cubans’ Instant Messaging access was cut off
U.S. Treasury secretary, Timothy Geithner, has been questioned by the Center for Democracy in the Americas (CDA) asking the Department to launch inquiry into actions by Microsoft, and possibly other Instant Messaging (IM) providers after access to IM was cut off to Cubans and other persons living in countries under U.S. sanctions.
Global chip sales up 6.4 percent in April
Global semiconductor sales rose 6.4 percent in April to $15.6 billion from March, helped by moderate improvements in a number of end-demand drivers and inventory replenishment.
Wall Street set for higher open on China manufacturing
U.S. stocks were poised for a sharply higher open on Monday as stronger economic data from China fueled optimism that the worst of the global recession was past, even as General Motors filed for bankruptcy.
U.S. manufacturing shrinks at slower rate
The U.S. manufacturing sector contracted at a slower rate in May, while consumer spending fell modestly in April, according to reports on Monday that were further evidence the deep recession was easing.
Boston Power eyes battery plant in U.S. for green vehicles
Battery maker Boston Power is working to build a facility in Auburn, Massachusetts to build lithium-ion batteries for Plug-in Hybrid and electric battery vehicles, Notebook PCs and national security applications, the company said Monday.
Freddie to conduct tender offer for up to $30 billion
Freddie Mac this week is offering to buy back from investors up to $30 billion principal amount of its debt to reduce its effective short-term debt, the second-largest U.S. home funding provider said on Monday.
Private equity firm KKR swings to $1.2 billion loss in 2008
Private equity firm Kohlberg Kravis Roberts & Co KKR.UL posted a substantial loss in 2008 as the global economic downturn took its toll on the firm's investments.
Prime View to buy electronic paper maker E Ink
Taiwanese display maker Prime View International will buy E Ink, a company whose pioneering electronic paper is used to make digital book readers from Amazon.com and Sony.
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General Motors Corp has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history.
Lumena Resources IPO aims to raise $190 mln
Chinese chemicals maker Lumena Resources Corp began marketing a Hong Kong IPO on Monday to raise up to $190 million, according to sources familiar with the matter, testing investor sentiment for new listings in the city.
U.S. construction spending unexpectedly up in April
U.S. construction spending unexpectedly posted its biggest increase in eight months in April, advancing for a second straight month as the private sector put money into both residential and nonresidential projects, according to a government report on Monday.
Federal Reserve puzzled by yield curve steepening
The Federal Reserve is studying significant moves in the U.S. government bond market last week that could have big implications for the central bank's strategy to combat the country's recession.
BNP Paribas ups 2010 oil forecast to $75 a barrel
French bank BNP Paribas raised its average U.S. crude oil price forecast for 2010 on Monday to $75 a barrel from $63.
Oil jumps to $68 on equities, dollar
Oil rose more than 2 percent to a seven-month high on Monday, extending its biggest monthly gain in a decade due to rallying stock markets and sustained expectations for a global economic recovery.
China manufacturing sends futures sharply higher
U.S. stock index futures rose more than 1 percent on Monday as stronger Chinese economic data lifted investor optimism that the worst of the global recession was past.
China manufacturing sends stock futures sharply higher
U.S. stock index futures rose more than 1 percent on Monday as stronger Chinese economic data lifted investor optimism that the worst of the global recession was past.
Goldman Sachs selling up to $1.9 bln in ICBC shares
Goldman Sachs was on Monday selling up to about $1.9 billion worth of shares in Industrial and Commercial Bank of China at a discount of 4 percent to 6 percent to the Chinese lender's Monday closing price, according to a term sheet.
Redback to buy Moto Goldmines for C$513 million
Red Back Mining Inc said on Monday it has agreed to buy Moto Goldmines Ltd for shares valued at C$513 million ($471 million) to take control of a African mining project.
Prudential to offer $1.25 bln in stock
Prudential Financial Inc, the No. 2 U.S. life insurer, said it plans to sell $1.25 billion of common stock after turning down U.S. aid.
Tiananmen mothers won't let memory of their dead fade
Twenty years after her teenage son was shot by troops near Tiananmen Square in Beijing, Zhang Xianling is still trying to work out how many others died with him.
Settlers seek takeover of East Jerusalem area
Israeli settlers are waging court battles to evict dozens of Palestinians from homes in an East Jerusalem neighborhood, a move threatening to widen Israel's rift with U.S. President Barack Obama over settlements.
SunTrust speeds up capital-raising plan
SunTrust Banks Inc , a U.S. Southeast regional bank ordered by federal regulators to raise $2.2 billion of equity capital, on Monday speeded up a previously announced capital-raising plan, hoping to benefit from recent investor demand for banks' securities.
Iran defuses homemade bomb on plane: report
Security personnel defused a homemade bomb found on an aircraft during a domestic flight in Iran late Saturday, Iranian media said, two days after a mosque bombing killed 25 people in the country's southeast.
Air France Airliner vanishes with 228 on board, search operations underway
The Brazilian air force has started search operations for the Air France airliner that disappeared as it crossed the Atlantic on its way to Paris from Brazil Rio de Janeiro
Rebel Georgian region holds election, tension builds
Georgia's rebel region of South Ossetia voted on Sunday in its first election since Russian forces saved it from being retaken by Georgian troops, but internal tensions grew over its leader's policies.
Obama, in Europe, must show diplomatic style
U.S. President Barack Obama makes a second foray into European diplomacy this week facing pressure to demonstrate his consensus-building foreign policy can produce results where his predecessor George W. Bush's go-it-alone style failed.
Bank of America hires top economist, strategy chief
Bank of America Corp's corporate and investment banking unit has hired Ethan Harris as head of North America economics and David Bianco as head of U.S. equity strategy, two of the highest-profile appointments since the acquisition of Merrill Lynch & Co.
Bomb in Baghdad market kills 4 and wounds 13
A bomb killed four people and wounded 13 in a Baghdad vegetable market Monday, police and witnesses said, in the second attack there in just over two weeks.
UN: South Sudan violence more deadly than Darfur
More people have died in tribal violence in post-war southern Sudan in recent months than in the western Darfur region plagued by ethnic and politically driven fighting, the United Nations said.
Goldman Sachs selling up to $1.9 billion in ICBC shares
Goldman Sachs was on Monday selling up to about $1.9 billion worth of shares in Industrial and Commercial Bank of China at a discount of 4 percent to 6 percent to the Chinese lender's Monday closing price, according to a term sheet.
