IBT Staff Reporter

Stock index futures pointed to a lower open on Monday with investors cautious ahead of the latest round of earnings and after Bank of America's results relied heavily on one-time items, while credit quality deteriorated markedly.

Mitsubishi UFJ Financial Group , Mizuho Financial Group and Sumitomo Mitsui Financial Group have submitted bids to buy the Japanese retail brokerage unit of Citigroup Inc in a deal that could raise about 600 billion yen ($6 billion), five people with direct knowledge of the sale said.

Hasbro Inc , the No. 2 U.S. toy company, posted a lower quarterly profit that met Wall Street expectations on Monday, and said that the worst may be behind it.

Soft-drink maker PepsiCo offered about $6 billion on Monday to buy the shares it does not already own in its two largest bottlers, Pepsi Bottling Group and PepsiAmericas, to cut costs and secure control of its brands as growth switches to new non-carbonated drinks.

Bank of America Corp said on Monday first-quarter profit more than doubled, as higher revenue from the purchase of Merrill Lynch & Co and a one-time gain from selling shares of a Chinese bank offset a surge in credit losses.

Superconductor specialist Zenergy Power said on Monday it had been contracted by Con Edison to build and test a Smart Grid device to improve the stability and reliability of New York City's electrical system.

GlaxoSmithKline Plc is to buy privately owned Stiefel Laboratories Inc for up to $3.6 billion to diversify its business by adding treatments for acne, dermatitis and other skin complaints.

World stocks steadied on Monday, holding off last week's three-month high, while government bonds rose as investors grew cautious before a series of first-quarter company results due this week.

General Motors Corp is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.

Fiat's chief executive has returned to the United States for talks as pressure builds to seal a partnership deal with Chrysler before the end of the month, sources at the Italian car maker said on Monday.

Asian stocks edged up on Monday, holding near a six-month peak and withstanding an early bout of profit-taking as investors eyed a slew of corporate earnings reports around the world this week.

A South Korean court acquitted a blogger on Monday of spreading false information, in a case that triggered debate about freedom of speech in cyberspace and critics said was only launched because his economic doom postings angered authorities.

Capital spending by U.S. firms was showing tentative signs of improvement and the pace of layoffs slowing a bit, an industry survey showed on Monday, further evidence the 16-month old recession was abating.

The new chairman of global miner Rio Tinto said he would meet major shareholders in London next month, and would be prepared to scrap a $19.5 billion tie-up with China's state-owned Chinalco if they looked certain to oppose it.

Strong banks will be allowed to repay federal bailout funds, but only if such a move passes a test to determine whether it is in the national economic interest, the Financial Times reported on Sunday, citing a senior U.S. administration official.

Kogi, a duo of Korean BBQ-inspired taco trucks in Los Angeles, has Tweeted its way to international stardom and is inspiring restaurateurs seeking new ways to tempt diners during a deep recession.

Capital spending by U.S. firms was showing tentative signs of improvement and the pace of layoffs slowing a bit, an industry survey showed on Monday, further evidence the 16-month old recession was abating.

Shares of Toshiba Corp tumbled 6 percent on Monday after media reports that it would raise $5 billion in capital to shore up a balance sheet battered by steep losses in the chip market.

American International Group Inc has delayed filing its annual proxy statement as it weighs a potential reshuffle of its board, the Wall Street Journal said, citing a person familiar with the matter.

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.

British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned U.S. skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday.

Obama administration officials have determined they can avoid asking Congress for more bank bailout funds by converting existing loans to the largest U.S. banks into common stock, The New York Times reported on Sunday.

Energy giant Exxon Mobil Corp beat discount retailer Wal-Mart Stores Inc to regain the top of Fortune magazine's list of the 500 biggest publicly traded companies, based on revenue.

Global miner Rio Tinto defended itself on Monday against shareholder criticism of its proposed $19.5 billion tie-up with China's state-owned Chinalco, its rejection of a takeover bid by BHP Billiton and its costly 2007 purchase of Alcan.

Shares of Toshiba Corp dropped 6 percent on Monday after weekend media reports of a $5 billion capital raising plan triggered dilution concerns.

General Motors Corp is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.

General Motors Corp could give away a controlling stake in its European unit as it decides whether to file for bankruptcy, the Financial Times newspaper reported on Monday.

GlaxoSmithKline PLC is close to a deal to buy U.S. skincare specialist Stiefel Laboratories for about $3 billion, the Wall Street Journal said on its website on Sunday, citing unnamed sources.

Parmalat SpA , best known to many U.S. investors for its 2003 bankruptcy and accounting scandal, may benefit as the market again focuses on its boring but steady dairy business, Barron's said Sunday.