IBT Staff Reporter

China had planned to announce a $10 billion infrastructure investment fund and offer credit to neighbors at a canceled weekend summit of Asian leaders in Thailand, its foreign minister said. Anti-government protestors forced the cancellation of the summit in Pattaya after they swarmed into the summit venue.

U.S. stocks fell on Monday as energy shares slid along with oil prices' sharp drop on worries that demand will fall further, while Boeing's profit warning increased caution before earnings later this week.

Oil fell toward $49 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

The chief executives of Microsoft Corp and Yahoo Inc met last week to discuss potential partnerships between the companies' Internet search and advertising operations, the technology blog All Things Digital reported on Friday.

The U.S. Treasury Department announced on Monday that Group of Seven finance ministers will meet in Washington on April 24 and follow that gathering up with a Group of 20 ministerial session.

In a move to ensure that all of the personal assets of jailed swindler Bernard Madoff are used to pay his defrauded customers, some investors filed court papers on Monday to force him into involuntary bankruptcy.

Microsoft Corp has sold more than 90 percent of its advertising inventory across its web, mobile, and video game businesses to the Discovery Channel for a one-day campaign to promote the television series Deadliest Catch, the companies said on Monday.

Boeing Co shares sank more than 6 percent on Monday as analysts said cuts in production would hurt the plane maker's earnings this year.

Britain said on Saturday it was still looking into the possibility of introducing a car scrappage scheme to boost the recession-hit vehicle industry, despite a report that the Treasury was blocking the idea.

Genworth Financial Inc shares sank 29 percent in early trading on Monday after the U.S. Treasury Department rejected the money-losing life and mortgage insurer's bid for new capital.

Diversified U.S. manufacturer SPX Corp slashed its 2009 profit forecast by about 18 percent, warning that it expects revenue to be weaker than forecast as a global downturn hurts demand for its products.

Boeing Co shares sank more than 6 percent on Monday as analysts said cuts in production would hurt the plane maker's earnings this year.

Stocks fell on Monday as energy stocks retreated on falling oil prices and Boeing Co slid after it issued a profit warning, giving investors jitters ahead of key earnings reports this week.

Sudan's leader welcomed on Monday positive signs sent by U.S. President Barack Obama to the Islamic world, striking a more conciliatory tone toward Washington, seen as an enemy of Khartoum in the past.

Iran said on Monday it would welcome constructive dialogue with six world powers, including the United States, in its clearest signal yet it will accept an invitation for talks on its disputed nuclear work.

President Barack Obama will try to establish a cooperative new relationship with Latin America this week, but U.S. resistance to change on highly symbolic issues like Cuba and immigration could undercut the effort, analysts said.

Oil fell toward $49 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

India's Tech Mahindra will pay more than $550 million for a controlling stake in Satyam Computer Services , throwing a lifeline to the fraud-hit firm and propelling itself into the top tier of Indian outsourcing firms.

King Abdullah of Jordan will meet U.S. President Barack Obama in Washington on April 21 to lobby on behalf of Arab states for a stronger U.S. role in Middle East peacemaking, palace officials said on Sunday.

The crew of a U.S. ship attacked off Somalia called on President Barack Obama to lead the battle to stamp out piracy on Monday, after U.S. forces freed the ship's captain to end a five-day hostage drama.

World oil demand will dive by a hefty 2.4 million barrels per day in 2009, the International Energy Agency said on Friday, citing the impact of prolonged economic recession on energy use.

Shares of General Motors Corp plunged 17 percent on Monday after a report that the U.S. Treasury is directing the automaker to lay the groundwork for a bankruptcy filing by June 1.

Stocks opened lower on Monday as investors paused after a five-week rally to prepare for key company earnings later in the week, and bank stocks reversed part of their sharp gains from last week.

Indonesian drilling firm PT Apexindo Pratama Duta Tbk said on Monday it planned to raise 750 billion rupiah ($68 million) from the sale of Islamic and conventional bonds next month.

Oil fell below $50 a barrel on Monday after the International Energy Agency cut deeply its forecast for oil demand, offsetting the impact of data showing Chinese crude imports rose to their second highest ever.

Iran has replaced the head of partly state-owned Iran Khodro, the Middle East's largest car maker which has a joint venture with France's Renault, Iranian media reported on Tuesday.

South Korean flat screen maker LG Display and two Taiwanese rivals are expected to report another quarter in the red, but losses in January-March likely narrowed from the previous quarter, driven by booming sales in China.

Japan said it would scrap a punitive import tariff on computer memory chips made by South Korea's Hynix Semiconductor Inc, ending a three-year trade spat between the Asian neighbours.

Edward Krudy