IBT Staff Reporter

There is a gaping hole where one of the world's tallest buildings is supposed to go up.

President Asif Ali Zardari called for national reconciliation in a Pakistan Day message on Monday, as he sought to mend fences with the opposition after defusing a political crisis by restoring the country's top judge.

BlackRock Inc, the largest U.S. publicly traded asset manager, said it would take part in the U.S. Treasury's plan to cleanse banks of toxic assets in an investment management role.

If the United States is to succeed in Afghanistan, it is going to have to engage in dialogue with Taliban-led insurgents, according to many analysts with close knowledge of the region.

A Yemeni court sentenced an Islamist to death and handed down jail sentences against two others on Monday after convicting them of seeking to work for Israeli intelligence services.

The United States met NATO allies on Monday to outline its policy review for Afghanistan after President Barack Obama said it would contain an exit strategy and greater emphasis on economic development.

The world is in a dire economic crisis, but no recovery is possible until the financial sector is cleaned up, the head of the International Monetary Fund said on Monday. It's chief said the crisis will push millions into poverty and unemployment, risking social unrest and even war, and urgent action is required.

Intel Corp, a bellwether of the technology industry, announced an overhaul its employee compensation plan, including a freeze on top salaries and an exchange of underwater stock options.

Wall Street was set for a sharply higher open on Monday after the U.S. government released details of a plan to clean up toxic assets from banks' balance sheets, a crucial component of efforts to stabilize the recession-hit economy.

Financier George Soros said the G20 summit next month must support developing nations to prevent further market turmoil.

The default of Lehman Brothers bank shows communication at clearing houses could be improved, a report from a pan-EU market watchdog said on Monday.

If water is the new oil, is blue the new green? Translation: if water is now the kind of precious commodity that oil became in the 20th century, can delivery of clean water to those who need it be the same sort of powerful force as the environmental movement in an age of climate change?

Major cities are getting a bad rap for the disproportionately high greenhouse gases they emit even though their per capita emissions are often a fraction of the national average, a new report said on Monday.

The financial crisis is a timely warning of much greater risks the planet faces from excessive focus on profit and growth, veteran British environmental campaigner Jonathon Porritt said on Saturday.

European carbon futures gained nearly two percent on Monday on stronger oil and natural gas, reversing three straight days of losses, traders said.

Tiffany & Co posted a higher-than-expected quarterly profit on Monday, but the upscale jeweler, stung by lower sales, forecast disappointing earnings for the current year, saying it has not seen any signs of a turnaround.

JPMorgan Chase & Co and Deutsche Bank AG , which hold $1.2 billion of Capmark Financial Group Inc loans, are among banks demanding collateral in exchange for loosening terms that put it at risk of default, Bloomberg said, citing people familiar with the matter.

UBS , the world's biggest wealth manager, has axed a team of six private bankers in Singapore, who were managing wealth for Turkish clients, sources familiar with the situation told Reuters on Monday.

Stock index futures pointed to a sharply higher open on Monday after the U.S. government released details of a plan to clean up toxic assets from banks' balance sheets, a crucial component of efforts to stabilize the recession-hit economy.

Tiffany & Co posted a higher-than-expected quarterly profit on Monday but was stung in the period by lower sales and said it has not seen any signs of a turnaround.

General Growth Properties Inc remained in talks on Sunday with bondholders it was trying to persuade to accept reduced terms, The Wall Street Journal reported.

UBS , the world's biggest wealth manager, has laid off a team of six private bankers in Singapore who were managing wealth for Turkish clients, sources told Reuters on Monday.

The United States offered on Monday financing for private investors to help cleanse banks of up to $1 trillion in toxic assets that are blocking lending and worsening a deep U.S. recession.

It may have been a fashion first, but supermodel Naomi Campbell has nothing to fear.

Asian stocks rose to a two-month high on Monday and high-yielding currencies advanced on the yen after details of a U.S. plan to rid banks of up to $1 trillion in toxic assets bolstered confidence in risk taking.

Dutch financial group ING is asking some company managers to give back their bonus payments for 2008, its chief executive said in an interview with a Dutch newspaper on Monday.

Suncor Energy Inc, Canada's No.2 oil company, agreed to buy rival Petro-Canada for about C$18.43 billion ($14.86 billion) to expand its oil sand reserves and create the country's biggest energy group.

Asian stocks rose to a two-month high on Monday and high-yielding currencies advanced on the yen after details on a U.S. plan to rid banks of up to $1 trillion of toxic assets improved confidence about risk taking.

EBay unit Skype on Monday plans to announce a version of its Internet calling software that connects to corporate phone systems, the Wall Street Journal said.