IBT Staff Reporter

Decision makers comparing wind power prices with apparently cheaper energy sources should take full account of the lower exposure to fuel and carbon price volatility that wind offers, a wind industry group said.

U.S. Treasury Secretary Timothy Geithner will soon propose an overhaul of the financial regulatory system that is expected to give the Federal Reserve powers to monitor broad economic risks, a Treasury spokesman confirmed on Monday.

The U.S. Internal Revenue Service has asked a judge to let it to continue to seek unpaid back taxes from Allen Stanford, the billionaire Texan accused of an $8 billion fraud by U.S. regulators, court documents show.

World stocks climbed again on Monday for their fifth session gain in a row, lifted by hopes that the U.S. economic downturn may be bottoming out and with investors seeking to take advantage of cheaper equities.

Stock futures rose on Monday, putting Wall Street on course to extend its recovery from 12-year lows reached earlier this month, after Britain's Barclays became the latest bank to buoy hopes that some stabilization may be returning in banking.

Dow Jones futures traded 0.7 percent higher by 5:45 a.m. EDT on Monday while S&P 500 futures rose 1.1 percent and Nasdaq futures gained 0.6 percent, pointing to a higher opening on Wall Street.

The U.S. Federal Reserve this week is likely to restate a vow to do whatever is needed to battle the nation's severe recession but no new steps are expected as it keeps its focus on plans already in the works.

World stocks climbed again on Monday for their fifth session gain in a row, lifted by hopes that the U.S. economic downturn may be bottoming out and with investors seeking to take advantage of cheaper equities.

Switzerland's UBS, the world's largest wealth management company in terms of assets, proposed three new candidates to its board of directors on Monday.

British bank Barclays Plc confirmed it had discussed selling its iShares unit, sending its stock sharply higher on Monday on hopes it will be able to avoid issuing new shares to bolster its capital.

A $1 billion proposal to build the first massive U.S. offshore wind-power farm has moved a step closer to overcoming permit requirements in Massachusetts, where it faces opposition from some influential residents.

Dow Jones futures traded 0.7 percent higher by 0945 GMT (5:45 a.m. EDT) on Monday while S&P 500 futures rose 1.1 percent and Nasdaq futures gained 0.6 percent, pointing to a higher opening on Wall Street.

Senators from two Northeast states urged U.S. Energy Secretary Steven Chu to commit $400 million from the economic stimulus package to support an advanced wind energy program, especially for offshore wind projects.

Asian stocks struck a one-month high on Monday as reassurances over the health of the U.S. banking industry sparked a broad recovery in investor appetite for risk, while safe-haven government bonds also gained on hopes for more central bank buying.

U.S.-based outsourcer iGate Corp's bid for fraud-hit Satyam Computer Services Ltd will be well short of the current market price, its chief executive told a television channel on Monday.

U.S. Treasury Secretary Timothy Geithner will soon propose an overhaul of the financial regulatory system that is expected to give the Federal Reserve powers to monitor broad economic risks, a Treasury spokesman confirmed on Monday.

Asian stocks struck a one-month high on Monday as reassurances over the health of the U.S. banking sector sparked a broad recovery in investor appetite for risk, while safe-haven government bonds also gained on hopes for more central bank buying.

Oil fell over 3 percent to below $45 a barrel on Monday as traders questioned whether OPEC's decision to enforce better compliance with previous curbs rather than make new production cuts was enough to offset eroding global demand.

Shabana Ahmadzai, 19, and Sara Bahmanpour, 20, like to hang out on a social network a fraction the size of Facebook. Their portraits enhanced by makeup or anime images, the women are logging on at Muxlim, a lifestyle community for Muslims.

Australia on Monday extended its review of Chinese aluminum maker Chinalco's $19.5 billion investment in global miner Rio Tinto, as major Rio shareholders voiced growing concern over the deal.

Bailed out insurance giant American International Group Inc used $107.8 billion dollars from September 16, 2008 to the end of the year to fulfill obligations to customers, revealing for the first time the names of the firms receiving funds.

Federal Reserve chief Ben Bernanke said that the current economic recession could “probably” end this year if the government’s plans to boost the economy work.

Medecins Sans Frontiers (MSF) aid workers who were kidnapped on Wednesday were freed on Saturday evening; a Sudanese guard who was kidnapped along with them was not released.

HMV was the first to land in November 1990, with an East Coast incursion, followed soon by Virgin's entry on the West Coast and W.H. Smith's focus on the country's heartland malls.

Federal investigators are looking to freeze the assets of Ruth Madoff, the wife of jailed swindler Bernard Madoff, because of fears she might flee the country or otherwise spirit away some of the $93 million in her name, the New York Post reported on Sunday, citing sources.

Companies and celebrities ranging from Arsenal football club to actress Scarlett Johansson filed a record number of cybersquatting cases in 2008 to stop others from profiting from their famous names, brands and events, a United Nations agency said on Sunday.

Federal Reserve Chairman Ben Bernanke suggested in an interview to air on Sunday that the U.S. recession could last through the year and said the biggest risk was that the political will needed to fix the fractured financial system could be lacking.

Australia's Foreign Investment Board will extend its review of top Chinese aluminum maker Chinalco's $19.5 billion investment in global miner Rio Tinto , a source briefed on the discussions said on Monday.

U.S. President Barack Obama will announce steps on Monday to make it easier for small business owners to borrow money, using $730 million in stimulus funds to cut lending fees, boost loan guarantees and expand other programs, officials said.