IBT Staff Reporter

Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.

Oil jumped more than 3 percent to over $47 a barrel on Monday on speculation producer group OPEC may cut output again and a naval incident between the United States and China, the world's top oil consumers.

Stocks fell in choppy trade on Monday as gains in the energy and banking sectors were more than offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

Oil rose more than $1 to near $47 a barrel on Monday on speculation OPEC may cut output again when it meets on Sunday.

Wells Fargo & Co shares as much as 24.3 percent after the billionaire investor Warren Buffett said the fourth-largest U.S. bank will emerge better than ever from the nation's credit crisis.

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The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

NASA has approved a new mission for Discovery's STS-119 to the International Space Station after reviewing its potentially hazardous hydrogen flow control valve.

Oil rose above $47 on Monday after renewed buying on speculation OPEC may cut output again at its Sunday meeting.

The Dow industrials and the S&P rose modestly while the Nasdaq dipped in choppy trade on Monday as gains by the energy and banking sectors were offset by a drop in pharmaceuticals after Merck's proposed $41 billion takeover of Schering-Plough .

Google has agreed to settle an intellectual property claim brought by serial inventor Judah Klausner, who has won settlements in the past from Apple, Skype and LG Electronics, Klausner said on Monday.

Human Genome Sciences' drug to treat chronic hepatitis C met the main goal in a late-stage trial, but failed to show numerically better efficacy compared to standard-of-care, raising questions about the drug's adoption and sending shares crashing to an all-time low.

Chartered Semiconductor, the world's third largest contract chip maker, said it plans to raise $300 million through a rights issue to shore up its finances amid a deep industry downturn.

MANILA - Manila Electric Co (Meralco) said companies allied with the country's dominant telecommunications firm PLDT had acquired a more than 10 percent stake in Philippines' biggest power retailer.

McDonald's Corp posted a 1.4 percent rise in February sales at restaurants open at least 13 months, as strength in the United States helped offset the impact of the stronger dollar.

After selling his online ad company Tacoda to AOL for a reported $275 million a year-and-a-half ago, Dave Morgan figured he'd start to focus on backing other entrepreneurs.

The global economy may be nearing a turning point although financial markets are still underestimating the potential for a recovery, top central bankers said on Monday.

Zimbabwean Prime Minister Morgan Tsvangirai on Monday ruled out foul play as the cause of a car crash that injured him and killed his wife, easing concerns that it would increase tensions in the new government.

The killing of two soldiers by dissident republicans in Northern Ireland will not be allowed to derail the peace process in the British-ruled province, Prime Minister Gordon Brown said on Monday.

Iran said on Monday the United States was failing in Afghanistan and that a new approach was needed, four days after Washington said it would invite Tehran to an international conference to discuss its neighbor.

Palm Inc will exercise its right to remarket shares held by private equity firm Elevation Partners, in an attempt to bolster its capital ahead of the launch of its new Pre smartphone.

Hamas's popularity among Palestinians has risen sharply since a three-week Israeli war in January devastated the Islamist-ruled Gaza Strip, an opinion poll released Monday showed.

Syria President Bashar al-Assad said in an interview published on Monday that a peace deal with Israel was possible but that normal relations would only be possible if Israel ended its conflict with the Palestinians.

Stocks rose in choppy trade on Monday as surging oil prices lifted shares of energy companies, while positive broker comments spurred a rebound in technology bellwethers such as Microsoft Corp after a plunge on Friday.

Oil rose more than $3 on Monday after renewed buying on speculation OPEC may cut output again at its Sunday meeting as the United States market came into play.

North Korea on Monday said it had put its armed forces on full combat readiness in response to the start of annual military exercises by U.S. and South Korean troops, raising tension on the divided peninsula.

The European Union was set to back an International Monetary Fund call for $500 billion to fight the financial crisis on Monday as world stocks sank toward 14 year lows in a broad-based sell-off.

McDonald's Corp posted a 1.4 percent rise in February sales at restaurants open at least 13 months as strength in the United States helped offset the impact of the stronger dollar.

Nokia Oyj is betting a wider and more tailored offering of media and software for its phones will prove attractive when its Ovi online store opens in May and goes head-to-head with Apple Inc's App Store.