IBT Staff Reporter

Dollar fell against the Euro on Monday due to the unexpectedly weak result from the Bank of America which dampened the investors in the banking sector and also renewed concerns about the US economy.

Sterling weakened against the dollar as weak UK house price data reinforced the concerns about the economy.

By Jon NadlerMetals prices remained within fairly tight ranges overnight as little demand emerged from Asia around the $910 level. The US dollar once again came very close to the critical 1.60 mark against the euro, while crude oil scaled new peaks above $118 spurred by labour problems in the UK and...

By Bill BonnerAmericans could reap without planting. They could consume without earning. They could invest without saving, and spend as much as they wanted without running out of money

By Julian D W PhillipsA derivative is a paper instrument founded on an asset. Its value is derived from that underlying asset, and it can be a purchase or sale of a commodity in the future

By Jon NadlerCommodities are in their seventh years of gains, with oil rising above $117 a barrel for the first time and rice rallying for a sixth day

Citigroup may need to suspend or cut its dividend to shareholders as the company makes moves to regain profitability in the wake of heavy losses linked to the mortgage and credit markets, according to an analyst.

Nestle SA said its first quarter sales rose 6 percent to 25.7 billion Swiss francs or $25 billion as the company rose prices of its products.

Air France-KLM, the largest airline in the world by sales, dropped its 138 million euro ($220 million) bid for Italy's flagship carrier Alitalia on Monday, following failed talks with union leaders and uncertainty about the Italian government's position regarding the sale.

The FTSE 100 share index was almost unchanged as Monday came to an end, with the index going down only 3.5 points to 6,053.0 (down 0.06 per cent).

Scottish and Southern Energy Plc (SSE) announced on Monday that it had bought a 21 per cent stake in Logan Energy Limited at a cost of £375,000 plus goodwill brought to the new business.

Marks and Spencer Group Plc (M&S) has said it will be entering into a joint venture with Reliance Retail, with the aim of establishing M&S as a major retail brand in India.

Rentokil Initial Plc has said that its City Link parcel delivery business has continued to experience difficulties in the first quarter of 2008.

The British Retail Consortium (BRC) has released a new survey suggesting that consumers are switching from credit cards to cash, thanks to the slowdown in the economy.

Copper prices closed with losses on Monday in New York as fears that record highs above $4 a pound posted on last week trading, could decrease Chinese demand.

New York Mayor Michael Bloomberg, who is also the founder of financial news and data company Bloomberg L.P., denied reports released Monday that he is interested in buying The New York Times.

McDonald's Corp. expects to show a quarterly profit on Tuesday buoyed by growing global as sales as investors watch closely to see how the U.S. economic downturn has affected the biggest food retailer by revenue.

Chip maker Texas Instruments Inc. on Monday reported a 28 percent increase in first-quarter profits but its outlook for the second quarter fell short of Wall Street expectations and said it has experienced some slowing in sales of its chips for cell phones.

Ernst & Young, one of the world's largest professional services firms, said it will merge its European partnerships and practices in 42 countries to form a single entity.

The world's biggest toy makers posted contrasting quarterly results on Monday, with Hasbro Inc. reporting strong profit, while rising costs and legal expenses left Mattel Inc's with a first quarter loss.

China's stock market closed slightly higher on Monday as the China market watchdog issued new policy for share trading.

Treasuries fell on Monday on concerns that investors will move away from buying government debt as expectations for additional interest rate cuts by the Federal Reserve diminish.

Corn and soybeans declined on concern that drier weather will drain fields in the U.S. Midwest, enabling farmers increase planting of crops.

The dollar fell against the euro on Monday after Bank of America reported a bigger than expected plunge in profit and a European Central Banker dashed hopes for a euro interest rate cut soon.

The Bank of England announced an unprecedented $100 billion ( £50 billion) plan to allow banks to swap mortgage-backed securities for British Treasury bills in a bid to bail out Britain's ailing banking system.

Gold futures closed with a subtle gain on Monday, as a drop in the dollar revived demand for the precious metal as a hedge against losses in the U.S. currency.

The first South Korean astronaut and other two space crew members are safe after a tough return to the earth and very rough landing.

India's fourth largest IT services provider Satyam Computer Services on Monday reported a 18.6 percent surge in net profit for the quarter ended March 31, 2008, but failed to beat market forecast.

AT&T and network equipment maker Cisco Systems Inc will start selling a high-tech video conferencing system together later this year aiming at boosting their sales to multinational corporate clients.