IBT Staff Reporter

By Julian D W PhillipsIf interest rates fall to the extent that the housing market recovers, foreclosures cease on those who hold mortgage bonds, whose rates are set to climb, are moved to a healthy zone the market will recover its confiden

Commodity Online NEW YORK: Gold futures on Monday managed a modest gain when long liquidation pressure offset much of the safe haven strength that earlier pushed it to record highs.

By Dan Denning The biggest losers will be consumers everywhere. Global monetary policy is entering a new, highly accommodating phase.

The U.S. Supreme Court on Monday accepted a bid by the Federal Communications Commission to overturn a Fox Television indecency case the agency lost in lower courts against News Corp.

Japanese Prime Minister Yasuo Fukuda has nominated former vice finance minister Koji Tanami to head up the Bank of Japan early Tuesday morning.

Sony's PlayStation 3 surpassed Microsoft's Xbox 360 last month as the videogame console sales increased by 19 percent.

Nintendo's Super Smash Bros. Brawl has sold more than 1.4 million copies in the U.S. in just one week, making it the fastest selling game in the game company's history.

U.S. Crude Oil prices dropped more than $4.0 a barrel on Monday on growing concerns about the economic outlook in the United States.

Access to YouTube in China was cut on Sunday after footages of the bloody protests in Tibet appeared on the site.

Record rise of crude oil and gold prices in global markets and growing concerns over the worsening credit crisis in the US triggered a Sensex collapse on Monday, allowing the benchmark 30-share index of the Bombay Stock Exchange (BSE) to hit a six month low and close below the psychological 15,000 level.

Television stations owned by CBS Corp announced Monday the launch of the CBS Local Ad Network, a revenue-sharing ad network that targets social media Web sites and blogs on a local basis.

Natural gas dropped on Monday as crude oil prices declined and on forecasts for mild weather that will reduce demand for the heating fuel.

Treasuries rose on Monday after the Federal Reserve moved to add liquidity to the credit and financial markets with a pair of moves over the weekend and aid for struggling investment bank Bear Stearns.

Soybeans and corn declined on Monday after falling equity markets and a credit crunch prompted investors to sell commodities to raise cash.

Japan stocks plunged over 3 percent Monday as the Yen gained strength against the dollar and soaring fears of U.S. credit turmoil.

The dollar fell to a twelve year low against the yen and recovered from a new low against the euro on Monday after the Federal Reserve's to cut its discount lending rate and JPMorgan's bargain buy of imperiled investment bank Bear Stearns Cos.

Gold futures hit a new record on Monday of nearly $1,034 an ounce before edging back down after the Federal Reserve cut the discount rate by a quarter of a percentage point after JP Morgan Chase & Co. agreed to buy the troubled investment bank, Bear Stearns.

U.S. stocks dropped at the open on Monday after the Federal Reserve cut its discount interest rate at an emergency meeting and JP Morgan Chase & Co. agreed to buy Bear Stearns Cos. for $2 a share, fueling fears that the global credit crisis is spiraling out of control.

Michael Jackson has reached a confidential agreement with Fortress Investment Group to retain ownership of his 2,500-acre Neverland ranch in Los Olivos, Calif., northwest of Santa Barbara, according to reports.

Clear Channel Communications Inc completed the sale of its television group to Newport Television LLC for $1.1 billion, the U.S. radio operator said on Friday.c

Shares of Bear Stearns Cos. fell nearly 50 percent on Friday after the Federal Reserve, through JPMorgan Chase & Co, gave the struggling investment bank an emergency loan.

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The ban of a controversial video-game has been lifted in Europe today ending a long standing battle between game maker Rockstar and the British Board of Film Classification.

Apple has called its Apple TV product a hobby while its iPod and computer products have served as its main growth engines, however new surfaced patents could morph the product into a game-changer one analysts contends.

Microsoft and Yahoo senior executives met on Monday this week and discussed about Microsoft's takeover for the internet giant according to published reports.

U.S. crude futures fell from a record high on worries about a weaker demand in the United States, the top consumer of oil in the world.

Doctors responsible for treating actor John Ritter on Friday before he died in 2003 from a torn aorta, have been cleared of negligence after receiving a $67 million wrongful death lawsuit.