IBT Staff Reporter

Yahoo rejected the unsolicited $44.6 billion takeover offer from Microsoft on Monday, saying the bid undervalued the company, putting pressure on the world's largest software company to sweeten the bid.

Treasuries rose on Monday as investors sought safer investments after another sign of trouble in U.S. financial markets.

Yahoo rejected the unsolicited $44.6 billion takeover offer from Microsoft on Monday, saying the bid undervalued the company, putting pressure on the world's largest software company to sweeten the bid.The following is the email that Jerry Yang, Chief Executive Officer of Yahoo issued to employees:

The yen rose against the dollar and euro on Monday as stocks fell amid inflation concerns and continuing problems in financial markets.

EU Commissioner Viviane Reding will call on mobile phone operators in the EU to cut the cost of texting and internet use for customers who are abroad. Should they fail to comply operators could face EU regulation.

In December house prices rose by 0.4 per cent on the previous month, according to the latest figures from the Department for Communities and Local Government (DCLG).Despite this the figures still point towards a slow down in house price growth. The latest statistics said that the annual rate of house price inflation was 9.1 per cent – down from 9.7 per cent in November.The latest figures add to evidence which suggests that the housing market boom may be coming to an end. Last year top mo...

The Office for National Statistics (ONS) has released figures showing that output price annual inflation for all manufactured products increased by 5.7 per cent in January. The ONS has also said that input price inflation rose from 12.2 per cent in December to 19.1 per cent in January.The ONS said that month by month, the output prices measure for all manufactured products increased by 1.0 per cent in January – mainly due to rises in other manufactured products.The 'narrow' output prices ...

Representatives of the Freight Transport and Road Haulage Associations (FTA and RHA) will be meeting with the Chancellor of the Exchequer Alistair Darling today to discuss scrapping a two pence per litre increase on fuel duty.The FTA and RHA represent operators of over 300,000 lorries and in a joint letter to the Daily Telegraph, called for the two pence increase to be scrapped. The letter was signed by 11 major groups representing industry and motorists.The letter said, At 50.35p per l...

Platinum prices hit yet another new high on Monday after the world's biggest platinum producer Anglo Platinum , said its output will drop again this year as a result of the current energy shortage in South Africa. Gold also gained.

U.S. stocks rose on Monday after American International Group Inc. said it overstated the value of some financial assets boosting fresh concerns over the financial sector.

Nokia unveiled new multimedia mobile phones and a new navigation software, on Monday during the on-going World Mobile Congress in Barcelona, Spain. The new navigation software, Map 2.0 provides navigation to pedestrians.

Citigroup and Goldman Sachs are the most exposed to further writedowns from leveraged loans in the first quarter, as the value of loans and bonds created to finance leveraged buyouts plunges, Bank of America said.

The first phones to be loaded with Google's Android mobile software have been unveiled at the annual Mobile World Congress in Barcelona.

The first mobile phones fitted with Google's Android software platform made their debut at an industry trade show on Monday, a key advance in the struggle to bring the power of desktop computing to handsets.

Yahoo Inc on Monday rejected as too low Microsoft Corp's unsolicited $41.4 billion takeover offer, a move viewed by Wall Street as the first salvo in an effort to get the software maker to raise its bid.

American International Group Inc, the world's largest insurer, on Monday disclosed that its auditors questioned the company's internal controls over its valuation of derivatives, sending its shares down more than 11 percent.

Platinum prices hit a record high for the eighth straight trading day on Monday on worries power problems in top producer South Africa would hit output badly.

The euro edged up against the dollar on Monday after tough talk from monetary policy-makers dented expectations for lower euro-zone interest rates while the yen climbed broadly as investors cut back on risky trades.

Yahoo Inc on Monday rejected as too low Microsoft Corp's unsolicited takeover offer, currently valued at $42 billion, putting the ball back in the software giant's court to pursue a deal. In a statement, Yahoo said its board unanimously concluded the proposal was not in the best interests of its shareholders.

Spanish telecoms group Telefonica SA expects to raise its stake in China Netcom Group Corp to 10 percent in coming months, Chairman Cesar Alierta told Reuters on Monday.

When Meera Sanghavi was allotted 16 shares of Reliance Power in India's biggest-ever initial public offer, it seemed a windfall for the middle-class housewife, who hoped to double her money in less than a month.

General Motors Corp CEO Rick Wagoner boasts about the number of markets where the U.S. automaker is number one. Toyota Motor Corp President Katsuaki Watanabe emphasises where his company trails.

A 600-year-old gate in central Seoul listed as South Korea's number one national treasure and the country's landmark symbol has been destroyed, possibly by an arsonist, police said on Monday.

Foreclosures were once only for the most aggressive investors but ordinary home buyers can now join in.

Motorola Inc and Nortel Networks Corp are in talks to combine their wireless infrastructure units, the Wall Street Journal reported, quoting people familiar with the situation.

Samsung and LG Electronics on Monday showed new phones using free Linux software from Mobile Linux foundation, which said in total 18 phones from seven vendors would use its software.

Defense Secretary Robert Gates said on Monday he backed a brief pause in U.S. troop reductions from Iraq once an initial pullout of five combat brigades has been completed in July.

Friends and family of actor Heath Ledger gathered in Perth for a private funeral service on Saturday followed by a spontaneous splash in the West Australian surf.

A second trader questioned about massive losses at Societe Generale was released without charges by authorities on Saturday.