IBT Staff Reporter

Wall Street expects a two-day Federal Reserve meeting this week to end with another cut in interest rates as financial firms struggle with losses tied to subprime mortgages and related securities.

When the Iraqi National Symphony Orchestra (INSO) holds a concert in Baghdad, organizers don't like to advertise: in fact they would prefer as few people as possible know about it.

Find the smiling face on the computer screen and reduce stress. Researchers at McGill University in Montreal say that tests have shown that doing just that for five or 10 minutes helps cut stress and boosts confidence.

Walgreen plans to put kiosks that can make DVDs of popular movies in drugstore photo departments next year, using a new system that would increase selection while avoiding piracy.

Mexico's state-owned oil company Pemex was shutting down about one-fifth of its daily output on Sunday due to bad weather, but said it expects to quickly resume output within days.

French conglomerate Safran said it had received a 383 million euro ($550 million) offer from U.S private equity firm the Gores Group for its Sagem Communications arm.

Merck & Co. Inc.shares could rise to $70 by 2010 if the drugmaker continues to deliver on its promise of double-digit earnings growth, Barron's said in its October 29 edition.

Workers represented by the United Auto Workers ratified a four-year contract with automaker Chrysler LLC, the union said on Saturday, capping a close-fought battle that had threatened to scuttle the labor pact.

Shares of Nissan Motor Co surged 12 percent on Monday, poised to post their biggest one-day rise in 7 years after Japan's No. 3 automaker posted a surprise gain in quarterly profit on a pick-up in global sales.

Asian stocks rose to a fresh life high on Monday as investors bet there will be a U.S. interest rate cut this week, which sent the dollar to a record low against the euro and a basket of major currencies.

As Merrill Lynch & Co Inc's board deliberates the fate of Chairman and Chief Executive Stan O'Neal, a leading contender for the job on Sunday said he is not aware of being a candidate.

Oracle Corp withdrew a $6.7 billion bid for business software maker BEA Systems Inc on Sunday, setting the stage for a proxy battle between activist investor Carl Icahn and the BEA board. Icahn is BEA's biggest shareholder with a 15 percent stake.

Turkish troops killed 20 Kurdish guerrillas on Sunday in a major operation against separatist rebels in eastern Turkey, army sources said.

Argentine first lady Cristina Fernandez de Kirchner rode an economic boom and her husband's popularity to victory in a presidential election on Sunday to become the country's first elected woman leader.

Workers represented by the United Auto Workers voted to ratify a four-year contract with automaker Chrysler LLC, the union announced on Saturday, capping a close-fought ratification battle that had threatened to scuttle the labor pact.

Delegations gathered in Libya on Saturday to launch talks to end 4-1/2 years of conflict in Sudan's Darfur region but the absence of key rebels cast doubt on whether negotiations could produce any meaningful deal.

Credit crunch or not, the allure of stellar growth and profits remains for investors.

Soaring prices have not yet become an emergency, with officials allowing the free market to work.

Scenes of anguish and hope play out as blazes which destroyed 2,000 homes begin to die down.

Investors in Countrywide Financial Corp. breathed a sigh of relief on Friday after the biggest U.S. after the biggest U.S. mortgage lender predicted it would regain profitability in the coming quarter and in 2008 after posting its first quarterly loss in 25 years.

Retail stocks jumped on Friday, with Family Dollar Stores, and Big Lots among the gainers.

U.S. stocks rose on Friday of optimistic profit forecasts from software giant Microsoft and mortgage lender Countrywide Financial.

Merrill Lynch, the world’s largest brokerage, saw its stock price soar on Friday amid speculation that its Chairman and Chief Executive Stan O’Neal would be forced out and that the company could be acquired.

In the weeks after Wall Street returned from the Labor Day holiday, the credit market picture appeared to brighten, with loans moving through the system and banks reporting numbers not nearly as bad as some feared.

As fallout from the summer credit crunch spreads, Wall Street faces more job cuts -- and smaller bonuses. Investment banks have announced thousands of jobs cuts as investors stopped snapping up risky corporate loans, mortgage securities and complex asset-backed securities.

Stocks rallied on Friday after Microsoft's upbeat outlook boosted the three major indexes and a profit forecast from lender Countrywide Financial buoyed the struggling financial sector. Stocks extended their gains as the weekend approached, in a sign investors are expecting the Federal Reserve to cut interest rates when it meets next week, analysts said.

Today in the UK, Delta Two, the Qatar based investment firm trying to takeover supermarket chain J Sainsbury’s, was given a deadline of 8th November 2007 to make a bid.The deadline was set by the Takeover Panel Executive at the request of both Sainsbury’s and Delta Two who both “agree that it is in the best interests of shareholders and colleagues to bring this process to a conclusion as soon as practicable”, according to a joint statement.Delta Two has made a 600p per share offer for Sainsbury’s, however in order to follow through with the offer, the company still needs an addition £500 million of extra equity.In a statement today the two parties said that Delta Two was trying to secure the extra funding from the Qatar Investment Authority and that as a result, “there can be no certainty that such funding will be forthcoming and, therefore, no certainty that an offer will be made.”Delta Two originally approached Sainsbury’s in July with an offer, however following the credit crunch the Sainsbury family, who own 18% of the shares were concerned that the offer had too much debt.Sainsbury’s is the third largest supermarket chain in the UK.

China's central bank said yesterday that it is necessary to appropriately increase the regulation and control of its monetary policy, improve the formation mechanism of RMB exchange rate, and promote the RMB capital account to be convertible stably.

Airbus A380 showcased its interior cabin in the Shanghai Pudong International Airport yesterday and carried nearly 150 guests for the one hour's demonstration flight.