IBT Staff Reporter

Four firms remain in the race to buy Ford's European luxury brands Jaguar and Land Rover after India's Mahindra & Mahindra and vulture fund Cerberus pulled out, people familiar with the matter said on Monday.

Deutsche Bank's profit could be hit by up to 1.7 billion euros ($2.4 billion) due to loans that have dwindled in value as a result of the credit market crisis, sources familiar with the situation said.

Most of the impact of the global credit crunch will be felt in 2008 and the United States will be hardest hit, International Monetary Fund Managing Director Rodrigo Rato said on Monday.

Europeans' interest in watching mobile television is as tiny as cellphone screens, a new study showed on Monday, even though the industry has been buzzing about offering TV on handsets for years.

Some borrowers with poor credit got little help, even as it became clear many would struggle to keep up with their payments.

With General Motors Corp facing the prospect of its first strike in almost a decade, the $50 billion question for the struggling automaker is how badly it wants to buy peace with its major union.

After a hefty cut in interest rates and the dollar's plunge to new record lows against a surging euro, investors will closely watch data for clues on how seriously problems in credit markets are affecting the real economy. An ailing property market and weaker consumer confidence may herald signs that the credit crunch stemming from problems in the subprime mortgage market may be dragging the economy down making more interest rate cuts a near-certainty.

Even the biggest stars oblige, giving the actor and director an especially strong pull in making high-profile projects.

Halo 3, the highly anticipated video game from Microsoft Corp, won high praise on Sunday from game reviewers who gushed over the lush settings, cinematic feel and array of multiplayer features.

Nvidia Corp is rolling out a graphics microchip that will be embedded in the main collection of components that make up a personal computer, as the company goes toe to toe with Intel Corp in the integrated graphics chip market.

Gold gained on Monday and hovered near a 28-year high after a weak U.S. dollar spurred buying from investors and speculators, who believed the price could rise further as fundamentals supported the metal.

Oil prices fell on Monday, as oil and gas producers in the Gulf of Mexico restored more output after a mild storm triggered evacuation and production cuts.

Russia will seek a boost for President Vladimir Putin's bid to revive its once mighty aviation industry this week, by rolling out its first modern commercial airliner for the global market -- the Superjet.

Japan's ruling party on Sunday picked Yasuo Fukuda, an advocate of warmer ties with Asian neighbors, to be the next prime minister.

The United Auto Workers union set a Monday morning deadline for reaching a contract deal with General Motors Corp. and threatened to send 73,000 GM factory workers on strike if no deal is reached.

He wears a $15 watch, flies economy class and does not own a house or car. For years few guessed that Chuck Feeney was one of the world's biggest philanthropists, secretly giving away his billionaire fortune.

Starbucks Corp said on Monday it will give away millions of songs via downloads starting next month as it launches a wireless music service with Apple Inc.

A leading Asia-Pacific stock index hit a record high on Monday as shares took their cue from gains on U.S. markets late last week, though trading was light due to holidays in Japan, South Korea and Taiwan.

Fear is still affecting world financial markets, former Federal Reserve Chairman Alan Greenspan said in an interview released on Sunday in which he also backed France's candidate to head the IMF.

Three leading hedge funds are planning a break-up of beleaguered British bank Northern Rock , according to a newspaper report on Sunday.

The dollar dipped to a 15-year low against a basket of currencies on Monday and hovered near a record low against the euro as investors shrugged off more gripes about the single currency's strength from French officials.

China highlighted Mattel's apology over its recall of huge numbers of toys on Monday to press its claim that Chinese exports are generally safe and foreign politicians and media have unfairly hyped quality scares.

Treasuries ended the week on a more positive note on Friday, a turnaround following a selloff which began on Tuesday when the U.S. Federal Reserve cut its benchmark interest rate to give a boost to the economy, setting off some inflation concerns.

Search giant Google Inc. may invest into a joint venture that lays high-speed trans-Pacific cable under the ocean, according to a report by the Wall Street Journal.

Two private-equity firms have called off an $8 billion deal to buy high-end audio company Harman International Industries.

Wall Street will watch next week for more ripples from the Federal Reserve's half-point cut in interest rates, including any deeper drop in the dollar, and any more spikes in the price of gold and oil.

Halo'smission: rescue Microsoft Corp.'s Xbox business from six years of losses.

A steep cut in U.S. interest rates should have eased debt worries but inflation in oil and food prices is a concern.

A new magazine aims for executive women, reaching beyond traditional business publications' male focus.