IBT Staff Reporter

149491-149520 (out of 154954)

Apple's iPhone can only help rivals in Europe

Major handset vendors have much more to gain than to lose from the buzz Apple Inc's coveted iPhone will create when it arrives in European stores for the key shopping season ahead of Christmas.

Social networking site tops in London, Toronto

It could be due the climate, the large number of students or the ethnic mix of the people who live there, but whatever the reason London and Toronto have the highest number of Facebook users.

Oil hits record above $80

Oil soared to a record above $80 a barrel on Monday on worries that global energy supplies could shrink to critical levels this winter heating season due to strong demand growth.

Hartford CFO says insurer has $640 mln surplus

Hartford Financial Services Group Chief Financial Officer David Johnson said on Monday the insurer will generate $140 million of surplus in the second half of 2007, giving it a total of $640 million available.

Clinton proposes universal health care plan

Democratic presidential contender Hillary Clinton, whose first attempt at a health care overhaul fell flat 13 years ago, unveiled a broad proposal on Monday to require health insurance for all Americans and make it more affordable.

Greenspan: Recession risk up

Risks of a recession have increased, but the Federal Reserve must be cautious in supporting the economy because global forces that have kept inflation in check are receding, former Fed Chairman Alan Greenspan said on Monday.

Hartford to sell life products to business roster

Hartford Financial Services Group Inc will start selling life and retirement products to small business owners who already buy its commercial insurance, and on Monday named the former head of its Japanese unit to run the operation.

GM workers on the job as contract talks resume

Negotiators for the United Auto Workers union and General Motors Corp were back at the bargaining table on Monday after breaking in the early hours of the day, as thousands of GM factory employees went to work without a new contract.

Al Gore collects interactive Emmy for Current TV

Six months after grabbing Oscar glory for his eco-documentary An Inconvenient Truth, former Vice President Al Gore collected an Emmy Award on Sunday for his fledgling youth-oriented cable network, Current TV.

O2 agreed UK revenue sharing deal for iPhone

Spanish-owned mobile phone operator O2 secured a deal to sell the iPhone in Britain after agreeing to give Apple 40 percent of the revenues it will make from customers using the device, the Guardian said.

Oil back up near $80

Oil shrugged off early losses to head back near $80 on Monday, within sight of its record high, as the market focused on a Federal Reserve meeting that is widely expected to cut interest rates.

Wall Street falls on global credit concerns

Stocks fell on Monday as savers demanded their money back from embattled British bank Northern Rock, adding to global credit concerns before an expected U.S. interest rate cut this week.

ABN AMRO says on track for 2007 EPS target

Dutch bank ABN AMRO NV reiterated its 2007 earnings per share target of 2.30 euros ($3.19) on Monday despite current market turmoil and said it has very limited exposure to the subprime market.

All options open to save Northern Rock -UK govt

All options will be considered to save embattled bank Northern Rock, British finance minister Alistair Darling said on Monday as fears of a crisis threaten to spoil Prime Minister Gordon Brown's first year in power.

Microsoft suffers decisive EU antitrust defeat

Microsoft suffered a decisive antitrust defeat in Europe on Monday, sending its shares down 2 percent in pre-market trade. A European Union court backed a European Commission ruling that Microsoft, the world's largest software maker, illegally abused its market power to crush competitors.

EU seeks big drop in Microsoft market share

Europe's top competition regulator said on Monday she wanted to see a significant drop in the market share of Microsoft after the U.S. software giant lost an appeal against an EU antitrust ruling.

Greenspan: Housing impact is "critical question"

Former Federal Reserve Chairman Alan Greenspan said on Monday he is concerned about the fallout from a U.S. housing bubble but added it's unclear whether that might cause a broader upheaval in the global economy.

Food industry group to propose safety rules: report

The Grocery Manufacturers Association, the industry's largest trade group, plans to unveil on Tuesday a proposal to increase U.S. federal oversight of imported food and ingredients, the Wall Street Journal reported in its online edition on Monday.

Merrill Lynch's subprime unit cutting jobs

Merrill Lynch & Co. Inc.'s $1.3 billion bet on subprime lending hit a sour note on Monday, when the world's largest brokerage confirmed job cuts at its First Franklin Financial Corp. unit.

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