IBT Staff Reporter

A proposed class action lawsuit filed against leading coffee retailer Starbucks on Monday by an independent coffee house owner claims that that the company abuses its monopoly position in the specialty coffee market to eliminate smaller competitors by using various means, including cluster bombing store tactics.

If only James Hardie Industries could pay compensation as fast it doubled its own directors' pay, disgusted victims advocate Bernie Banton lamented.

Oil prices fell below $US60 a barrel for the first time in six months on Monday amid signs of growing petroleum inventories and after BP said it had permission to resume working the eastern half of Alaska's Prudhoe Bay oil field.

Hard drive manufacturer Seagate Technology announced a 750 gigabyte drive on Monday, which will be shipping to digital video recorders (DVR) and digital entertainment device manufacturers for the next generation of DVRs.

Sony's next-generation playstation game console has been plagued with a number of delays, high-prices, and technical difficulties, however, the past weekend at this years Tokyo Game Show, the company gave gamers, developers, and investors a taste of what's to come.

The federal reserve bank issued a statement on Monday noting that the volume of syndicated credit has risen rapidly reflecting a rise of 15 percent in merger and acquisition activity over the past year while quality control has declined slightly over the last year.

Online markets can build more profitable business relations between China and Middle the East, told the CEO of a leading online exchange from the Middle East to an audience in Beijing at the China Internet Conference 2006.

UAE-based Abu Dhabi National Oil Company (ADNOC) announced on Monday that it would introduce a new cheaper fuel on October 8.

Young teenage consumers between the ages of 13 and14 not only spend $600-billion each year on products, they also talk often to their friends about the brands they buy, according to a new study.

AOL is being sued for its inadvertent leak of member search data this summer, accused of violating privacy as well as deceptive business practices.

Mercedes-Benz said on Monday it plans to offer its first BLUETEC diesel-powered versions of its M, R and GL-Class sport-utility vehicles in 50 US states at the beginning of 2008.

U.S. Internet advertising revenue rose 37 percent in the first six months of the year, hitting a record of nearly $8 billion, according to a study released on Monday.

Microsoft will unveil a new unified advertising strategy on Monday with the launch of Microsoft Digital Advertising Solutions.

Intel Omnicom Media Group have partnered to bring Internet-Delivered Ads to TVs.

Hackers are increasingly targeting home computer users, accounting for a majority of all attacks, a new study details.

Video game developer, Take-Two Interactive, and publisher Rockstar Games announced a new crime game on Monday, LA Noire.

Apple Computer released a new iteration Aperture 1.5, its post-production photography software on Monday, delivering new libraries and integration with software not previously supported.

Sony Corp. announced on Monday that is will reassign several executives to align its structure along its core consumer and semiconductor businesses and strengthen product development and quality.

The European Union and Malaysia agreed Monday to open negotiations to cut down on the trade of illegal timber that is exported to European countries.

Oil and gas producer Oil Search is set for a strong move towards Papua New Guinea gas pipeline for liquefied natural gas (LNG) with backing from ExxonMobil Corp and BG Group.

Gold explorer Proto Resources and Investments Ltd. has launched a $3.5 million Initial Public Offering.

A lawsuit accusing tobacco companies of defrauding smokers into thinking light cigarettes were safer than regular brands can proceed as a class action, a federal judge in New York ruled on Monday.

It was announced today that the Kenmore European Industrial Fund had managed to raise £140m by completing an oversubscribed placing and offer for subscription.

Adobe Systems has released the latest iteration to its professional photo editing software, Lightroom, on Monday on its website.

Security researches have taken it upon themselves to issue a path for outstanding bugs inside Microsoft's internet browser, Internet Explorer.

ArmorGroup International Plc the security services firm today announced it had landed a $5.6 million mine clearance contract in Lebanon.

European internet users are far more engaged in online dating than their North American counter parts, according to research revealed on Monday.

Faced with mounting pressures of doing business in Silicon Valley, the venture capital industry is going global, albeit in stops and starts that reflect the risks of doing business in foreign lands.

Amp'd Mobile Inc. said on Monday that consumer electronics retailer Circuit City Stores Inc. would sell its mobile phones, as start-up wireless service Amp'd expands its distribution.