IBT Staff Reporter

Independent Norwegian oil firm DNO said Monday that preliminary testing of the Tawke #1 well in the Kurdish region of northern Iraq confirmed gross recoverable oil reserves of approximately 100 million barrels.

Federal Reserve officials kept up their tough talk on inflation on Monday, bolstering expectations in financial markets that another rate increase is on the way at the Fed's policy meeting later this month.

Online job site Monster Worldwide Inc. and four other companies on Monday disclosed investigations by U.S. authorities into executive stock options grants, widening a scandal that now involves some 40 companies.

Lance Armstrong has been pretty impressive on the roads of France. But on Wall Street, not so much.

Investment bank Lehman Brothers Holdings Inc. said on Monday its quarterly earnings rose, as revenue from trading and investment banking jumped.

The market has been nothing to shout about recently. But investors holding Life Insurance stocks may not have noticed. As of Friday’s close, stocks in that industry were up 52 percent on average, over the past six months. What’s more, I counted at 11 other industries showing at least 15 percent returns over the same period.

U.S. Treasuries were down slightly on Monday, ahead of a series of Federal Reserve speakers this session and before this week's inflation data, which could shed insight on the likelihood of a June rate hike.

Latin America's fixation with the football World Cup in the next month is likely to slow trade in the region but some wonder if it will be enough to dampen instability global markets.

Facing the loss of tens of thousands of unionized, blue-collar auto jobs in coming years, the head of the United Auto Workers on Sunday called for a more collaborative approach to the deep-seated problems facing the U.S. industry, including high health care costs.

It was the worst week since April 2005, thanks again to fears of inflation and the Fed.

Baggage handlers and ramp workers for Northwest Airlines approved concessions to their contracts on Friday, which allow the airline to pursue budget cuts as it attempts to emerge from bankruptcy.

The SCO Group Inc., currently pursuing a multi-billion dollar lawsuit against IBM over the Linux operating system, announced losses for the second quarter that more than doubled those of the same quarter last year.

Small cars were banned from Beijing's main roads less than a decade ago, as China's rulers worried that cheap, spluttering vehicles would clog lanes they hoped to fill with sleek modern autos.

Texas Instruments Inc. on Thursday raised its outlook for second-quarter earnings and revenue above market expectations on strong demand across its chip business, boosting its shares 3 percent.

Google Inc. is committed to doing business in China despite criticism the company has faced for abiding by Chinese government censorship restrictions, co-founder Sergey Brin said this week.

Tribune Co., the Chicago-based media conglomerate, said on Thursday that it would go ahead with a major, $2 billion share repurchase program that had been discussed for weeks.

Just as it seemed that Wall Street would be heading into a foruth day of steep declines on inflation fears and higher interest rates across the globe, investors rallied Thursday to end the day nearly flat.

The first vaccine to prevent cervical cancer won U.S. approval on Thursday when health officials cleared a Merck & Co. Inc. shot to block a sexually transmitted infection that causes the deadly disease.

Sayaka Masuda's face was a picture of frustration when she realized she would have to buy a disposable camera in Kyoto, Japan's photogenic ancient capital.

U.S. stock market futures were drifting Wednesday on concerns the hangover from Federal Reserve's Chairman Ben Bernanke's hawkish interest-rate comments may linger, with seemingly little else on the economic or corporate news front to capture markets' attention.

U.S. stock futures pointed to a slightly higher market open on Wednesday, helped by upward momentum late in the previous session, but investors fretted about higher interest rates after a series of warnings about inflation from Federal Reserve officials this week.

Brookfield Properties Corp. said Monday that it will buy Trizec Properties Inc. and its Canadian investment arm in a $4.8 billion deal that pairs two of the largest commercial real estate companies in North America.

Istithmar Hotels, a Dubai government-owned firm, announced Monday that it had acquired the classic, Beaux-Arts style Knickerbocker Hotel in New York's Times Square for $300 million.

United Airlines' parent, UAL Corp., four months out of bankruptcy, must hone its focus on additional cost cuts or risk losing its advantage over airlines currently restructuring under court protection, industry experts say.

U.S. investors will watch next week to see if the latest employment numbers temper inflation expectations, without sharply dimming the outlook for corporate profit growth, giving stocks a chance to bounce back from May's sharp sell-off.

German drugs and chemicals group Bayer is not currently considering a bid for Pfizer's consumer healthcare business, an industry source familiar with the matter told Reuters on Saturday.

Dusty Dezhou was relegated to the footnotes of Chinese history for centuries, known mainly as the place where a Filipino king died.

Baby boomers are infamous for meddling in their children's lives. But when it comes time for their kids to buy homes, get married and have their own kids, they are going to want less advice and more help in the form of cold, hard cash.

Luxury goods giant Gucci Group is gearing up to launch in India next year and is confident smaller designer brands will meet profit targets as its three-year growth plan bears fruit, CEO Robert Polet told Reuters. Niche brands Bottega Veneta and Balenciaga are growing rapidly -- by more than 100 percent in Balenciaga's case in the first quarter. Both reached profitability two years ahead of schedule.