Mr. Bernstein embraced and spread efficient market theory, an alternative to stock-picking. He changed the way Americans invest.

Ms. Cowles was a painter, a writer and a renowned hostess who oversaw Flair magazine, a chic but short-lived publication.

A technical glitch that left customers of the Nationwide building society unable to access their online accounts is fixed.

Reuters - Two senior Europe-based partners in U.S. private equity firm Cerberus, majority owner of carmaker Chrysler, have left the company, the Wall Street Journal reported, citing a person familiar with the company.

The International Air Transport Association lowered its revenue and loss projections for 2009 amid what it said were the worst conditions it has ever faced.

Barclays confirmed it is in talks with US money management firm Blackrock about the sale of its Barclays Global Investors (BGI) division.

The International Air Transport Association says airlines may lose $9bn this year, almost double the estimate made three months ago.

The mayor of Chinese boom town Shenzhen is investigated as part of a corruption investigation, state media reports.

Taxpayers are set to claw back cash from Lloyds Banking Group after investors strongly backed a share sale.

Major English football clubs seek a foothold in India

Reuters - Global airlines are likely to lose $9 billion this year, the International Air Transport Association said on Monday, nearly double its estimate of just three months ago, as rising fuel prices and weak demand create an unprecedented crisis for the industry.

Reuters - Barclays Plc is in talks to sell Barclays Global Investors (BGI), the British bank said on Monday, with U.S. fund manager BlackRock the frontrunner to land the asset manager, according to people familiar with the matter.

The company is in advanced talks to sell Barclays Global Investors, its highly regarded asset-management arm, for more than $10 billion, people briefed on the matter said.

Asian stock markets were mixed Monday as investors weighed the possibility of a weak economic recovery.

The German government rejects a request for aid from Arcandor, which owns Karstadt and 52% of Thomas Cook.

The pace of decline of the world's major economies is slowing, according to the Organisation for Economic Co-operation and Development (OECD).

Fears that Latvia's weak lat could hit Baltic economy

Fears remain over the Latvian currency after the central bank said it has spent almost 1bn euros (£876m) this year supporting the lat.

The UK High Street's biggest chemist chain, Alliance Boots, has confirmed former HBOS boss Andy Hornby as its new chief executive.

West Ham are taken over by asset management company CB Holding.

Reuters - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1 percent, Dow Jones futures down 0.9 percent and Nasdaq 100 futures down 1.1 percent.

Reuters - Global airlines are likely to lose $9 billion this year, the International Air Transport Association said on Monday, nearly double its estimate of just three months ago, as rising fuel prices and weak demand create an unprecedented crisis for the industry.

Reuters - Barclays Plc is in talks to sell Barclays Global Investors (BGI), the British bank said on Monday, with U.S. fund manager BlackRock the frontrunner to land the asset manager for about $12 billion.

AFP - German officials on Monday rejected a request from the troubled retail group Arcandor for state loan guarantees.

The company is in advanced talks to sell Barclays Global Investors, its highly regarded asset-management arm, for more than $10 billion, people briefed on the matter said.

Bain Capital is planning to invest as much as $400 million to acquire a minority stake in Gome Electrical Appliances, according to people familiar with the talks.

The Irish Republic's sovereign debt rating has been cut for the second time this year.

BMW reports another hefty fall in sales in May, but the pace of decline was slower than it had been in April.

Japan's current account surplus declined in April for the fourteenth consecutive month.

Rank Group - which runs casinos and Mecca bingo halls - has won a High Court battle which advisers say could cost the taxman up to £500m.

Reuters - Stock index futures pointed down about 1 percent on Monday after three weeks of gains, while markets awaited word from the government about the repayment of bank bailout money this week.

Reuters - Global airlines called on Monday for concerted action to prevent another runaway surge in oil prices as the International Air Transport Association nearly doubled its forecast of industry losses to $9 billion in 2009.

Wall Street lost ground in early trading as investors awaited word from the government on which banks will be allowed to return bailout funds.

The ratings agency lowered its long-term sovereign credit rating to ?AA? from ?AA+? amid concerns about the cost of the government?s bank bailouts.

From the start of trading on Monday, General Motors and Citigroup are replaced by Cisco Systems and Travelers.

More than six years of growth in net ad spending has ended thanks to the global economic slump, reveals figures.

The rival pipelines to secure Europe's energy supplies

Reuters - Stocks opened lower on Monday after McDonald's warned on its second-quarter profit and on concerns that a push by banks to repay government bailouts may divert funds from an economic recovery.

Reuters - The U.S. job market strengthened in May for the first time in 16 months, indicating that while job loss figures remain deep in the woods a recovery, albeit slow, is in sight, a research group said on Monday.

AFP - German officials on Monday rejected a request by troubled retail group Arcandor for state loan guarantees, as the leading shareholder in travel agency Thomas Cook lurched towards insolvency.

As advisers struggle with the economic crisis, Lawrence H. Summers is often at the center of heated debates.

All computers sold in the country must include software to filter out ?unhealthy information? from the Internet.

The denial ends the legal efforts by L. Dennis Kozlowski, the former chief of Tyco International, to challenge their fraud and larceny convictions related to big bonuses at Tyco.

A new way to profit from writing software for smart phones is emerging: Sell apps, then sell your company.

US stocks have fallen as investors await news on whether US banks have raised additional capital to meet stress tests.

Reuters - Stocks slid on Monday after McDonald's Corp warned that second-quarter profit could be hurt by currency swings and investors worried that rising interest rates may hamper a recovery.

Reuters - General Motors Corp , which filed for bankruptcy protection a week ago, said on Monday that it would cease production of medium-duty trucks by July 31 after attempts to sell the operation failed.

Reuters - McDonald's Corp on Monday reported a 5.1 percent increase in May sales at restaurants open at least 13 months, with demand strong in Europe and Asia/Pacific.

AFP - The German government on Monday rejected a plea by troubled retail group Arcandor for emergency loans and guarantees, as the leading shareholder in travel agency Thomas Cook lurched towards insolvency.

Bits is providing live updates and analysis from Apple?s Worldwide Developers Conference.

President Obama said that he expected his economic stimulus package to save or create an additional 600,000 jobs this summer.

Stock markets sagged lower in afternoon trading on Monday as the prices of crude oil and metals fell back.

Investors in a ?eco-village? of lakes, pools and 2,500 villas in Abu Dhabi have started a campaign to force the developer to push ahead with the project.

The telecommunications company said that it was calling off the auction for its nationwide long-haul data and telephone network.

A new way to profit from writing software for smart phones is emerging: Sell the apps, then sell your company.

President Barack Obama has said his $787bn stimulus package will deliver more than 600,000 jobs this summer.

Virgin Atlantic announces it is to pull its brand name and sell its shares in Nigerian flag-carrier Virgin Nigeria.

Taxpayers will claw back some cash from Lloyds Banking Group after investors strongly backed a share sale.

Reuters - U.S. stocks fell on Monday after McDonald's Corp warned that second-quarter profit may be hurt by currency swings and as investors worried that the ongoing rise in interest rates could hamper a recovery.

The Supreme Court agreed to delay the sale of most of Chrysler?s assets to Fiat pending consideration of an appeal by three Indiana state funds, injecting new uncertainty into the carmaker?s bankruptcy case.

As federal agents take over checking passenger names against terrorist lists, full names will be required.

Apple also showed off a new operating system and cheaper laptops during its Worldwide Developers Conference.

Stocks headed higher in late trading on Monday as traders looked ahead toward economic recovery, and so did interest rates on government bonds.

Investors in a ?eco-village? of lakes, pools and 2,500 villas in Abu Dhabi have started a campaign to force the developer to push ahead with the project.

The European agriculture commissioner said that she had abandoned proposed changes that would have allowed red and white wine to be blended to make rosé.

All computers sold in the country must include software to filter out ?unhealthy information? from the Internet.

Mark W. Olson, chairman of the Public Company Accounting Oversight Board, on Monday announced his retirement, effective July 31.

The restaurant chain said that sales at stores open at least a year climbed 5.1 percent in May, helped by strong international sales.

The US Supreme Court grants a request to delay the sale of carmaker Chrysler to a group led by Italian carmaker Fiat.

Apple has updated its successful iPhone and introduced price cuts for older models at its developers conference.

Reuters - U.S. stocks rebounded off session lows on Monday to end little changed as gains in bank shares offset lighter-than-expected sales from McDonald's and lowered iPhone prices from Apple .

Apple also showed off a new operating system and cheaper laptops during its Worldwide Developers Conference.

Stocks headed higher in late trading on Monday as traders looked ahead toward economic recovery, and so did interest rates on government bonds.

Investors in a ?eco-village? of lakes, pools and 2,500 villas in Abu Dhabi have started a campaign to force the developer to push ahead with the project.

After huge losses last year, hedge funds climbed an average of 5.23 percent in May for one of their best months ever.

The lawsuit accused the European oil giant of being complicit in the executions of the activist Ken Saro-Wiwa and other critics of Nigeria?s former military government.

Ten US banks ordered to raise extra funds develop sufficient plans to strengthen their finances, the Federal Reserve says.

President Barack Obama has said his $787bn stimulus package will deliver more than 600,000 jobs this summer.

Job losses soar as Ireland's boom turns to bust

Reuters - U.S. stocks rebounded late on Monday to end flat, shrugging off lighter-than-expected sales from McDonald's and lowered iPhone prices from Apple .

Reuters - Texas Instruments raised its targets for second-quarter earnings and revenue, signaling improving demand in the chip market, and its shares rose 4 percent.

The national jump in prices is far larger than the normal seasonal increase and threatens to curtail a modest recovery in consumer spending on items like apparel and electronics.

President Obama said that he expected his economic stimulus package to save or create an additional 600,000 jobs this summer.

The European oil giant Shell had been accused of being complicit in the executions of the activist Ken Saro-Wiwa and other critics of Nigeria?s former government.

Mark W. Olson, chairman of the Public Company Accounting Oversight Board, on Monday announced his retirement, effective July 31.

The telecommunications company said that it was calling off the auction for its nationwide long-haul data and telephone network.

Regulators had accused the money manager of inflating the value of a mutual fund that invested in mortgage-backed securities.

The chip maker said it expected earnings of 14 to 22 cents a share, up from 1 to 15 cents.

Tyco?s former chief executive, L. Dennis Kozlowski, and its former chief financial officer, Mark H. Swartz, are serving up to 25 years in prison for taking unauthorized pay.

Oil firm Shell agrees to pay $15.5m to families of nine Nigerian activists executed in 1995, but accepts no liability.

UK retail sales fell in May from a year earlier as hard-up consumer steered clear of buying big-ticket items, industry data shows.

Rising interest from potential buyers coupled with a lack of sellers is stabilising UK house prices, surveyors say.

Reuters - Shares of Palm Inc slipped on Monday amid concerns that early sales of its highly anticipated new phone, the Pre, fell short of expectations and that its launch may be overshadowed by supply constraints.

The union at The Boston Globe narrowly rejected cuts despite threats of deeper reductions in pay from The New York Times Company, which owns the paper.

Financial institutions are burnishing their images for public opinion and to try to influence lawmakers.

Apple also showed off a new operating system and cheaper laptops during its Worldwide Developers Conference.

After huge losses last year, hedge funds climbed an average of 5.2 percent in May for one of their best months ever.

After protests from winemakers, the European agriculture commissioner abandoned a proposal that would have allowed the blending of red and white wines to make rosé.

The deal could help stabilize a Chinese consumer electronics giant that was recently rocked by scandal.

That the highest court in the land has now signaled a willingness to consider the merits of arguments made by those opposed to the deal is good for capitalism, not to mention democracy.

Financial institutions are burnishing their images for public opinion and to try to influence lawmakers.

Dr. Andrew G. Bodnar?s sentence to write a book is not the first time the judge in his case has ordered a defendant to write.

The chief of the International Air Transport Association said the airlines? future ?depends on a drastic reshaping by partners, governments and industry.?

Stocks headed higher in late trading on Monday as traders looked ahead toward economic recovery, and so did interest rates on government bonds.

A 61-30 vote to keep the tobacco regulation bill on track sets up the possibility of final approval later this week.

A British Airways executive has been honest with his workers about what he sees as a protracted, and possibly permanent, change in global airline fortunes.

For a travel enthusiast, a two-hour flight delay is a chance to indulge his passions.

Two Bank of America directors resigned and four new ones more were named.