The UK economy is stabilising but it will not be until early next year that a 'gradual' recovery will begin, the CBI says.

The US dollar strengthens after Russia's finance minister says it is likely to stay as the world's main reserve currency.

Job losses sweep the Middle East's banking capital

The Scottish Parliament should take charge of half the income tax raised in Scotland, the devolution review body says.

UK pub-owning group Punch Taverns says it hopes to raise cash through a new share offering.

The UK government says orders for new cars under its scrappage subsidy scheme have reached the 60,000 mark.

TomTom shares are the biggest faller in Amsterdam after the satellite navigation firm announces plans to issue new shares to raise money.

Ethiopia confirms it plans to build an extensive new railway system that could involve 5,000km of track.

US President Barack Obama announces a further $313bn (£190bn) in proposed savings to help reform US healthcare.

Can wind save South Africa from blackouts?

Holyrood should take charge of half the income tax raised in Scotland, says the body reviewing Scottish devolution.

Majestic Wine says the fizz has gone out of the champagne market after business customers cut their purchases of bubbly.

UK pub-owning group Punch Taverns says it hopes to raise cash through a new share offering.

Zimbabwe's economy could grow by between 4% and 6% this year according to the country's finance minister.

Mexico says it is suffering the biggest drop in tourism revenue since records began in the 1980s, because of swine flu.

Reuters - U.S. stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.2 percent, Dow Jones futures down 1 percent, and Nasdaq 100 futures down 1.1 percent at 0905 GMT.

Reuters - The commercial aircraft chief of U.S. planemaker Boeing expects growth to return to the industry in the middle of next year, he told a news conference at the Pairs Air Show on Monday. The recovery would be in both air freight and air traffic, though the big question remained the shape and scope of the upturn, Scott Carson said.

Reuters - An order from Qatar Airways looked set to brighten a glum start to a rain-soaked Paris Air Show on Monday as the Gulf carrier displays its financial muscle in the face of competing airlines bludgeoned by recession.

Sumitomo Mitsui Financial Group, which suffered a steep loss last year, had said in April it would seek about $8 billion in the market.

Authorities have ordered designers to fix security breaches to software that will be used to block Web sites, indicating that it still backs its use, despite heated debate.

n Europe, stock indexes fell after earlier losses in Asia, as investors worried that the three-month rally may not be justified by economic indicators.

The first deals are done at the Paris Air Show, with Qatar Airways ordering 24 A320 planes from Europe's Airbus.

Oil prices fall, extending their losses sustained since reaching Thursday's eight-month high of $72.68.

The English Premier League says it will sell Setanta's rights for live games next season if it does not make payments by Friday.

US President Barack Obama announces a further $313bn (£190bn) in proposed savings to help reform US healthcare.

Reuters - U.S. stock index futures pointed to a sharp slide on Wall Street on Monday as a resurgent U.S. dollar drove a pullback in the prices of oil and other commodities.

Reuters - Senior Obama administration officials on Monday said in a newspaper op-ed piece that a landmark financial regulation reform plan to be released this week will target capital requirements, securitization and other problem areas blamed for the global financial crisis.

Wall Street investors, like their counterparts in Europe, expressed concerns that a three-month surge in stocks might be overdone.

The head of Boeing?s commercial jet division sees a resumption of growth in airline traffic as early as 2010.

A new report says plainly that climate change is already causing human migration and displacement.

Mobile banking is set to grow fast in developing nations and hit $5bn by 2012, say analysts.

Virgin has pledged to tackle pirates as part of a deal to offer music to its broadband customers.

Reuters - U.S. stocks extended losses on Monday as a broad pullback in commodities weighed on resource shares and profit-taking hurt big-cap technology companies.

Reuters - The slumping New York state factory sector shrank at a more severe rate in June than during the previous month, the New York Federal Reserve said on Monday, confounding expectations of a slight improvement.

Reuters - U.S. Treasury Secretary Timothy Geithner said on Monday the financial system was beginning to thaw but any renewed pick-up in the economy would likely be slower than usual.

Reuters - Citigroup Inc and the private sector arm of the World Bank have struck a deal to offer a $1.25 billion funding facility intended to stimulate emerging markets trade over three years.

Investors took cover as they faced the prospect than any economic recovery could be slow and halting.

The insurance company said it would take nearly $1 billion in bailout funds, issue new stock and debt, and sell its British insurance business to shore up its deteriorating capital base.

To accelerate the adoption of electronic health records, G.E. will offer doctors and hospitals interest-free loans and guarantee that its products will meet not-yet-determined government standards.

Bucking the industry trend, the airline said that it would buy 24 of Airbus?s A320 family of planes, up from its initial order for four aircraft.

President Obama has been making the case that reducing malpractice suits should be part of a health care overhaul.

The International Monetary Fund says the US economy will shrink less than previously thought and return to growth by mid-2010.

French President Nicolas Sarkozy warns of political and social unrest unless there is greater regulation of the globalised economy.

The US government outlines its plans to tighten up financial regulation to prevent future crises.

Young people's aspirations of UK home ownership have shrunk as a result of the recession, according to a survey.

Reuters - U.S. stocks slid on Monday as retreating commodity prices drove a selloff in the shares of natural resource companies, while Goldman Sachs' downgrade of Wal-Mart Stores Inc pulled the discount retailer's stock down more than 2.6 percent.

Reuters - Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.

Reuters - The International Monetary Fund on Monday said a heavy dose of stimulus would ease the U.S. recession this year and lift growth marginally in 2010.

President Obama told doctors at the American Medical Association conference that the U.S. is ?not a nation that accepts nearly 46 million uninsured men, women and children.?

Unemployment in Europe has business and government looking for solutions, and some proposals go against the region?s reputation for inflexibility.

To accelerate the adoption of electronic health records, G.E. will offer doctors and hospitals interest-free loans and guarantee that its products will meet not-yet-determined government standards.

The hotel chain, Extended Stay Hotels, has filed for Chapter 11 bankruptcy protection.

Chinese President Hu Jintao and other leaders gather in Russia for the ninth Shanghai Co-operation Organisation summit.

Reuters - U.S. stocks fell broadly on Monday as regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices.

Reuters - U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America Corp's lending portfolio, in another sign that consumers remain under severe stress.

Reuters - U.S. homebuilder sentiment slipped in June, a private survey showed on Monday, as higher mortgage rates and an ongoing credit crunch damped expectations for the sector.

Reuters - U.S. home-builder sentiment slipped in June, a private survey showed on Monday, as higher mortgage rates and an ongoing credit crunch dampened expectations for the sector.

President Obama told the American Medical Association conference that the U.S. is ?not a nation that accepts nearly 46 million uninsured men, women and children.?

Under a program developed in Germany, employers are trying to avoid layoffs by reducing their workers? hours and pay. State unemployment funds help make up the difference for the workers.

The unusual agreement unites the leading music publisher with a broadband company to combat online theft.

Some advocates say incomplete statistics offer a rosy, and misleading, picture of airline performance.

Oil prices fall below $70, extending their losses sustained since reaching Thursday's eight-month high of $72.68.

Reuters - U.S. stocks had their biggest slide in a month on Monday after regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices, pressured by a stronger U.S. dollar.

AP - Discount retailer Syms Corp. and Vornado Realty Trust won an auction for the discount chain Filene's Basement, a Filene's executive said Monday.

A new program aims to help employers avoid layoffs by reducing their workers? hours and pay. For employees, state unemployment funds help make up the difference.

Entrepreneurs are snapping up commercial real estate at a 75 percent markdown from top-of-the-market prices two years ago.

Perhaps the most surprising thing about the clash between the two titans is that it took so long to develop.

Just over the horizon are fare increases, more capacity cuts and even various kinds of consolidation.

When he?s instructing multinational executives, a development coach often learns as much as he teaches.

The company said it would take nearly $1 billion in bailout funds, issue new stock and debt and sell its British insurance business to strengthen its capital position.

Sumitomo Mitsui?s effort indicates that the rally in the financial markets has improved the potential for such stock offerings.

The European Central Bank warns that the crisis facing the banking sector is not over, despite government efforts to support banks.

Reuters - U.S. stocks tumbled, marking

More than 100 victims of Bernard L. Madoff?s Ponzi scheme have filed emotional letters with the Federal District Court, and eight of them have asked to speak at his sentencing on June 29.

The head of the company?s commercial jet division said that airline traffic could resume growing next year, but that risks remained in air freight.

The company said it would take nearly $1 billion in bailout funds, issue new stock and debt and sell its British insurance business to strengthen its capital position.

The commission will ask a federal judge to block some lawsuits against the failed Reserve Primary Fund to ensure all shareholders get as much money as possible.

Boeing and Airbus greet rival aircraft from Russia

The Bric countries question the role of the dollar

Mumbai drives to build more affordable housing

As many as 350,000 public sector jobs could be lost over the next five years, a professional body is warning.

Reuters - Two weeks before the sentencing of Bernard Madoff for his $65 billion swindle, the judge who will decide his fate has received more than 100 angry letters from defrauded investors suggesting his punishment.

Customer service employees are calling to offer deals, a practice that was practically unheard-of before the financial crisis.

Fritz Henderson said that changes were coming at General Motors that would demonstrate his willingness to break from the past.

Congress would like to stop young people from smoking, but opponents say the marketing and advertising restrictions in the measure don?t abide by the First Amendment.

Stock markets slid as commodity prices fell, but government bonds regained ground and the dollar strengthened.

As President Obama made the case for a health care overhaul, an analysis by the Congressional Budget Office raised questions about one of the major plans on the table.

About one in every seven clicks on an advertisement is estimated to be fraudulent, and Microsoft is trying to make that kind of deception more expensive for perpetrators.

Victims of the $65 billion Ponzi scheme sent more than 100 letters and e-mail messages to the judge in the case, ahead of Bernard L. Madoff?s sentencing, set for June 29.

A desire to curb piracy was one reason behind the music download agreement struck between Universal and Virgin Media.

Rupert Murdoch and Silvio Berlusconi, Italy?s prime minister, have been trading accusations that seem to stem from rivalry over the country?s television business.

The hotel chain, acquired at the peak of the commercial real estate market for $8 billion, was hurt by cutbacks in corporate and leisure travel.

Unlike Chrysler?s senior creditors, General Motors? senior secured lenders are being made whole. Not so its bondholders, but that?s what they should have expected.

Paul Mason takes a trip through China's economic crisis

AP - California state and local officials are suing Target Corp., accusing the retailer of dumping hazardous waste in landfills around the state.

As President Obama made the case for a health care overhaul, an analysis by the Congressional Budget Office raised questions about one of the major plans on the table.

Entrepreneurs are snapping up commercial real estate at a 75 percent markdown from top-of-the-market prices two years ago.

Companies are using short-time compensation programs and temporary layoffs to stem the unemployment tide.

Social media sites are challenging levers of state media control and allowing Iranians to find novel ways around restrictions.

The first summit meeting of the so-called BRIC group ? Brazil, Russia, India and China ? is intended to underscore its demand for more economic influence.

Sumitomo Mitsui?s effort indicated that the rally in the financial markets has improved the potential for such stock offerings.

A bankruptcy judge has rejected the proposed sale of the N.H.L. franchise to Canadian billionaire Jim Balsillie, who would have moved the team to Hamilton, Ontario.

?Breaking the Bank,? a new ?Frontline? report, chronicles Bank of America?s strained acquisition of Merrill Lynch in the wake of the fall financial earthquake.