The United States and the European Union will file a World Trade Organization case against China's restraints on financial information providers, a person close to the situation said Monday.
Shares of European Aeronautic Defence and Space Co. surged Monday after the company beat rival Boeing Co. to secure an estimated US$40 billion (€26 billion) contract from the U.S. Air Force to build military refueling planes.
Yearly inflation in the 15 nations that use the euro currency held at a record high of 3.2 percent in February, the EU statistics agency Eurostat said Monday.
The United States and European Union filed a WTO case against China on Monday demanding that it loosen restraints on foreign companies vying for a greater slice of the country's lucrative market for financial information.
Paddy Power PLC, Ireland's dominant betting company, reported a 52 percent surge in full-year profits Monday because of growing business on the Web and a string of losses by locally favored sports stars.
Oil prices fell Monday, close to US$101 a barrel as European stock markets slid on worries about the U.S. economy and oil traders booked profits after last week's record highs.
European and Asian stock markets tumbled Monday as investors reacted nervously to a steep decline on Wall Street Friday after disappointing economic and corporate news rekindled worries about a U.S. recession.
U.S. stock futures pointed to further declines Monday as investors awaited figures on manufacturing and construction spending to gain a better sense of how the economy is faring.
Europe's largest shipbuilder, Aker Yards ASA, said Monday it had swung to a loss in the fourth quarter of 2007 on higher costs and that chief executive officer Yrjo Julin would step down immediately.
U.S. mobile technology firm Qualcomm Inc. faced another blow in its legal battle against mobile phone handset maker Nokia Corp. on Monday, after a U.K. High Court Judge ruled that its claims over patent infringements are invalid.
