“Stocks rose in Europe and Asia, led by banks and energy producers, as investors speculated that losses from the credit-market turmoil may have peaked and oil reached a record high. U.S. index futures increased,” reports Bloomberg.com.
“Continental Airlines brought its merger talks with United Airlines to an abrupt end on Sunday amid concerns for the rival US carrier’s financial strength in the face of record fuel costs and waning demand for air travel,” according to The Financial Times.
Mars Inc. and Warren Buffett’s Berkshire Hathaway Inc. are close to a deal to acquire Wm. Wrigley Jr. Co. for roughly $22 billion, “a deal that would remake the global confectionery landscape,” reports The Wall Street Journal.
Shares of Ford Motor jumped on Monday on news that billionaire investor Kirk Kerkorian “plans to raise his stake in the automaker to 5.6% from 4.7% with the purchase of 20 million shares through his Tracinda investment company, at $8.50 a share,” Tom Van Riper of Forbes writes.
Despite the fact that only 39 percent of Americans have a favorable view of the Republican party and 63 percent say the Iraq war was a mistake, presumptive Republican presidential nominee John McCain is running strong as Democrats Hillary Clinton and Barack Obama continue battling each other.
At a speech to the National Press Club, the Rev. Jeremiah Wright addressed the controversy resulting from his incendiary remarks, and “said the black church, not him, had been subjected to attacks in the 2008 presidential campaign,” CNN writes.
Firefighters on Monday continue to battle a wildfire that blazed through 400 acres near Los Angeles this weekend. At least 1,000 people have been evacuated from their homes, although no homes have burned, according to officials.
Whale-watching, a popular summer activity in the northeastern United States, may be putting whales in danger, says a new study. Whale-watching boats are going too fast near whales, disregarding a pledge to slow down, reports The Boston Globe.
On Monday, the Supreme Court ruled in Crawford v. Marion County Election Board that Indiana’s law meant to curb voter fraud did not impede the right to vote. “Indiana's statute, adopted in 2005, bars people from casting a ballot unless they present certain photo identification issued by the state or federal government, such as a driver's license or passport,” according to USA Today.
The U.S. military on Monday said that it had killed 38 fighters during battles in northeastern Baghdad. “The attacks, which seemed to be some of the biggest clashes in weeks, showed some fighters have defied an order by anti-American Shi'ite cleric Moqtada al-Sadr to observe a truce,” according to Reuters.
A 73-year-old Austrian man, Josef Fritzl, has admitted that to keeping his daughter locked up in a windowless cellar in the house where he lived for nearly 24 years, and fathering seven children by her.
Prime Minister Manmohan Singh of India said aborting female fetuses is a “national shame” and declared the need to clamp down on the practice that has led to a decreasing female-to-male ratio throughout the country.
Following a recount indicating that the opposition won the elections in Zimbabwe, the U.S. state department's chief Africa envoy, Jendayi Frazer, said the United States would support UN sanctions against Zimbabwe if Mugabe dragged on the present situation.
FDA advisors say that clearer LASIK eye surgery warnings are needed, reports the Associated Press: “The vast majority of people undergoing laser eye surgery benefit and are happy, but a small fraction, perhaps fewer than 1 percent, suffer serious, life-changing side effects.”
The Washington Post reports, “A new analysis concludes that the Food and Drug Administration approved experiments with artificial blood substitutes even after studies showed that the controversial products posed a clear risk of causing heart attacks and death.”