Global Economic and business news

Reuters - Stocks fell broadly on Monday as ongoing concerns about the speed of a global economic recovery were compounded by data from Japan, which showed that while the world's No.2 economy returned to growth, the recovery may be shaky.

Reuters - Lowe's Cos posted a 19 percent drop in quarterly profit on Monday and forecast current-quarter earnings below Wall Street estimates as consumers put off big home projects, sending its shares down more than 8 percent.

Reuters - The CBOE Volatility Index (.VIX) jumped more than 15 percent on Monday as U.S. stocks tumbled on renewed concerns about the potential strength of the economic recovery.

Reuters - A gauge of the New York state factory sector showed growth for the first time since April 2008, signaling manufacturers could lead the U.S. economy out of the worst downturn in 70 years.

AP - Shares of GameStop Corp., the world's largest videogame retailer, slid 5 percent in premarket trading Monday after an analyst predicted its second-quarter results would fall short and the company would have to cut its guidance.

Reuters - Kenneth Feinberg, the Obama administration's pay czar, said on Sunday he has broad and "binding" authority over executive compensation, including the ability to "claw back" money already paid, and he is weighing how and whether to use that power.

Reuters - Japan's economy returned to growth in the second quarter, pulling out of its longest recession since World War Two, but analysts warned of a rocky road ahead as the nascent recovery was based on short-term stimulus efforts around the world.

Reuters - New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities (ARS), is likely to file a lawsuit on Monday against Charles Schwab Corp for civil fraud, the Wall Street Journal said, citing people familiar with the matter.

AP - World stock markets and oil prices slid Monday as worries about the consumer outlook in the U.S. reined in hopes about the pace of any global economic recovery — despite the news that Japan has climbed out of recession.

Reuters - World stocks fell by more than 1 percent on Monday, led by sharp drops in Asia, while government bonds and the dollar rose as doubts about the strength of a global economic recovery triggered a risk asset sell-off.

AP - On Wall Street, the average shopper can trump a Federal Reserve policy maker.

Reuters - U.S. stocks could extend last week's retreat after a four-week advance as the earnings season winds down and investors search for signs that consumer spending will help sustain an economic recovery.

Reuters - Suzuki Motor Corp plans to start selling a hybrid sedan in North America in 2011, using a next-generation system co-developed with General Motors Corp, the Nikkei business daily reported on Sunday.

AP - Auto parts supplier Visteon Corp. has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers.

AP - A Delaware bankruptcy judge is weighing whether auto parts supplier Visteon Corp. can terminate retiree health care and life insurance benefits for thousands of current and former workers.