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U.S. factory activity dips; consumer spending cools

WASHINGTON - U.S. factory activity slipped in July and consumer spending advanced at its slowest pace in four months in June, indicating the economy lost some momentum recently.

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U.S. Dept of Justice initiates criminal probe against Deutsche Bank: Bloomberg

- The United States Department of Justice is investigating trades worth billions of dollars that Germany's Deutsche Bank AG made on behalf of its Russian clients, Bloomberg reported, citing people familiar with the matter.

Exclusive: Petrobras drags heels on Brazil fuel-price policy - sources

RIO DE JANEIRO - Brazil's state-run oil company, Petrobras, has failed to present its board of directors with a promised plan to bring domestic fuel prices in line with world levels, three sources with direct knowledge of the situation told Reuters.

5:28pm EDT

New U.S. airline group backs Gulf carriers in Open Skies dispute

- A challenge by U.S. airlines that accuses three Gulf carriers of distorting competition via government subsidies took another turn on Monday with the formation of a U.S. airline group that backs the Gulf-carriers' cause.

4:59pm EDT

Oil dives 5 percent to six-month low under $50 on China worry

NEW YORK - Oil prices lurched 5 percent lower on Monday to their lowest since January, taking global benchmark Brent below $50 a barrel as weak factory activity in China deepened a commodity-wide rout. | Video

China, Saudi Arabia 4:21pm EDT

AIG profit beats estimates, boosts buyback by $5 bln

- American International Group Inc , the largest commercial insurer in the United States and Canada, reported a quarterly operating profit that breezed past analysts' estimates, and boosted its share buyback by up to $5 billion.

6:41pm EDT

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