AP - European and U.S. stock markets fell modestly Monday despite earlier big gains in Asia, as investors awaited key testimony from U.S. Federal Reserve chairman Ben Bernanke and further developments in the Greek debt crisis.

AP - The National Bank of Hungary on Monday cut its main interest rate by a quarter percentage point to 5.75 percent, its lowest level ever, to help the economy out of the economic downturn.

BusinessWeek - “Just wait until your second year,” said last year’s second-year MBAs, reassuring me and my fellow first-years as we struggled under the combined weight of classes, recruiting, and developing our business school network. My fellow first-years and I took solace in the fact — yes, the undeniable fact — that second year would be easier on all fronts. …

AFP - World Trade Organisation chief Pascal Lamy said Monday that he was against inviting ministers to a meeting in March which is aimed at driving forward negotiations for a global trade liberalisation pact.

AFP - London’s benchmark FTSE 100 index rose 0.15 percent following a surge in Asian equities on bargain-hunting, traders said on Monday.

AFP - US stocks posted solid gains the past week on the back of positive economic data and mostly improved company earnings with attention focused on any easing of monetary policy by the Federal Reserve.

AFP - Retail sales in China during the Lunar New Year holiday rocketed by more than a sixth on last year, state media reported Saturday, in a possible sign of growing confidence among the billions of Chinese consumers.

AFP - Europe’s main stock markets mainly edged lower on Monday after recent volatility and following a surge for Asian equities on bargain-hunting, traders said.

AP - A lack of leadership within the European Union has worsened Greece’s financial crisis by failing to calm market fears the country might default on its massive debt load, the Greek deputy prime minister said Monday.

AP - The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling behind on their loans is declining.