Threat to sue
FRANCE'S richest man, Bernard Arnault, said he would sue a newspaper over the headline - "Get lost, you rich idiot!"
The headline was on top of a story about Mr Arnault applying for Belgian nationality.
Mr Arnault, the boss of the luxury conglomerate LVMH, insists his move is not aimed at avoiding high taxes about to be imposed on the wealthy by France's new Socialist government. n AFP
IRAN'S currency plunged nearly 8 per cent to a new record low against the US dollar on Monday, but the dramatic drop was being suppressed within the country through censored mobile phone text services and some exchange websites.
One money changer said by telephone that the street rate was 26,400 rials to the US dollar, sharply lower than the 24,000 rate late on Sunday.
The Mehr news agency reported a rate of around 26,000.
"These prices cannot continue," central bank chief Mahmoud Bahmani was quoted as saying on the website of state broadcaster IRIB. n AFP
SPAIN'S Prime Minister Mariano Rajoy has ruled out any economic bailout that dictates spending cuts or touches old-age pensions.
As global markets anticipated a rapid international rescue for the eurozone's fourth-biggest economy, Rajoy refused to be rushed into a deal or to contemplate surrendering key powers over the budget. "I could not accept that they tell us which are the concrete policies in which we have to cut or not cut," the 57-year-old leader said on Monday in his first television interview since taking power in December. n AAP
Commodities giant Glencore has officially confirmed the terms of its improved merger offer to mining group Xstrata, made on Friday.
Under the new terms, Xstrata boss Mick Davis would head the combined group for six months before making way for Glencore's Ivan Glasenberg.
Glencore has offered 3.05 of its shares for each Xstrata share, up from its original offer of 2.8 shares.
The commodities trader said it would not increase the offer further. n BBC