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WASHINGTON - Sirius Satellite Radio’s $4.59 billion purchase of rival XM Satellite Radio was given antitrust clearance on Monday as the Justice Department concluded consumers have many alternatives, including mobile phones and personal audio players.

NEW YORK - Valero Energy Corp , the largegest independent United States refiner, has said on Monday its first quarter earnings will be sharply lower than last year due to weak profits from gasoline production and unplanned outages at its refineries.

NEW YORK - Activist investor Carl Icahn has said on Monday he is suing Motorola Inc to force it to hand over documents related to its money-losing mobile devices business to determine if its board failed in its duties.

NEW YORK - United States stocks jumped on Monday after a liftd purchaseout offer for Bear Stearns Cos Inc suggested that financial stocks may have reached bottom, especially in light of fresh data that fueled hopes for a turnaround in housing.

NEW YORK - New York City risks losing more than 20,000 jobs in the high-paying financial sector over the next two years as the crisis in mortgage markets drives down Wall Street’s profits, according to a report issued on Monday.

TORONTO/WASHINGTON - The United States Securities and swap Commission has said on Monday that Canada’s Biovail Corp will pay $10 million to settle a probe into fraudulent accounting, but the drugmaker’s founder, Eugene Melnyk, and three other current and former executives still face charges.

NEW YORK - JPMorgan Chase & Co on Monday liftd its takeover offer for Bear Stearns Cos to about five times its original bid and struck a deal to purchase nearly 40 percent of the bank, all but locking up the controversial acquisition.

DETROIT - Ford Motor Co is due to announce its agreement to sell its luxury brands Jaguar and Land Rover to India’s Tata Motors Ltd for about $2 billion on Wednesday, the Financial Times has said on Monday.