President Barack Obama is scheduled on Monday to submit to the U.S. Congress his fiscal 2013 budget proposal, which attempts to chart a fiscal path for the next 10 years.

Prudential Financial Inc (PRU.N), the No.2 U.S. life insurer, has hired Bank of America Merrill Lynch (BAC.N) to advise on its possible bid for ING Groep NV's (ING.AS) Asian insurance operations, South Korean media reported, in what is potentially Asia's second-biggest insurance sale ever.

The Federal Reserve will announce its decision on whether to approve Capital One Financial Corp's (COF.N) bid to acquire ING Groep NV's (ING.AS) U.S. online banking unit.

Apple Inc (AAPL.O) raised the stake in an intensifying global patent battle with Samsung Electronics (005930.KS) by targeting the latest model using Google's (GOOG.O) fast growing Android software, a move which may affect other Android phone makers.

Google is expected to win approval from European regulators, as well as from U.S. antitrust authorities, for its planned $12.5 billion purchase of Motorola Mobility (MMI.N), according to people familiar with the matter.

Federal prosecutors have presented evidence to a grand jury against U.S. executives of cosmetics company Avon Products (AVP.N), in a case that probes whether those executives broke foreign bribery laws, the Wall Street Journal said.

British police threw Rupert Murdoch's scandal-hit News Corporation (NWSA.O) into fresh turmoil on Saturday by arresting five senior staff at the top-selling daily The Sun in a probe into journalists paying police for tip-offs.

The United States should not let friction over economic and trade policies undermine the hugely important business relationship with China, Vice President Xi Jinping said in an interview published before a scheduled U.S. visit.

General Motors Co's (GM.N) China venture has won approval from a local environmental authority to build a $1.1 billion plant in central Hubei province, following the imposition of tighter control over foreign investment in the automaking sector.

Industrial conglomerate United Technologies Corp (UTX.N) is reviewing the possibility of selling its flow and compressor businesses that could fetch a combined $3.5 billion, people familiar with the matter said.

Banking and mining shares led European stocks higher early on Monday after the Greek parliament approved measures needed to secure an international bailout and avoid a chaotic default. The FTSEurofirst 300 index .FTEU3 of top European shares was up 0.8 percent.

Greeks swept rocks and broken glass from the streets of Athens on Monday after a night of violence that gave lawmakers a taste of the challenge they face in implementing a deeply unpopular austerity bill demanded by the country's foreign lenders.

On Friday, the Dow Jones industrial average .DJI fell 89.23 points, or 0.69 percent, to 12,801.23. The Standard & Poor's 500 Index .SPX was down 9.31 points, or 0.69 percent, at 1,342.64. The Nasdaq Composite Index .IXIC was down 23.35 points, or 0.80 percent, at 2,903.88.

(Reporting by Atul Prakash; Editing by Hans-Juergen Peters.)

• A Permanent Economic Emergency