Business Today: Wall Street falls on weak energy prices

	Click to View in Browser 09/17/2012 Wall Street falls on weak energy prices NEW YORK (Reuters) - Stocks fell on Monday in light trading after a rally that drove the S&P 500 last week to its highest level in nearly five years and as falling oil prices hit energy shares. U.S. launches auto case against China, Beijing fires back CINCINNATI/GENEVA (Reuters) - President Barack Obama on Monday said the United States was challenging Chinese auto and auto-parts subsidies that threatened American jobs as he campaigned in Ohio, an auto manufacturing state that could be decisive in the November presidential election. Apple sells 2 million new phones, sets early order record (Reuters) - Demand for Apple Inc's new iPhone 5 has exceeded initial supply as the company booked 2 million orders in one day and pushed the delivery date for some preorders to next month. Court told of UBS "rogue trader" spread-betting losses (Advisory: Please note the story contains strong language in paragraph 28.) Analysis: Fidelity's Abby Johnson faces challenges on many fronts BOSTON (Reuters) - As Abigail Johnson takes control of Fidelity Investments' most important businesses, she will have to deal with some of the biggest threats to the fund group's franchise and profitability in its 66-year history. Google buys Instagram rival Nik Software (Reuters) - Google Inc said it bought Instagram rival Nik Software, which makes award-winning photo editing application Snapseed, for an undisclosed amount. IMF challenged by lending to euro zone countries WASHINGTON (Reuters) - The International Monetary Fund acknowledged on Monday it faced "serious challenges" in designing bailout programs for troubled euro zone countries mainly because it was restricted by the rules of the 17-member currency zone. No more big cash infusions for F-35 cost overruns: Air Force WASHINGTON (Reuters) - The Defense Department has no flexibility or interest in any additional restructuring of the Lockheed Martin Corp F-35 programs that would lead to the transfer of billions of dollars into the program, Air Force Secretary Michael Donley told reporters on Monday. Peregrine CEO pleads guilty to embezzlement, other crimes CEDAR RAPIDS, Iowa (Reuters) - Peregrine Financial Group Chief Executive Russell Wasendorf Sr. pleaded guilty in an Iowa courtroom on Monday to embezzling more than $100 million from customers of his futures brokerage, lying to regulators to cover his tracks, and mail fraud. IKEA set to boost expansion with new CEO STOCKHOLM (Reuters) - IKEA, the world's largest furniture retailer, is set to speed up its store expansion pace as part of a bid to further boost growth after another year with record turnover. Related Video 3XSQ: Investors have a case of iPhone 5 fever Robot researchers learn lessons of lizard locomotion Economic News Repo rates dip as auctions settle, Fed QE3 adds pressure Uncertainty is adding to U.S. jobless rate: Fed paper A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend