Japanese electronics giant Sharp is likely to report a net loss of nearly 400 billion yen ($4.9 billion) for the business year that ended in March, according to a report.

Slackness in its mainstay liquid crystal display (LCD) television business will drag the numbers below the earlier forecast loss of 290 billion yen, Jiji Press reported, without naming its sources.

Facebook is spending $1 billion to buy the photo-sharing company Instagram in the social network's largest acquisition ever.

On the surface, that's a huge sum for a tiny startup that has a handful of employees and no way to make money.

Inflation in Greece fell to 1.7 percent in March from 2.1 percent in February on a 12-month basis, the Greek statistics authority said on Monday.

In March of last year inflation was 4.5 percent, reflecting a sharp rise in prices because of tax increases required by the European Union and International Monetary Fund under a program to rescue Greece from its debt crisis.

Spanish airline Iberia said it had cancelled 124 flights on Monday as pilots began a series of one-day strikes to protest against conditions at new low-cost offshoot Iberia Express.

Pilots' union SEPLA has vowed to strike every Monday and Friday until July 20 -- a total of 30 days -- in its battle against the budget airline, which began flying on March 25.

China's inflation rate edged up in March, driven by rising food costs, official data showed Monday, but analysts said there was still scope for Beijing to stimulate the slowing economy.

The consumer price index (CPI) rose to 3.6 percent in March from 3.2 percent in February, slightly higher than analysts' expectations, as bad weather pushed up food prices and authorities raised the price of fuel.

Sony will cut 10,000 jobs worldwide this year as it attempts to carry out sweeping reforms aimed at reviving the iconic but loss-making Japanese electronics giant, the Nikkei business daily said Monday.

About half the planned job cuts are part of a restructuring of Sony's chemical unit as well as operations tied to its small and medium-sized liquid crystal display panels, the Nikkei said in its online edition.

The public transport authority in Brussels halted all buses, trams and metro trains in the Belgian capital Saturday after a controller was "beaten to death" following a traffic accident.

Spokeswoman Francoise Ledune said the controller, aged 56, was taken to hospital, where he later died.

Japanese and Chinese finance ministers agreed to cooperate over contributions to the International Monetary Fund amid efforts to help subdue Europe's sovereign debt crisis, the Agence France Presse said Saturday.

Japanese Finance Minister Jun Azumi and his Chinese counterpart Xie Xuren met in Tokyo as part of their regular dialogue, Jiji Press and Kyodo News reported.

Iran's non-oil exports surged 29 percent to nearly $44 billion in the year to mid-March despite tough Western sanctions to rein in Tehran's disputed nuclear drive, according to officials and data.

Overall exports excluding crude oil hit $48 billion, Kiumars Fathollah Kermanshahi, a deputy head of Iran's Trade Promotion Organization, told the official IRNA news agency.

Chrysler is recalling about 1,700 small Jeeps because faulty gas tank valves can cause fires.

The recall affects some 2012 all-wheel-drive Jeep Compass and Patriot SUVs.