With the aim to restrain the Navy's use of sonar, off the coast of Southern California to protect whales, on Wednesday the U. S. Supreme Court dealt a blow to the environmentalists.

However, the debate in Washington State, where the Navy and environmentalists have argued over the use of sonar in naval exercises and its impact on marine mammals, including endangered Puget Sound killer whales; is not likely to get altered by the decision to allow the continued use of sonar.

The USD ended near the highs of the day in late New York as the major pairs failed to hold early overnight gains. Despite a higher opening on Wall Street equities gains fizzled as investor confidence started the week on a down note; early excitement over the Chinese stimulus package announced over the weekend did not attract further buying. Traders note that continued concerns over emergency funding requested for the car makers weighed on investors as well as volatility in energy prices; crude oil had near a $6.50 range on the day before giving back gains and closing slightly better.

The Indian School of Business (ISB) has decided to set up second campus of business school in Mohali. Rs. 300 crore campus would be the first campus in northern region and it is expected to be operational by 2012. ISB's first campus is located in Hyderabad. Punjab government has decided to extend every help for this prestigious education institution. It would lease 70 acre of prime land in Mohali for 99 years at Re 1 per acre annually.

Alleged unfair issue of 2G spectrum allocation by department of telecommunication has reached in Delhi high court. Petitioner Mr. Arvind Gupata challenged the First Come First Serve policy of government and alleged that telecom ministry is playing in the hands of some real estate majors and infrastructure giants. PIL alleged that government allotted 2G spectrums at throwaway prices causing huge loss to state exchequer.