UNITED STATES

Hong Kong stocks edged up 0.1 percent on Tuesday after investors bid up China Mobile amid a renewed focus on the prospect of 3G licences to spur a widely expected industry restructuring.

The dollar rallied against the euro for the fifth consecutive session on Tuesday to an 11-week high, according to Reuters data, as rising U.S. Treasury yields lured investors.

The leading share index ended down 0.7 percent on Tuesday, with banks worst hit as U.S. and European markets were knocked by fears that strong global growth would force interest rates higher around the world.

U.S. stocks fell sharply on Tuesday as bond yields shot to their highest in five years, stoking fears that higher borrowing costs could cut into corporate profits and discourage takeovers.

Mexican markets fell sharply on Tuesday, following a steep drop in U.S. Treasury prices as investors worried about the possibility of higher global interest rates.

Oil prices dropped below $66 a barrel Tuesday amid expectations that gasoline supplies rose for the sixth straight week, easing worries of a crunch during the summer vacation season.

Gold fell nearly one percent on Tuesday to trade near last week's three-month low, with a firmer dollar and a decline in oil putting pressure on the metal.

Qwest Communications, Inc. (NYSE: Q) said Monday that its chief executive officer will retire as soon he finds a successor, sending shares down 8 percent.

Microsoft chairman Bill Gates, who dropped out of Harvard about 30 years ago, received an honorary law doctorate from his old school on Thursday.

Sony's said Thursday that its computer entertainment unit laid off nearly 100 of its 1,600 U.S employees, with most coming from its headquarters in Foster City, Calif.

U.S. Online Ad Sales Up Sharply in 1Q U.S online advertising jumped 26 percent to a record $4.9 billion in the first quarter of 2007, the Interactive Advertising Bureau and PricewaterhouseCoopers said Wednesday.

As leaders from eight of the world's top industrialized countries meet this week, to speak about global development, one of the main issues on the agenda will be climate change.

Dow Jones & Co.'s (NYSE: DJ) union has enlisted billionaire Ron Burkle to explore alternatives to News Corp.'s (NYSE: NWS)$5 billion take over bid in an effort to ensure editorial independence at the Wall Street Journal.

A pair of private equity firms are the winning bidders for communications manufacturer Avaya, Inc. (NYSE: AV).

News Corp. (NYSE: NWS) chief Rupert Murdoch told reporters that he had a good meeting with Dow Jones & Co.'s controlling Bancroft family over his proposal to purchase the company for $5 billion.

Private equity firm Blackstone Group L.P. agreed to buy privately held insurance brokerage Alliant Insurance Services, Inc., it said late Sunday.

Insurance Australia Group Ltd., Australia's largest auto and home insurer, ended three year talks to buy a stake in China Pacific Property Insurance Co., saying the company's parent resisted the move.

Federal authorities said a plot by a suspected Muslim terrorist cell to blow up John F. Kennedy International Airport, its fuel tanks and a jet fuel artery could have caused unthinkable devastation.

CVS Caremark Corp. (NYSE: CNS), reported on Tuesday a 6.2 percent rise in May sales for its stores open for more than one year.

Clothing designer Polo Ralph Lauren Corp. (NYSE: RL) posted a better than expected profit for its fiscal fourth quarter on Wednesday, citing strong sales in Europe and the United States.

Corporate phone system maker Avaya Inc. (NYSE: AV) is reportedly in talks about selling all, or part of the company to a private equity firm and other bidders.