IBT Staff Reporter

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Flow of Iranian oil to Asia slows as sanctions bite

Japanese trading houses will cut Iranian crude imports from April, industry sources said on Tuesday, in the latest sign that Western sanctions are curbing the flow of Tehran's oil to its biggest customers in Asia.

U.S. stock index futures rise; Alcoa results eyed

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday that would halt a four-session losing streak, with futures for the S&P 500 up 0.32 percent, Dow Jones futures up 0.34 percent and Nasdaq 100 futures up 0.44 percent at 0845 GMT.

Honda eyes new models, strong growth in China

Honda Motor Co Ltd will launch 10 more car models in China by 2015 and expects sales in the country to double over the same period, a senior executive said on Tuesday, as it moves to narrow the gap with foreign rivals in the world's largest auto market.

Freddie Mac homes in on next CEO: WSJ

The former chief executive of online brokerage E*Trade Financial Corp has emerged as a favorite for the top job at Freddie Mac , the Wall Street Journal said, citing people familiar with the matter.

US Stock Index Futures Rise; Alcoa Results Eyed

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday that would halt a four-session losing streak, with futures for the S&P 500 up 0.32 percent, Dow Jones futures up 0.34 percent and Nasdaq 100 futures up 0.44 percent at 0845 GMT.

Android beats Apple in China mobile platform race: report

Google Inc's Android mobile operating system was the top smartphone platform in China last year, growing its market share by about 35 percent in the world's largest market for mobile phones, a Chinese technology research firm said.

Bank of Japan holds off on easing as expected

The Bank of Japan kept monetary policy steady on Tuesday, holding fire until a more thorough assessment of the economy at another rate review in two weeks that may show further action is needed to nudge inflation up towards its 1 percent target.

Bernanke says financial stability a work in progress

The U.S. economy has yet to fully recover from the effects of the financial crisis, and regulators must continue to find new ways to strengthen the banking system, Federal Reserve Chairman Ben Bernanke said on Monday.

China Dismayed by Australian Ban on Huawei

China expressed consternation over the decision of the Australian government to ban telecommunications giant Huawei from competing in its new national broadband network over concerns for cybersecurity.

Companies use popular provision to avoid income taxes

More than two dozen Fortune 500 companies paid no U.S. federal income taxes in recent years partly because of a corporate tax break that is broadly supported by Republicans and Democrats alike, a consumer group said on Monday.

Ford recalls more than 140,000 Focus cars in U.S.

Ford Motor Co is recalling 140,310 Focus cars from model year 2012 in the United States to repair a potential problem with the passenger-side windshield wiper motor, according to U.S. safety regulators.

Wall Street sinks in wake of jobs report

The Dow and the S&P 500 extended losses to a fourth day on Monday, as investors took their cues from last week's disappointing jobs report, which raised new concerns about the U.S. economy's recovery.

Icahn sues Amylin, pushes for sale

Carl Icahn sued Amylin Pharmaceuticals Inc to block enforcement of a bylaw that prevents the billionaire investor from launching a proxy fight that could lead to a sale of the maker of diabetes drugs.

Avon names J&J's Sherilyn McCoy as CEO; shares fall

Avon Products Inc named Johnson & Johnson senior executive Sherilyn McCoy to be its new CEO, presenting Coty Inc with another hurdle in its $10 billion bid for the world's largest direct seller of cosmetics.

Sony to ax 10,000 jobs in turnaround bid: Nikkei

Japan's Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, the Nikkei newspaper reported on Monday, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red.

Sony to axe 10,000 jobs in turnaround bid: Nikkei

Japan's Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, the Nikkei newspaper reported on Monday, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red.

Wall St slides after weak jobs data

Major stock indexes fell more than 1 percent in early trading on Monday, weighed by growth-related sectors, after last week's much weaker-than-expected report on March U.S. job creation.

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