IBT Staff Reporter

Athens turned up the heat on its creditors on Tuesday as it sought to secure a bond swap that will cut its mountainous debt, while the main bondholders group warned a disorderly default would cause more than a trillion euros of damage to the euro zone.

Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again.

Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again.

President Barack Obama said on Tuesday it was only a matter of time before Syria's President Bashar al-Assad left office, but added it was a mistake to think the U.S. could take unilateral action there.

A cybersecurity bill introduced by Republican Senator John McCain could dramatically expand the domestic reach of U.S. intelligence agencies and potentially give them massive troves of emails, civil liberties advocates said.

Google Inc is renaming its online storefront for music, books and digital goods, its latest move to raise its profile in the market for electronic content sales and to better compete with Apple Inc and Amazon.com Inc.

The Justice Department plans to take action in the coming months against individuals involved in corporate fraud, Attorney General Eric Holder said on Tuesday, adding that fines against companies are not enough of a deterrent.

Allen Stanford was convicted on Tuesday of running a $7 billion Ponzi scheme, a verdict that caps a riches-to-rags trajectory for the former Texas financier and Caribbean playboy.

Lehman Brothers Holdings Inc's record $639 billion bankruptcy ended on Tuesday, clearing the way for it to start distributing about $65 billion to creditors starting on April 17, court documents show.

Six suspected leaders of the international hacking organization known as Anonymous were charged by U.S. authorities of computer crimes, dealing a major blow to the loose-knit group that has wreaked havoc on the websites of government agencies and major corporations.

British Web users face having their Internet connections throttled or suspended if they are found to have downloaded music or movies illegally after Internet service providers BT and TalkTalk lost a court appeal on Tuesday.

Stocks fell the most in nearly three months on Tuesday with the Dow tumbling more than 200 points as recent government data rekindled concerns about global growth and a deadline loomed for private holders of Greek debt to agree to hefty losses.

General Motors Co's alliance with French peer PSA Peugeot Citroen is just one part of GM's plan to fix its loss-making Opel unit, Vice Chairman Steve Girsky said, though he declined to say what would come next in the plan.

Russia rebuked the U.S. ambassador via Twitter on Tuesday after he tweeted his concern at the detention of protesters who challenged Vladimir Putin's presidential election victory.

U.S. authorities said on Tuesday top members of the LulzSec computer hacking group were arrested and its leader had previously pleaded guilty to carrying out over a dozen cyber attacks on major companies.

Stocks were on track to post their worst day so far in 2012 on Tuesday as recent government data rekindled concerns about global growth and as a deadline loomed for private holders of Greek debt to agree to hefty losses.

Economists are increasingly confident that Ireland will avoid falling back into recession when quarterly growth figures are released later this month, but the economy faces growing pressure from weak domestic demand, a poll showed on Tuesday.

Just as the assembly lines making them prepared for a five-week shutdown due to slack demand, General Motors Co's Chevrolet Volt and Ampera plug-in electric hybrid cars were named European Car of the Year at the Geneva Auto Show.

JPMorgan , Goldman Sachs and Barclays Capital tightened their grip on the over-the-counter market for commodity derivatives among corporations and investors last year, a survey released on Tuesday showed.

Baird upgraded OmniVision Technologies Inc a notch to outperform on indications that the company's camera sensors will be used in the next version of Apple Inc's iPad tablet.

After the slowest year for U.S. bank mergers in three decades, investment bankers are seeing flickers of a recovery.

Stocks were on track to post their worst day so far in 2012 on Tuesday as recent government data rekindled concerns about global growth and as a deadline loomed for private holders of Greek debt to agree to hefty losses.

France is prepared to switch allegiance from Spain to Luxembourg in the battle for a seat on the Executive Board of the European Central Bank, according to diplomatic sources, an appointment that would tilt the balance towards anti-inflation traditionalists.

Cellphone chip supplier Qualcomm Inc hiked its quarterly dividend by 16 percent and announced a new $4 billion share buyback program.

French carmaker PSA Peugeot Citroen offered its shares at a deep discount on Tuesday in a 1 billion euro ($1.3 billion) rights issue to fund an alliance with General Motors aimed at boosting overseas growth and new model development.

Chipmaker Intel expects its German sales volumes to rise more than 10 percent this year as it launches new energy-saving processors and as Microsoft launches a new version of its Windows computer operating system.

German state prosecutors have charged three employees at Porsche with credit fraud, the latest fallout from a legal dispute alleging the sportscar maker illegally cornered the market in Volkswagen shares in 2008.

Wall Street fell on Tuesday on renewed concerns that Greece and private bondholders may not meet a looming deadline to complete a debt swap and as caution grew over the global economic outlook after recent weak data.

The Federal Bureau of Investigation has arrested three suspected members of the hacker group LulzSec and charges will be made public against two more, a law enforcement official told Reuters on Tuesday.