IBT Staff Reporter

Merck & Co Inc said on Tuesday it expects first-quarter earnings per share to be between 95 and 98 cents, excluding items, below the average estimate on Wall Street of $1.01.

Wall Street was set to open lower 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.

Online advertising will continue to gain share at the expense of print-based media, Nomura said, starting coverage of Google Inc with its top rating.

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

As Apple Inc, the world's most valuable listed company, braces itself for a report into alleged poor working conditions among its army of low-cost suppliers in China, it could heed the lessons from another big-brand retailer that faced similar issues two decades ago.

Ford Motor Co will focus on small, low-cost cars in India to make the country a manufacturing hub for Africa and the Asia-Pacific region, the head of its Indian operations said, as it races to catch up with global rivals in the fast-growing market.

The differing fortunes of car makers in Europe were on display at the Geneva Auto Show, as a renewed commitment to European manufacturing from Nissan and strong sales forecasts from BMW and Volkswagen contrasted with a deeply discounted rights issue from Peugeot to fund its alliance with General Motors.

Stock index futures fell on Tuesday on renewed concerns that Greece and private bondholders would not meet a looming deadline to complete a debt swap, potentially opening the way for a messy default that could hurt neighboring economies.

By a Reuters staff reporterMyanmar will begin a managed float of its currency in the fiscal year from April and develop an interbank money market, according to central bank documents obtained by Reuters, ending a fixed-rate currency system that has stifled investment and fueled a black market.

A disorderly Greek default would cause more than a trillion euros ($1.3 trillion) of damage to the euro zone and could leave Italy and Spain dependent on outside help to stop contagion spreading, the main bondholders group has said.

Supermarket operator Safeway Inc said on Tuesday it expects higher sales and profit this year.

Stock index futures fell on Tuesday on renewed concerns that Greece and private bondholders would not meet a Thursday deadline to complete a debt swap, potentially opening the way for a messy default.

A collapse in household spending, exports and manufacturing sucked the life out of the euro zone's economy in the final months of 2011, the EU said on Tuesday, showing the scope of the downturn that looks set to become a fully fledged recession.

Myanmar will begin a managed float of its currency in the fiscal year starting in April and wants to develop an interbank money market to end a black-market currency system that critics say deters investment and abets kleptocracy.

Stock index futures pointed to a lower open for equities on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 futures down 0.8 to 0.9 percent.

Consumer staples companies have a problem. It costs more to make everything from soup to soap to soda, but when they raise prices they turn off consumers and strain their relationships with Wal-Mart Stores Inc, their biggest customer.

European shares fell sharply and the euro hit a near three-week low on Tuesday on worries that Greece will not be able to complete a major debt restructuring deal and on growing concern that global economic growth is weakening.

Shares in AIA Group Ltd had their second-biggest one-day percentage fall on Tuesday after its former parent, American International Group ), raised about $6 billion by selling shares at the bottom end of the marketing range.

A disorderly default in Greece would likely necessitate outside support for Spain and Italy to stop the threat of contagion, and could cause more than 1 trillion euros of damage to the euro zone, a group of bondholders warned.

- American International Group raised about $6 billion by cutting its AIA Group stake in a deal that was priced at the bottom of the bailed-out U.S. insurer's own expectations.

Ford Motor Co has decided not to pursue any alliances this year with other carmakers in Europe, where it may lose up to $600 million, even as rival General Motors Co joins forces with France's Peugeot in hopes of riding out the region's debt crisis and depressed auto market.

A four-legged robot known as the Cheetah lived up to its name on Monday, setting a new land speed record for legged robots by running at 18 mph on a treadmill at a laboratory in Massachusetts, its developer said.

International tax evasion by multinational companies that take advantage of tax-rate disparities among countries is on the rise, according to an international study group.

American International Group raised $6 billion through the sale of its stake in AIA Group, a move that allows the U.S. insurer to repay part of its government bailout.

AT&T Inc is in a tentative labor contract with the Communications Workers of America covering roughly 9,000 workers in five states, according to the company and the union.

Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry had anticipated, though still likely to deal a blow to the economies of New York City and New York state.

AT&T Inc is in a tentative labor contract with the Communications Workers of America covering roughly 9,000 workers in five states, according to the company and the union.

Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry had anticipated, though still likely to deal a blow to the economies of New York City and New York state.

Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry has anticipated, though still likely to deliver a blow to the economies of New York City and New York state.