IBT Staff Reporter

Egyptian President Hosni Mubarak vowed to step down at the next election, would stay on to enact reforms in the next few months, and said authorities would pursue those responsible for destructive acts and looting and violence during the protests.

France's Sanofi-Aventis has agreed to raise its bid for Genzyme Corp to the low $70s-per-share range, plus a milestone payment based on the performance of an experimental drug, a source familiar with the situation said.

The U.S. would be foolish not to support the formation of a new democracy in Egypt, says Rutgers University political science professor and Middle Eastern specialist, Eric Davis.

The Dow and S&P 500 closed at their highest levels since June 2008 on Tuesday and looked poised for more gains after strong earnings and signs of a surge in U.S. manufacturing.

The manufacturing sector grew at its fastest pace in nearly seven years in January and signs of inflation jumped more than expected as a recovery in the world's biggest economy gained traction.

Pfizer Inc is to close its research and development center in Sandwich, southern England, which employs 2,400 people, dealing a major blow to Britain's scientific jobs base.

The Dow and S&P 500 closed at their highest levels since June 2008 on Tuesday and looked poised for more gains after strong earnings and signs of a surge in U.S. manufacturing.

(Corrects that Pfizer bought Wyeth in late 2009, not last year, paragraph 8; error also occurred in previous updates)

Apple says it's enforcing a rule that could impact the Sony Reader and Kindle apps.

U.S. auto sales jumped by about 18 percent in January, led by gains for General Motors Co and Chrysler as the two Detroit automakers restructured by the U.S. government took share from rivals.

BP's partners in Russian joint venture TNK-BP on Tuesday won an injunction halting the British oil giant's planned Arctic exploration partnership with Rosneft .

Egyptian President Hosni Mubarak is expected to say he will step down at the next election while U.S. President Barack Obama has told him he should not run, according to reports.

The Optimus 3D, the first 3D-equipped phone, will be unveiled at this years Mobile World Congress, LG says.

U.S. stocks climbed on Tuesday on signs U.S. manufacturing surged and Pfizer Inc and UPS Inc posted strong results, sending indexes above key levels as market momentum strengthened.

Roughly 18,000 foreigners and Egyptians face food shortages and police corruption at Cairo airport.

The U.S. manufacturing sector grew at its fastest pace in nearly seven years in January and signs of inflation jumped more than expected as the world's biggest economy gained traction.

U.S. stocks, led by Pfizer and Bank of America, surge.

Procter & Gamble Co is consolidating its three global units into two as Vice Chairman Robert Steele prepares to retire later this year.

France's Sanofi-Aventis has agreed to raise its bid for Genzyme Corp to the low $70's per share range, plus a milestone payment based on the performance of an experimental drug, a source familiar with the situation said.

U.S. stocks climbed on Tuesday as the market's focus shifted to signs of economic strength and away from geopolitical concerns.

Samsung issues a correction on widely-reported error.

General Motors Co posted a 22 percent rise in sales for January, outperforming expectations for the market as a whole on gains in demand for its pickup trucks.

President Barack Obama will meet with a group of technology company chief executives on Tuesday as part of his effort to mend ties with the business community and find ways to create jobs.

BP's existing Russian partners won a UK court bar on its planned Arctic oil venture with state-controlled Rosneft on Tuesday, prompting conciliatory offers from the British oil company.

A lawyer of UK-based law firm ACS: Law has withdrawn from pursuing alleged illegal file-sharers, citing death threats from hackers.

DLA Piper is all set to emerge as the largest law firm in the world in terms of revenues and the number of lawyers, after it merges with its Australian partner DLA Phillips Fox.

United Parcel Service, the world's largest package delivery company, reported a quarterly profit that beat estimates and forecast record-high profits in 2011, sending its shares up more than 4 percent.

BP, which announced it would pay dividends on its stock this morning, won't be able to this month due to a move by the Alfa-Access-Renova consortium

U.S. construction spending unexpectedly fell in December to touch its lowest level in nearly 10-1/2 years as investment in both public and private projects declined, suggesting the sector would continue to struggle this year as federal stimulus spending tapers off.