IBT Staff Reporter

Almost two-thirds of investors expect Europe's banks to raise significant capital in the next year following a health check that forced little fundraising but showed up some weak spots, according to a survey.

DuPont said on Tuesday that its second-quarter profit nearly tripled due to double-digit sales across all five of its business segments.

European Union competition regulators launched two anti-trust investigations against International Business Machines Corp, suspecting it of abusing its dominant position in the mainframe computer market.

Protesters from environmental group Greenpeace disabled some of BP's 50 petrol stations in central London on Tuesday in protest at the Gulf of Mexico oil spill.

Upbeat corporate results from both sides of the Atlantic lifted U.S. stock index futures on Tuesday, setting up Wall Street for a fourth straight day of gains.

Chip designer ARM Holdings beat market profit expectations in the second quarter, helped by strong demand for smartphones, netbooks and tablet computers. The British company, whose designs are in more than 95 percent of the world's mobile phones, posted record pretax profit of 43.5 million pounds, up 167 percent, on revenue of 100 million pounds, both ahead of expectations.

Panic and fears over the future of US and European economies have become the best aphrodisiacs for gold, which has been in an uncertain zone for the past few weeks.

A increase in labour disputes between management and workers in China, mostly at foreign-owned factories in the southeast, has raised questions about the country's future as a low-cost manufacturing centre.

UBS flagged a return to client inflows by year-end as strong equities and currency trading gains helped it outdo Deutsche Bank and other rivals, which were hit hard by the European sovereign debt crisis.

Oil giant BP Plc launched a plan to repair its battered image in the United States on Tuesday, ditching its gaffe-prone chief executive and promising to slim down by trebling an asset sale target to $30 billion.

Upbeat corporate results from both sides of the Atlantic lifted U.S. stock index futures on Tuesday, setting up Wall Street for a fourth straight day of gains.

Results from two of Europe's top banks, UBS and Deutsche Bank reassured investors following last week's European Union tests of the sector's ability to withstand financial shocks.

BP on Tuesday confirmed that chief executive Tony Hayward will quit and said it would take a charge as a result of the Gulf of Mexico oil spill amounting to $32.2 billion.

Finally, the US housing sector is back on track posting a 24 per cent growth in June. June's rebound in new home sales should be viewed as a major boost to the US economy. But the problem is that any good news from the world's biggest economic power is a setback to the gold prices, which have been maintaining record levels in the recent past.

Gold held below $1,185 an ounce in Europe on Tuesday, supported by physical demand after this month's slip and a softer dollar, but with a dip in holdings of the largest gold exchange-traded fund undermining sentiment.

Oil prices were steady near $79 a barrel as the fading Tropical Depression Bonnie brought more output back online in the Gulf of Mexico, dampening otherwise buoyant sentiment following positive U.S. macroeconomic data.

The U.S. copyright office issued exemptions to a copyright law, giving legal protection for people who unlock their smartphones like Apple Inc's iPhone.

Toyota Motor Corp will likely be able to build the popular Prius hybrid car in the United States when it is remodeled next, a top executive said on Tuesday.

UBS outdid rivals thanks to strong investment banking revenues and shrinking client outflows, while Deutsche Bank held ground after a drop in loan loss provisions.

The euro hovered close to a two-month peak against the dollar on Tuesday, retaining support after last week's European bank stress tests revealed no horrors while increased demand for riskier assets weighed on the dollar.

World stocks hit a 2-1/2 month high on Tuesday while the euro held near a two-month peak versus the dollar as upbeat results from Swiss bank UBS added to a recent run of strong corporate earnings.

Strong equities and currency revenues drove UBS's second-quarter net profit well above forecasts despite choppy market conditions and client money withdrawals fell to their lowest level since early 2008.

Even after allowing unlimited gold imports, Vietnam is likely to face supply shortages as the country also exported around 36 tons of the precious metal in the first six months of this year. According to Vietnam Gold Business Association there will be a shortage in gold supplies for production in Vietnam.

Gold prices showed positive trends in Asian trade Tuesday mainly on a firm euro in an otherwise thin market. Gold for immediate delivery was seen trading at $1184.88 an ounce at 12.00 noon Singapore while U.S. gold futures for August delivery was at $1,184.2 an ounce at the same time.

BP Plc chief executive Tony Hayward will step down as head of the oil giant on October 1 and be replaced by fellow executive Robert Dudley.

Yahoo Japan, Japan's largest Internet portal site, appears set to adopt Google's search engine instead of teaming up with Microsoft like partner Yahoo Inc, media reported.

Two teenagers from the suburbs of Rome have become Italy's newest media heroines after their slang-filled account of a day at the beach shot from a minor item on the local news to become a YouTube sensation.

Asian stocks pulled back slightly from two-and-a-half month highs hit earlier on Tuesday after upbeat U.S. housing data, while the euro neared 2-month peaks on relief over stress tests on European banks.

Asian stocks rose to their highest in two and a half months on Tuesday, boosted by solid U.S. housing data, while the euro inched up toward two-month peaks on relief over stress tests on European banks.