IBT Staff Reporter

The euro hit a lifetime low against the Swiss franc and an 8 1/2-year trough versus the yen on Tuesday as stocks weakened and investors braced for a key euro zone refinancing programme to expire this week.

Europe told the G8 summit it may consider spending public funds to inject capital into banks depending on the outcome of stress tests now under way in the region, Japan's Nikkei business daily reported on Tuesday.

Japan's Nikkei average slipped 0.6 percent on Tuesday, erasing earlier gains as exporters fell on a stronger yen and charts remained grim, with the benchmark poised for its worst quarter since Lehman Brothers failed in 2008.

The euro slumped to a lifetime low against the Swiss franc and a 1-1/2-year trough versus sterling on Tuesday, stung by liquidity concerns before a key euro zone refinancing program expires this week.

The euro hit an 8 1/2-year low versus the yen on Tuesday as the single currency struggled broadly due to investor jitters about liquidity issues before a euro zone refinancing programme expires this week.

Asian stocks fell on Tuesday and were on course for their worst quarterly performance since the end of 2008, while funding concerns in the euro zone sent the single currency tumbling to a record low against the Swiss franc.

The Supreme Court on Monday struck down part of a law to prevent fraud committed by companies like Enron and WorldCom, saying a board to police public companies' auditors violated the Constitution.

The euro hit a lifetime low against the Swiss franc and a three-week trough versus the yen on Tuesday on funding jitters ahead of a deadline for European banks to repay money to the European Central Bank.

Asian stocks were on course on Tuesday for their worst quarterly performance since the end of 2008, as the tepid nature of rich world's recovery from global recession keeps investors on the defensive.

The yuan was little changed against the dollar in the onshore spot market and offshore forwards on Tuesday as investors saw little opportunity for the Chinese currency to appreciate sharply in the near term after the end of the G20 summit over the weekend.

Oil fell as much as 1.7 percent to below $77 on Tuesday as forecasts indicated tropical storm Alex would skirt the main production region in the U.S. Gulf of Mexico, limiting disruption there to a few precautionary shutdowns.

Gold bounced on Tuesday after a volatile session the previous day, when it nearly touched last week's all-time high before a firmer U.S. dollar triggered heavy selling from speculators.

The euro was under pressure on Tuesday, slipping against the yen and holding near its latest record low against the safe-haven Swiss franc as funding concerns in the euro zone made investors nervous.

Gold prices gained momentum on bargain hunting in Asian trade Tuesday despite broad drops by all major commodities. Gold for immediate delivery was seen trading at $1239.69 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,241.7 an ounce.

Baidu Inc, China's leading search engine, will start hiring software engineers directly from the United States early next month, as it seeks to expand its technological capabilities and raise its global profile.

To get an idea of how some U.S. textile mills can compete with developing-world rivals who pay far lower wages, roll a bowling ball down one of the production lines at Parkdale Mills' Walnut Cove yarn plant.

The international education industry expressed its worries on the slow demand of international students coming in to the country and is seeking a discussion with Senior Labor minister Simon Crean.

Barnes & Noble Inc reported a larger quarterly loss as it invested in its Nook electronic reader and e-books, and forecast a loss for its first quarter.

Australian Prime Minister Julia Gillard said she was confident of resolving a dispute with miners over a controversial tax, amid speculation she could call an election within weeks to capitalize on a government surge in opinion polls.

The International Monetary Fund said on Tuesday it had approved the disbursement of the delayed third tranche of a $2.6 billion loan to Sri Lanka.

The New South Wales will invest $439 million in education system's information technology and communication projects.

Controversies regarding Victoria's ambulance service has been raised again after a Kyneton woman was transported to a hospital in Melbourne after three and a half hours.

Curtin University is holding a Healthy Roads initiatives to lessen the fatalities and injuries on the road.

Enbridge said on Monday that it declared force majeure on its offshore Nautilus natural gas pipeline system after some Gulf of Mexico producers shut in supply as a precaution against Tropical Storm Alex.

Recognition has been given to secondary school teachers across the State for mentoring hundreds of University of Adelaide student teachers, who may become future educators.

A Queensland Brain Institute neuroscientist received an honor for his research into attention deficit hyperactivity disorder (ADHD) from the Academy of the Social Sciences in Australia (ASSA).

The U.S. Supreme Court unanimously rejected on Monday an effort to patent a way to hedge energy costs, but declined to shut the door on business method patents, saying the current criteria may be too narrow.

At a time when Chinese power plants are notorious polluters, Yingli Green Energy, a Chinese solar panel maker, has become an completely integrated manufacturer selling green energy worldwide.

The AUD has finished marginally lower as the currency followed the movements of US equity markets during the offshore session.