IBT Staff Reporter

South Korea's largest carmaker, Hyundai Motor Co Ltd, posted a steeper-than-expected 23 percent decline in domestic sales in May as competition stepped up, pulling its shares to a three-week closing low.

General Motors will invest an additional 700 million reais ($384.62 million) to modernize and boost production at a plant in Brazil, one of the world's largest auto markets, the company said on Monday.

Fears oil may continue spewing into the Gulf of Mexico for another two months into the hurricane season wiped $23 billion off BP's market value on Tuesday and sent the cost of protecting its debt soaring.

Web search group Google Inc is phasing out internal use of rival Microsoft Corp's Windows operating system because of security concerns following a Chinese hacking incident, the Financial Times reported on Tuesday.

The pace of China's factory output eased last month as gradual policy tightening took a toll on new orders, suggesting to some economists that Beijing will take its time before nudging interest rates higher.

French firms are counting on sport and porn to lure viewers into buying 3D TV sets, but mass adoption of the new technology will come only when viewing comfort improves and prices fall, experts say.

Stock index futures indicated a drop of more than 1 percent at the open on Tuesday as a slowdown in Asian manufacturing added to doubts about the pace of an economic recovery.

The prices of wheat, rice and sugar remained steady during the last week in India, said state run prices movement observer, the Department of Consumer Affairs on Tuesday. According to data released by the Department of Consumer Affairs, prices of wheat and rice remained steady at most of the reporting centres. Prices of wheat decreased at Ludhiana and Rajkot and increased at Jammu, Mumbai and Chennai.

Dubai Holding's main unit posted a $6.2 billion loss for 2009 and said it may resort to asset sales, sending shares in Dubai sharply lower, in the latest setback to the emirate's troubled finances.

The proposed introduction of a bank levy and possible ways to control cross-border capital flows will top the agenda at this week's G20 finance ministers meetings, host South Korea said on Tuesday.

Stock index futures pointed to a sharply lower open on Wall Street on Tuesday following a long holiday weekend, as mounting doubts over the pace of the global economic recovery hit stocks worldwide.

Honda Motor Co made little progress on Tuesday in resuming production at a parts factory in south China after a prolonged and high-profile strike that has highlighted growing labor unrest in the region.

The euro fell to a 4-year low against the dollar on Tuesday as fears the euro zone's debt crisis could spread to its banking system hit the single currency, while deteriorating sentiment supported the greenback.

World oil prices advanced past the $74 a barrel mark Tuesday mainly after positive results in Chinese factory data that eased concerns on Euro zone worries. Light sweet rude for July delivery was seen trading at $74.35 a barrel at 11.00 a.m Singapore time while Brent crude was at $74.56 a barrel at the same time in London. Analysts said Euro zone economic sentiment unexpectedly fell last month, an indication that the region's debt crisis has begun affecting the real economy.

Honda Motor Co made little progress on Tuesday in resuming production at a parts factory in south China after a prolonged and high-profile strike that has highlighted growing labor unrest in the region.

World's largest populated country, China has identified potato as the ideal crop that could help it alleviate poverty and serve as a bulwark against famine. China is facing a huge challenge of feeding a growing nation on a shrinking supply of arable land while confronting severe water shortages has long been a major concern here. That prompted the dragon nation to look for other sources apart from rice and wheat that consumes less water but yield far more calories per acre.

Latin America's number one gold producer, Peru is expected to fully recover from a recent slump in output once production starts at the Minas Conga gold mine. According to Peru's mining ministry, country's gold production fell 4.23% during the first four months of 2010 compared to the same period last year. . In April, yellow metal production was down 20.6% year-on-year.

Gold prices extended gains in Asian trade Tuesday mainly on geopolitical tensions that boosted its appeal as a safe haven investment asset. Gold for immediate delivery was seen trading at $1222.11 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,220.40 an ounce.

Hitachi Ltd , Japan's largest electronics maker, said on Tuesday that it is reviewing the structure of its nuclear power partnership with General Electric Co , as it seeks to win more deals globally.

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AstraZeneca's drive to extend the life of its blockbuster acid reflux drug Nexium through new uses was set back on Tuesday after U.S. regulators delayed approval of a drug combining it with aspirin.

Good morning dear traders, .... there is not much to report of yesterday´s trading day as there have been only little trading chances due to very low volatility in the markets.

World stocks fell on Tuesday and the euro slipped closer to a four-year low against the dollar as expectations that slowing growth in China and the euro zone would hamper the global economic recovery hit risky assets.

American International Group said it would not consider revising the terms of a deal for its Asian life insurance unit with British insurer Prudential Plc, in a move that threatens to derail the industry's largest ever transaction.

American International Group will not cut the terms of the $35.5 billion takeover deal previously agreed with British insurer Prudential Plc, potentially threatening the deal.

Honda Motor Co made slow progress on Tuesday in bringing production back at an unusually prolonged and high-profile strike at a parts factory in south China.

The financial cost of tackling the oil spill in the Gulf of Mexico, the worst in U.S. history, now stands at $990 million, BP said on Tuesday as it prepared for a new attempt to control the flow of oil this week.

The euro and Asian stocks slipped on Tuesday on creeping suspicion that a peak in the recovery has passed and slowing growth in China and Europe in the second half of the year will be obstacles to risky trades.

President Barack Obama will meet with the leaders of a panel he created to probe the worst oil spill in U.S. history on Tuesday, as a giant slick from BP's blown-out Gulf of Mexico well poses a new threat to the coasts of Mississippi and Alabama.