IBT Staff Reporter

Nokia Siemens Networks (NSN) will object in bankruptcy court to Ciena's $769 million purchase of Nortel's optical networking and carrier ethernet business, and is ready to raise its offer to $810 million in cash, a Nokia Siemens spokesman said on Tuesday.

The New York Power Authority on Tuesday issued a request for proposals for the development of 120 to 500 megawatts of offshore wind power projects in the state waters of Lake Erie and/or Lake Ontario.

The death of Argentinean supermodel Solange Mangano, who in 1994 was crowned Miss Argentina, has caused a polemic in the fashion industry after a cosmetic surgery on her buttocks lead to her tragic death.

Fiat SpA Chief Executive Sergio Marchionne hinted that government targets of a boost in production to 900,000 vehicles a year in Italy were achievable, but said he still planned to end car output at a Sicily plant.

The new chief of the International Atomic Energy Agency (IAEA), Japanese diplomat Yukiya Amano, took office on Tuesday, replacing Egyptian diplomat Mohamed el Baradei who has been serving the agency for 12 years.

U.S. Housing Still Growing; Kraft Still the Favorite; Dubai Crisis Ups Risk Awareness

The U.S. manufacturing sector grew for the fourth straight month in November, though at a slower pace, and questions remain about the staying power of the incipient economic recovery.

Shares in German truckmaker MAN fell over 4 percent on Tuesday on market talk it may be pressured by major investor Volkswagen to make a bid for Scania.

Markets stabilized further in the Tuesday session with the dollar sliding against the majors, while global equity bourses rallied and spot gold surged to a new record high above the $1,200 per ounce level. Tokyo's Nikkei index climbed by over 2.4% on Tuesday while Germany's DAX index rallied by nearly 2.7% and the Dow Jones improved by more than 1.5% by afternoon trading. Philadelphia Fed President Plosser delivered an optimistic assessment on the economy earlier, expressing his confidence that...

U.S. stocks climbed on Tuesday as a weak dollar boosted natural resource companies' shares and housing data reassured investors about the recovery.

General Motors Co said on Monday it delivered 151,427 vehicles in the United States in November.

The Federal Reserve must be prepared to raise interest rates if necessary before the jobless rate has fallen to acceptable levels, or risk losing its inflation-fighting credibility, a senior Fed official said on Tuesday.

General Motors Co posted a 2.2 percent drop in U.S. sales in November from a year earlier, weighed down by brands it plans to divest or close, and said it would raise production in North America by about 75 percent in the first quarter.

When U.S. retail chains report November sales this week, investors will learn whether they have gone far enough to protect profits against a weak start to the holiday shopping season.

Data released on Monday suggested that the US is weaning out of its worst recession since the Great Depression, though the speed of that growth remains suppressed.

Newer American cars will likely be able to handle higher ethanol blends in their gasoline but the decision to approve an industry request to change the fuel mix will have to await final testing next year, the U.S. Environmental Protection Agency said on Tuesday.

U.S.-based liquidity provider Knight Capital Group has opened an emissions trading desk, with Daniel G. Braun appointed head of carbon trading, the company said on Tuesday.

For anyone trying to understand why the United States is having such a hard time joining an international effort to combat global warming, a short drive west from Washington to one of the smaller states in the country might explain a lot.

Reports that News Corp and Microsoft were in talks for an exclusive deal that would exclude Google are overblown, a source close to the situation said on Tuesday.

Northrop Grumman Corp unveiled Tuesday an industry-academic research group to tackle growing cyber threats to U.S. computer networks and to networked infrastructure.

The tour -which starts January 2, 2010 in Dallas - will feature the songs from Nick Jonas & The Administration's Who I Am album due out on February 2. Their first single is schedule for release tomorrow.

The benchmark contract for European Union carbon emissions futures rose two percent on Tuesday after a fairly steady morning's trade as oil prices firmed, traders said.

Millions of Germans will pay more for their electricity despite sharply lower fuel prices, footing the bill for utilities' losses, renewable energy and higher transmission grid charges.

Nick Jonas, the younger member of pop teen trio Jonas Brothers announced he will kick off a solo tour in 14 cities in the U.S. early next year.

Geely, the Chinese carmaker picked as the preferred bidder for Ford Motor's Volvo unit, is seeking at least $1 billion in loans from Chinese banks to finance its $1.8 billion bid, sources said on Tuesday.

Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.

Mexico's antitrust watchdog is fining media giant Televisa almost $4 million for refusing to let a cable operator transmit its channels, the latest in a push to boost competition in the sector.

Microsoft users claimed on Tuesday that they have been left with a black screen of death after running a Microsoft security update on their computers, according to reports. Microsoft has not yet released an official statement as to the cause of the Black Screen of Death, which results in a totally black screen, only saying it is investigating the issue.

Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.