IBT Staff Reporter

Gulf markets tumbled again on Tuesday, taking no comfort from Dubai World's plan to restructure about $26 billion of its estimated $59 billion in liabilities, which appeared to calm global fears of contagion.

A disbarred Florida lawyer accused by the FBI of running a $1 billion investment scam is expected to be arrested Tuesday on racketeering conspiracy charges, The Miami Herald reported.

Oil steadied at above $77 a barrel on Tuesday, after a rebound of 1.6 percent in the previous session, as Dubai debt default fears eased and investors cast about for fresh clues to the pace of global economic recovery.

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.

Geely, the Chinese carmaker tagged 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.

Efforts by Dubai World to restructure about $26 billion in debt out of the estimated $59 billion it owes reassured investors that the emirate's debt problems can be contained, helping global markets edge higher on Tuesday.

Online Sales May Hit Record; GE-Comcast JV Closer to Reality; Recovery Encourages

General Electric Co and Vivendi SA have agreed in principle to a deal in which GE would buy the French company's 20-percent stake in NBC Universal for $5.8 billion, a source familiar with the matter said on Monday, paving the way for Comcast Corp's proposed joint venture with GE.

Apple has seen about 60,000 units of iPhones sold in South Korea on its debut on Saturday, which is pretty good as the nation has already reported 400,000 smartphones sales in the third quarter.

The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed short sales of homes and other loan modification alternatives to stem a rising tide of foreclosures.

The internal watchdog for the U.S. Securities and Exchange Commission is probing whether enforcement staff committed acts of negligence in conducting an insider trading investigation.

Online retail sales on Cyber Monday are set to reach a new record, with rivals Amazon.com Inc and Walmart.com set to be the prime beneficiaries, according to industry experts.

Adam Lambert's controversial performance at the American Music Awards has lead Disney-ABC Television Group to reconsider the way it prepares for live performances to be aired on national television.

The dollar fell broadly on Monday after a pledge to support Dubai's banks eased investors' concerns about the Arab emirate's debt problems, wiping out a safety bid for the greenback and driving it down against a currency basket for a fifth straight month.

Chipmaker Broadcom Corp said on Monday it agreed to buy privately held Dune Networks for around $178 million in cash in a move to bolster its portfolio of network equipment products.

A decision on possible criminal charges over the June death of Michael Jackson is months rather than weeks away, the Los Angeles Times on Monday quoted law enforcement sources as saying.

Tiger Woods pulled out of a golf tournament this week, the latest fall-out from a minor car accident that has left a swirl of mystery and a hint of scandal around the world's top golfer and pushed him into full damage control.

ABC television can wait 12 to 15 months before it decides how to fill the gap left by daytime TV queen Oprah Winfrey, who plans to end her talk show in 2011, said Disney/ABC Television Group president Anne Sweeney.

Rachel Uchitel, the alleged mistress of golf world champion Tiger Woods, has also been romantically involved with many celebrities and baseball players, BlackBook Magazine reported.

Taiwan's Information Technology (IT) Month 2009, one of its biggest computer and IT products trade shows, has generated sales on the first two days that were up 20 percent year on year, according to the Taipei Computer Association (TCA), the organizer of the event.

Forest Oil Corp said it agreed to sell its remaining Permian Basin properties to SandRidge Energy Inc's unit for about $800 million, as it looks to focus on shale assets and repay debt.

Canadian advertising agency Cossette Inc said on Monday it has accepted a sweetened bid from U.S. private equity group Mill Road Capital and it continues to recommend that its shareholders reject an unsolicited takeover proposal from Cosmos Capital.

The Dubai government said on Monday it was not responsible for the debts of Dubai World, dealing a blow to creditors' assumptions that the Arab emirate would guarantee the conglomerate's liabilities.

OmniVision Technologies Inc, which makes semiconductor image sensor devices, posted better-than-expected second-quarter results but forecast a weak third quarter, sending its shares down 10 percent in extended trade.

Belgian discount supermarket chain Colruyt reported an 8 percent rise in first-half net profit and repeated its forecast for a more modest rise in full-year net profit.

Belgian holding company RHJ International reported a narrower first-half operating loss on Monday and a rare net profit due to one-off gains from industrial activities it ultimately plans to divest.

The Airbus A400M will cost the seven countries buying the military transport an additional 7.4 billion euros for the 180 aircraft on order, Les Echos newspaper reported in a preview of the front page of its Tuesday edition.

It's the Ford Mustang against the Chevy Camaro in a race for muscle car sales dominance, and Ford is aiming to take the lead with gas mileage.

Scotland's First Minister Alex Salmond has launched plans for a referendum next year, seeking for independence from the United Kingdom.