IBT Staff Reporter

U.S. food makers H.J. Heinz Co and Hormel Foods Corp said they expect sales to rise in the coming months as they spend more on marketing to win the attention of recession-weary consumers who are dining at home instead of eating out.

The U.S. Federal Reserve this month asked banks that were part of its stress tests to submit plans to repay government money, if they have not already repaid it, a person familiar with the situation said on Tuesday.

The European Commission closed antitrust proceedings against Qualcomm as big technology companies dropped their four-year old complaints against the U.S. mobile chip supplier.

U.S. stocks fell on Tuesday, a day after the Dow hit a 13-month high, after data showed the economy grew in the third quarter, but at a slower rate than expected.

A deal by General Motors Co to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure.

The U.S. economy grew more slowly than first thought in the third quarter, but a fifth month of gains in house prices in September and an improvement in consumer morale signaled the anemic recovery was intact.

Black Friday 2009 deals are everywhere online and now Apple has jumped onto the retailer's haven bandwagon with its TGI Apple Black Friday 2009 specials. The Apple Black Friday 2009 Ad Flyer has been leaked online to BGR and according to the source, online shoppers are in for great deals.

Apple iTunes on Tuesday began featuring downloads of live concerts by about 20 artists who are promoted by Live Nation.

Luxury goods sales will return to growth next year with profitability increasing more than revenues thanks to strong cost containment policies in 2009, according to a Bank of America Merrill Lynch report.

U.S. consumer confidence edged higher in November after an unexpected drop in October, with less consumers expressing doubt about the a worsening jobs market, according to a report released on Tuesday.

The U.S. government insurance fund used to safeguard bank deposits dropped to a balance of negative $8.2 billion in the third quarter, the first time since 1992 that it had a negative balance, the Federal Deposit Insurance Corp said on Tuesday.

Vimpelcom, Russia's No.2 mobile phone operator, reported a 107.5 percent rise in third quarter net profit as the rouble firmed versus the same period of 2008 when it suffered a massive foreign exchange loss.

South Africa's fixed-line phone group Telkom's plan to launch a new mobile phone business next year is not expected to boost profit significantly, an analyst said on Tuesday.

The fund used to safeguard U.S. bank deposits dropped to a negative balance of $8.2 billion in the third quarter, the first shortfall since 1992, the Federal Deposit Insurance Corp said on Tuesday.

A deal by General Motors Co to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure.

Finnish mobile phone maker Nokia Oyj said on Tuesday it planned to cut 220 research and development jobs in Japan as it focused on launching fewer, but more iconic, phones.

Talison Lithium Ltd, one of the world's leading lithium producers, plans an initial public offering (IPO) on both the Australian Stock Exchange and the Toronto Stock Exchange, the company said late on Monday.

China Investment Corp (CIC), the country's sovereign wealth fund, has agreed to buy $400 million worth of shares from China Longyuan Power Group's $2.2 billion Hong Kong initial public offering, a source close to the deal said on Tuesday.

Bank of Montreal reported a higher-than-expected quarterly profit on Tuesday and said it was buying the Diners Club North America credit card business to double its corporate card portfolio.

Canada's MKS Inc's second-quarter profit rose 19 percent, helped by higher maintenance revenue, and the software and services provider appointed a new chief executive.

Shoe retailer DSW Inc doubled its quarterly profit that beat estimates, as its discounted boots appealed to bargain-hungry consumers looking to equip themselves for the cold weather, and it raised its full-year outlook for the second time in a little more than a month.

Britain's Shire has asked the EU to officially allow people to take its new Gaucher disease drug, it said on Tuesday, providing hope to sufferers of the disease as supplies of a rival drug start to run out.

Green Mountain Coffee Roasters Inc raised its all-cash offer to buy Diedrich Coffee Inc by $2 a share, overshadowing rival Peet's Coffee & Tea Inc's enhanced bid.

Medtronic Inc posted quarterly profit and sales ahead of analyst estimates on demand for its devices that protect against irregular heart rhythms.

Japanese electronics maker Panasonic Corp and its rival Sanyo Electric Corp Ltd have won U.S. antitrust approval to merge, the Federal Trade Commission said on Tuesday.

Pressure is growing on BHP Billiton to return billions of dollars of retained earnings to shareholders, but the top global miner is unlikely to succumb until the fate of a planned iron ore joint venture with rival Rio Tinto is known.

The U.S. government insurance fund used to safeguard bank deposits dropped to a balance of negative $8.2 billion in the third quarter, the first time since 1992 that it had a negative balance, the Federal Deposit Insurance Corp said on Tuesday.

Galleon Group hedge fund founder Raj Rajaratnam, accused in one of the biggest insider trading cases ever, on Tuesday gave a detailed denial of the charges and said government wiretaps violated his constitutional rights.

Stork Craft Manufacturing Inc. is voluntarily recalling 2.1 million cribs after four suffocation deaths in the U.S. were linked to drop-down sides cribs, the Consumer Product Safety Commission announced yesterday.