IBT Staff Reporter

Ford Motor Co and its Chinese partner will announce plans on Friday for their third car manufacturing plant in China, where sales may soon outpace its existing capacity, an industry source said on Tuesday.

Stock futures pointed to a higher opening on Wall Street on Tuesday, with futures for the S&P 500 up 0.7 percent, Dow Jones futures up 0.6 percent and Nasdaq 100 futures up 0.7 percent at 4:56 a.m. EDT.

Foreign media in China have been targeted by emails laden with malicious computer software in attacks that appear to be tied to the run-up to the National Day military parade on October 1.

Say goodbye to the black brick laptop. The era of the plain, dowdy PC is officially over.

World stocks climbed and the dollar fell on Tuesday ahead of the Federal Reserve's two-day policy meeting, with investors' search for higher returns reflected in the New Zealand dollar's surge to 13-month highs.

Oil rose above $70 a barrel on Tuesday in a technical rebound after its 3.2 percent decline in the previous session, as traders watch for clues to the health of the global economy from a U.S. Federal Reserve meeting and a summit of G20 nations this week.

An adviser to the European Union's top court backed Google on Tuesday in a row with luxury goods maker LVMH over Internet advertising, saying the Web search firm had not infringed trade mark rights.

Ford Motor and its Chinese partner will announce plans on Friday for their third car manufacturing plant in China, an industry source said on Tuesday.

Asian shares edged higher on Tuesday, helped by gains in South Korean technology shares, while the New Zealand dollar surged to a 13-month high on signs of a recovery in prices for the country's key dairy exports.

Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.

The Federal Deposit Insurance Corp may ask healthy U.S. banks to lend billions of dollars to restore the health of the depleted fund that safeguards bank deposits, the New York Times reported, citing senior regulators.

President Barack Obama will broker his first summit of Israeli and Palestinian leaders on Tuesday but is given little chance of achieving a breakthrough toward relaunching long-stalled peace talks.

Honduras was deep in crisis after President Manuel Zelaya's surprise return to the Central American country raised the specter of violent street protests and a diplomatic fight with Brazil.

The Aussie dollar began the week on a softer note drifting lower in Asia from its early morning high around 0.8680 eventually testing support at 86 cents in early offshore trade. A move out of riskier assets heading into the FOMC meeting and a pullback in commodity prices weighed on the AUD which reached an eventual low around 0.8590. North American pared back some of the losses to push the Aussie dollar back to this morning's open around 0.8630 against the Greenback.

Bank of America/Merrill Lynch has appointed former top Goldman Sachs JB Were executive Craig Drummond to head its Australian operations, a top official said on Tuesday.

India's Bharti Airtel has offered to retain the top management at MTN for at least three years and given the option of an all-cash offer to minority MTN shareholders to sew up the planned tie-up between the two firms, the Economic Times reported on Tuesday.

Samsung Electronics, the world's biggest maker of memory chips, said on Tuesday it remains cautious about the sector's outlook even as the industry emerges from its two-year slump.

Plantation and palm oil processor Wilmar International is expected to spin off its China food operation, raising up to HK$27.3 billion ($3.5 billion) in a flotation of shares in Hong Kong in October, the Hong Kong Economic Times reported on Tuesday.

Business development company Fifth Street Finance Corp said it began a public offering of 4 million common shares and expects to use most of the proceeds to make investments in small and mid-sized companies.

Education Management Corp is set to price its planned $380 million IPO in early October and become the latest private equity-owned firm to go public during the current stock market rally.

A potential initial public offering of the Casa de Pedra iron ore mine owned by Brazilian steelmaker CSN would likely raise much more than $2 billion, the company's chief executive said on Monday.

Brazilian mining company Vale said on Monday it agreed with Germany's ThyssenKrupp Steel to increase its stake in steelmaker Siderurgica do Atlantico (CSA) to nearly 27 percent from 10 percent for 965 million euros ($1.42 billion).

Asian shares inched up on Tuesday with softer commodity prices weighing on Australian stocks, while the New Zealand dollar hit a 13-month high on signs of a recovery in prices for the country's key dairy exports.

Oil rose to $70 a barrel on Tuesday in a technical rebound after its 3.2 percent decline in the previous session, as traders watch for clues to the health of the global economy from a U.S. Federal Reserve meeting and a summit of G20 nations this week.

Oracle Corp Chief Executive Larry Ellison said Sun Microsystems Inc is losing about $100 million a month as European regulators delay approving his company's $7 billion purchase of the struggling hardware maker.

The global economic recovery is not only underway but it will most likely rebound more sharply than most forecasters expect, veteran economist Michael Mussa says.

Nortel Networks Corp, once North America's largest telecoms equipment maker, said on Monday that it will auction off software assets at its carrier division as it continues the process of selling its operation in pieces to pay creditors.

High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.

What could be the biggest U.S. IPO week in 18 months, expected to raise up to $9.1 billion, took shape on Monday after Spanish bank Santander , insurance risk specialist Verisk Analytics Inc and biotech Omeros Corp set terms of initial public offerings next month.