IBT Staff Reporter

Oil prices rose above $72 a barrel on Tuesday, paring gains after earlier jumping more than 2 percent on unprecedented Asian trading volumes.

Iraq will auction off eight giant oil and gas fields on Tuesday in its first major tender since 2003, giving oil firms a foothold in a country that may hold some of the world's largest untapped energy reserves.

Belgium-based RHJ International is close to a deal to buy a stake in Opel after talks between parent General Motors and preferred bidder Magna International hit snags, the Financial Times reported.

Asian stocks rose on Tuesday, the last day of a torrid quarter, as investors added to trades based on a rebound in economic activity, while funds slashed bets against a fall in oil prices to keep crude on track for its biggest quarterly gain in 19 years.

Japan pledged to prop up loss-making chip maker Elpida Memory Inc with up to $1.7 billion in public and private capital and loans, the country's first capital injection in a company since the financial crisis.

Asian stocks and the Australian dollar rose on the last day of the second quarter, as investors kept adding to bets global economic activity is rebounding, having driven Chinese shares to the highest in a year.

Oil prices jumped more than 2 percent to an eight-month high above $73 a barrel on Tuesday, as a sudden spike in Brent buying pinned on fund positioning ushered out the market's best quarterly gain since 1990.

General Motors Corp will end its partnership with Toyota in a joint partnership, the company announced on Monday.

Michael Jackson's mother Katherine on Monday won temporary guardianship of the late singer's children and control of his estate as a legal battle over his kids, money and belongings began to take shape.

Cisco Certified Internetwork Expert (CCIE) is no longer the highest certification offered by Cisco as it announced today the Cisco Certified Architect (CCA) Certifications as the new highest level of accreditation achievable within Cisco Career Certifications.

Online retailer Amazon.com is pulling the plug on its Internet associates program in Rhode Island in retaliation for potentially having to pay a new sales tax to the state, its second such move in a week.

The parents of Pop icon Michael Jackson claimed Monday in court papers that their son died intestate, meaning he left no valid will.

China's steel giant, Ansteel, got government approval from China for an A$162.06 million ($130.69 million) share placement with Australian iron ore miner Gindalbie Metals Ltd, a spokesman with Ansteel said Last Saturday.

President Barack Obama, fresh from his first legislative victory on climate policy, expressed confidence on Monday that new greenhouse gas emission limits would become law with help from the U.S. Senate.

Enterprise Products Partners LP said on Monday that Teppco Partners LP had accepted a sweetened $3.3 billion takeover bid in a deal that will form the largest publicly-traded U.S. pipeline network.

Bernard Madoff was sentenced on Monday to 150 years in prison -- the maximum penalty the judge could give him for extraordinarily evil crimes in Wall Street's biggest and most brazen investment fraud.

Ortronics/Legrand Showcases Layer Zero Solutions, an additional layer to the traditional network architecture that adds strength at the ongoing event of Cisco Live 2009 in San Francisco, California.

Ford Motor Co said on Monday it expects to gain U.S. market share in June as its sales would hold up much better than the rest of the industry and signaled its increasing confidence by raising production.

I always know when it’s time for me to pack up the rucksack and hit the road again. It’s not when the tan lines fade, nor when the 9-5 grind starts to get me down, nor even when I start spending my lunch hour in travel agencies just looking at photos in their brochures.

Sony is once again considering combining a cell phone with its Playstation PSP portable gaming console which could compete with Apple's iPod and iPhone, according to a report in Japan's Nikkei Business Daily.

Internet social network powerhouse Facebook has hired the former chief financial officer of Genentech as its CFO, filing a spot that has been empty for about three months.

Farrah Fawcett's funeral will be held at the Catholic Cathedral of Our Lady of the Angels in Los Angeles, California on Tuesday, Reuters reported citing church officials.

Julius Genachowski, a telecommunications industry executive, was sworn in as the new chairman of the Federal Communications Commission on Monday, an agency spokesman said.

Companies in Hong Kong will be allowed to use Renminbi (RMB) to settle trades with their counterparts in five major Chinese cities as soon as next month, People's Bank of China (PBOC) and Hong Kong's monetary jointly announced on Monday.

Google on Monday launched a new search service designed to provide users with information via SMS text message to mobile phone users in Africa.

I woke up at three in the morning, hurting, having a headache and hungry. The sand was uncomfortably hot, my body and my mind so tired. I must have fallen asleep, at least for a few hours.

Stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.

People's Bank of China (PBOC) is taking more moves to challenge the greenback's role as the international currency and to promote RMB's real international trade.

President Barack Obama and his administration said today household and commercial lamps and lighting will face new rules to save energy and reduce carbon dioxide emissions.