IBT Staff Reporter

Sumitomo Mitsui Banking Corp (SMBC) has expanded its carbon credit business by starting proprietary trading to stock credits for corporate customers, the bank said on Tuesday, becoming the first Japanese bank to do so.

The U.S. urban commercial real estate markets probably will not recover until 2017, the head analyst of commercial mortgages for Deutsche Bank Securities said on Monday.

Apple Inc Chief Executive Steve Jobs was at the company's headquarters on Monday, underscoring speculation the pancreatic cancer survivor may have returned to work.

Thomson Reuters' plan to cancel its London Stock Exchange listing prompted a jump in its shares on Tuesday, but the rally was tempered by fears some large UK shareholders will have to cut or sell their stakes.

Car makers are lobbying the European Union to delay an agreed 2011 ban on climate-damaging chemicals in car air-conditioners, a letter from auto industry group ACEA shows.

A stumble in sentiment punctured hopes of a rapid rebound from recession in the euro zone's services-led economy and the European Union and United States faced off against China in a looming trade dispute over raw materials.

President Barack Obama will throw his weight behind legislative bids to reform healthcare and cut U.S. greenhouse gas emissions on Tuesday in his fourth White House press conference since taking office.

Wall Street was set to rise at the open on Tuesday as investors sought bargains the day after stocks racked up their worst one-day loss in two months.

A new website wants consumers to browse virtual shelves of everything from diapers to shampoo, a move that if successful would mark a major shift in the way most Americans buy household products.

MySpace, the social networking website owned by Rupert Murdoch's News Corp, said on Tuesday it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

MySpace, the social networking website owned by Rupert Murdoch's News Corp, said on Tuesday it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

A stumble in sentiment dented hopes of a rapid rebound from recession in the euro zone's services-led economy and the European Union and United States faced off against China in a looming dispute over raw materials.

Oil rose above $68 a barrel on Tuesday, reversing earlier losses, supported by a weaker dollar and ahead of inventory data expected to show a fall in crude stocks.

Wall Street was set to rise at the open on Tuesday, the day after the worst one-day loss in two months, as Moody's Investors Service said the U.S. government was not in danger of losing its top rating.

Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe but added that it could be at risk if Washington were unable to bring its public debt back to a downward trajectory.

Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe but added that it could be at risk if Washington were unable to bring its public debt back to a downward trajectory.

Iranian authorities said they would teach a lesson to rioters held in the worst unrest to befall the country since the 1979 Islamic Revolution.

The U.S. Justice Department may drop a legal case aimed at forcing Swiss bank UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times reported on Tuesday.

MySpace, the social network owned by Rupert Murdoch's News Corp, said it plans to cut about two-thirds of its international workforce and close at least four of its offices outside the United States.

Oil fell below $67 a barrel on Tuesday as uncertainty over the state of the global economy hit equity markets and increased expectation that oil demand could be slow to revive significantly.

Toyota Motor Corp confirmed Akio Toyoda as its new president on Tuesday, promoting the grandson of the company's founder to guide the world's No.1 automaker through the worst downturn in its history.

China's economy is headed in the right direction but the foundations of the recovery are not yet solid, a Chinese central bank official said on Tuesday, adding to a chorus of voices cautioning against expectations of a rapid rebound from the global crisis.

Europe extended a global slide in equities and oil on Tuesday while the low-yielding yen hit a three-week high against the dollar as investors grew concerned about the prospect for global economic recovery.

The U.S. Justice Department may drop a legal case aimed at forcing Swiss bank UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times reported on Tuesday.

Oil steepened losses below $67 a barrel on Tuesday, after a fall of nearly 4 percent the previous day, as renewed worries over the uncertain outlook for major economies sparked a sell-off across global equity markets.

Asian stocks tumbled on Tuesday, as confidence in the recovery ebbed and falling commodity prices and a sharp drop on Wall Street spooked investors into taking profits and buying the yen for safety.

Ten-year old Yilong is already a statistic.

Rich and poor nations edged closer to a deal on proposals for reforming the global financial system, but diplomats said there would have to be changes if a U.N. conference this week is to adopt them.

The U.S. Justice Department may drop a legal case aimed at forcing UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times said, citing a United States official briefed on the matter.