IBT Staff Reporter

An engine deal from Abu Dhabi's Etihad Airways worth more than $5 billion could be the biggest news to come from this week's Paris Air Show, where the global recession has frozen sales of planes from Airbus or Boeing Co.

Stocks rose on Tuesday as renewed U.S. dollar weakness lifted shares of oil and other natural resource companies, but concern that the pace of the economic recovery may be tepid limited a broad advance.

Smithfield Foods Inc posted a smaller-than-expected quarterly loss on Tuesday on better-than-anticipated margins in its hog and pork businesses, but high feed costs weighed on results.

Stocks headed for a higher open on Tuesday as renewed U.S. dollar weakness lifted shares of natural resource companies, while a rebound in May housing starts added to signals that the economy could be stabilizing.

Jefferies & Co raised its price target on Microsoft Corp's stock to $26 from $22 and recommended buying shares of the world's largest software company ahead of a possibly large, rapid corporate PC upgrade cycle starting in late 2010.

Britain aims to provide universal broadband access by 2012 to make the country more competitive, it said on Tuesday, as it outlined its vision for a digital future that could require money taken from the BBC.

The government of Newfoundland and Labrador has signed a memorandum of understanding with a consortium that includes Exxon Mobil Corp to develop the 220-million barrel Hibernia South oil field off the Canadian province's North Atlantic coast.

The head of German chemicals company Bayer said debt reduction and securing liquidity was taking precedence over acquisitions during the economic crisis, the Sueddeutsche Zeitung reported on Tuesday.

The Obama administration is pushing tough reforms for credit rating agencies and wants them to differentiate between corporate bonds and mortgage-backed securities -- a measure long opposed by Wall Street and the real estate finance industry.

U.S. producer prices rose by less than expected in May despite a jump in gasoline costs, government data on Tuesday showed, while prices compared with a year ago notched their steepest fall since 1949.

Best Buy Co Inc maintained its forecast for the year after posting lower first-quarter earnings on Tuesday, dragging its shares down 3.5 percent even though the profit topped analysts' expectations.

Social networking service Twitter delayed a planned upgrade to avoid cutting daytime service to Iranians who have been using it to coordinate protests against a disputed presidential election.

Freddie Mac (FRE.N) (FRE.P), the second largest U.S. home funding source, hopes to name a new chief executive officer and a finance chief next month, the Wall Street Journal said.

New U.S. housing starts and permits rebounded in May from record lows as ground-breaking for multifamily units surged after tumbling the prior month, a government report showed on Tuesday.

Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3 percent.

Stocks rose on Tuesday as renewed U.S. dollar weakness lifted shares of oil and other natural resource companies, while a rebound in May housing starts reinforced hope that the economy could be stabilizing.

Gov. Sarah Palin said Tuesday she accepts David Letterman’s apology for the sexually charged joke he made about her daughter.

Credit card consumers have difficulty finding details about their debt on statements, results of an international study show.

Giant hog and pork producer Smithfield Foods Inc , posted a smaller-than-expected loss for the quarter as the high cost of feed battered its hog production unit, the nation's largest.

Stock index futures edged higher on Tuesday as renewed U.S. dollar weakness lifted shares of natural resource companies and investors set their sights on key housing and inflation data due out before the bell.

North Korea said on Tuesday that two U.S. journalists it sentenced to 12 years of hard labor were trying to slander the state, giving its first detailed account of the case that worsened ties with the United States.

Israeli Prime Minister Benjamin Netanyahu's keynote speech on Middle East peace this week received massive support from the Israeli public but they do not think it will further its aim, a poll showed on Tuesday.

Indian Prime Minister Manmohan Singh, holding his first meeting with Pakistan's leader since last year's attacks on Mumbai, asked him to ensure militants could not operate from Pakistani territory.

Yemen said Tuesday it was offering a reward of $25,000 for information leading to the capture of kidnappers thought to have shot foreign hostages.

Microsoft is taking a novel approach to promote business-to-business products by featuring Jack Welch, former CEO of General Electric, and his wife, Suzy Welch, in a series of reality videos online.

Iran's top legislative body on Tuesday ruled out annulling a disputed presidential poll that has prompted the biggest street protests since the 1979 Islamic revolution but said it was prepared for a partial recount.

The U.S. economy will likely begin to recover in the third quarter and housing may hit its long-expected bottom in the following quarter, a UCLA Anderson Forecast report released on Tuesday said.

Stock index futures edged higher on Tuesday as renewed U.S. dollar weakness lifted shares of natural resource companies and investors set their sights on key housing data due out before the bell.

Former Presidential candidate Sen. John McCain bought the new 2010 Ford Fusion, a mid-size hybrid sedan.