IBT Staff Reporter

Asian shares fell for a second straight session on Tuesday as some of the confidence that fueled a rally in stocks to seven-month highs was undermined by reports highlighting economic weakness.

Bank of America sold about $7.3 billion worth of shares in China Construction Bank , Bloomberg reported citing two people familiar with the transaction, as the struggling U.S. bank seeks to raise money amid the financial crisis.

American International Group Chief Executive Edward Liddy will speak out against criticism of the insurer's employees on Wednesday and talk about the company's future plans, the Wall Street Journal said.

Software piracy grew last year, accounting for 41 percent of all PC software installed, with losses to companies estimated at $53 billion, the Business Software Alliance said on Tuesday.

Asian shares fell for a second consecutive session on Tuesday as some of the confidence that fueled a recent rally was dampened by reports that highlighted the weakness in the global economy.

MBIA Inc , once the largest U.S. bond insurer, reported Monday it had swung to a first-quarter profit after a huge year-earlier loss, sending its shares up 18 percent in after-hours trade.

Media mogul David Geffen tried to buy a stake in the New York Times Co from hedge fund Harbinger Capital Partners, but was rejected, a source with knowledge of the matter said on Monday.

Oil prices fell for a second straight day on Tuesday, consolidating after touching a six-month peak last week, on weaker equities and a firm dollar.

Federal Reserve Chief Ben Bernanke on Monday said that the recently completed stress tests are not all that banks should do to keep track of their risks.

Government stress tests of how 19 major banks would endure a sharp downturn in the economy already appear to be helping banks gain access to private capital, a key element in economic recovery, Federal Reserve Chairman Ben Bernanke said on Monday.

Cleantech companies received less than half venture capital (VC) investments in the first quarter of 2009, according to an industry analysis, but the industry looks forward for government funds for recovery.

The Nikkei average fell 0.7 percent on Tuesday after booking a six-month closing high the previous day, with bank shares such as Mitsubishi UFJ Financial Group taking a breather following sharp gains fueled by optimism about the U.S. banking system.

Four large U.S. banks which passed the U.S. government’s economic stress test last week announced plans today to sell up to $6.5 billion in common stock to the public and repurchase preferred stock and warrants issued by the Treasury department under the TARP financial bailout.

The U.S. Air Force on Monday said it was working with Lockheed Martin Corp and Boeing Co to harvest for future use any government-owned property or ground stations developed for a canceled satellite communications program.

MBIA Inc , once the largest U.S. bond insurer, reported Monday it had swung to a first-quarter profit after a huge year-earlier loss, sending its shares 26 percent higher in after-hours trade.

Digital Globe Inc, a satellite image provider, is set to debut on the New York Stock Exchange on Thursday with a planned $250 million IPO offering.

The oil giant, Petrobras, on Monday said its first quarter net profits fell 20 percent or $2.83 billion as the global demand in oil slashes in the current economic downturn.

(In the final paragraph please correct to read ...seeking to derail the plan, not ...seeking details of the plan, as first sent)

Lenovo announces its latest netbook, the Ideapad S10-2 featuring 3G connectivity and, at 1-inch thick and weighing less than 2 pounds, is smaller and lighter than its predecessor, the IdeaPad.

Millions of children in Mexico returned to school on Monday to freshly cleaned and disinfected classrooms following more than two weeks of closure caused by the swine flu outbreak.

High-profile New York lawyer Marc Dreier pleaded guilty on Monday to criminal charges of running a $400 million investment fraud involving fake promissory notes, and a judge released him into house arrest until sentencing.

The United States said Monday that it would provide $4.9 million in emergency aid to help the refugees displaced by the current anti-Taliban offensive in northwest Pakistan.

Palm is expected to launch its highly anticipated Palm Pre smart phone on June 7 and it will also be the first major phonemaker to integrate wireless charging into its products

Palestinian President Mahmud Abbas asked Prime Minister Salam Fayyad Monday to form a new government including Abbas' Fatah party and left-wing organizations.

On Monday, NASA astronauts said they will send tweets you from outer space to answers question and give updates from its space shuttle mission.

High-profile New York lawyer Marc Dreier pleaded guilty on Monday to criminal charges of running an investment fraud in the hundreds of millions of dollars involving fake promissory notes.

Hedge fund manager William Ackman introduced shareholders on Monday to his five nominees for the Target Corp board, promising their expertise could make the retailer a better company.

Saya the teacher doesn't mind being poked or pinched, or if the students play in class: she's an android designed to show children that science and technology can be fun subjects.

GenCorp’s Aerojet on Monday said it has launched the last STS-125 Spaced Shuttle Atlantis mission with its engines to service Hubble Space telescope and will be used for landing.