IBT Staff Reporter

Cisco Systems Inc plans to invest or lend about $500 million in telecom operators and technology infrastructure in South Korea over the next five years, the country's presidential office said on Tuesday.

Futures for the S&P 500 and the Nasdaq 100 were up 0.05 percent and 0.2 percent, respectively, at 5:47 a.m. EDT, while futures for the Dow Jones industrial average were down 0.2 percent.

Dallas Federal Reserve President Richard Fisher said on Tuesday China would not do anything to harm U.S. interests such as dumping Treasuries, adding that solid capital returns support the dollar's attractiveness.

The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.

Swiss bank UBS said it will cut 240 jobs in Asia-Pacific to cut costs, as Asian economies slow in a global financial crisis.

Dallas Federal Reserve President Richard Fisher said on Tuesday that China would not do anything to hurt U.S. interests because the fate of the two economic giants was closely entwined.

The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.

Qantas Airways Ltd forecast on Tuesday its first second-half loss in six years and unveiled capacity and job cuts as Australia's biggest airline battles a slump in passenger demand and rising competition.

World stocks rose toward a three-month high on Tuesday after strong earnings from Goldman Sachs , while jitters about other corporate earnings kept government bonds and the low-yielding yen on a firm footing. Goldman surprised investors by posting a much higher than expected first-quarter profit and said it planned a $5 billion common share sale to pay back government funds. Other bank...

UBS , the world's biggest banker for the rich, will cut 240 jobs in Asia-Pacific across all business lines as part of a global cost cutting exercise, the bank said on Tuesday.

Dutch Philips Electronics NV said on Tuesday it would accelerate restructuring measures in the second quarter after its first-quarter results swung to a loss and missed analyst expectations.

Asian shares rose to a six-month high on Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst could be behind for U.S. banks, but plenty of concerns about the global economy still remain.

The Securities and Exchange Commission and New York state prosecutors are investigating whether investment firms made improper payments of millions of dollars to intermediaries to gain business from the state's pension fund, The New York Times reported on Tuesday.

The number of computer viruses is growing extraordinarily fast and shifting from phishing e-mails to being hidden in seemingly safe websites such as a local bed and breakfast, says Internet security company Symantec Corp in a new report on Tuesday.

The U.S. Securities and Exchange Commission is reviewing if Bank of America Corp violated federal securities law by failing to disclose to shareholders Merrill Lynch's plan to pay $3.62 billion in bonuses before they voted for the merger of the banks, the Financial Times said.

Dutch Philips Electronics NV said on Tuesday it would accelerate restructuring measures in the second quarter after its first-quarter results missed analyst expectations.

A lawyer for five investors claiming $64 million filed court papers on Monday that may force fraudster Bernard Madoff into personal bankruptcy, according to a Reuters.

Citigroup is considering the sale of several assets in Japan to raise cash besides retail brokerage Nikko Cordial which is already on the market, according to a report.

Investors are more confident in bonds from industrial companies than bank firms, according to data analysis released on Monday.

Youtube sticks on its privacy and policy where it has disabled upload and comments over a South Korean law requiring a users provide identification.

Asian shares rose to a six-month high on Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst could be behind for U.S. banks, emboldening investors to chase after riskier assets.

Even if rumors are off-base that Sun chief Executive Jonathan Schwartz is set to be replaced by chairman and co-founder Scott McNealy, Schwartz has “a lot riding on showing growth or an exit strategy,” an analyst says

Ford Motors shares were raise Monday after it planned to restructure its debt by 38 percent or $9.9 billion to bolster up its finance despite economic downturn and low demand.

Kaufman Bros. analyst Shaw Wu merited Apple by raising its stock target price, in a memo issued today the target price has been pushed to 27 percent from 120 to 152, identical to Caris & Co.'s Robert Cihra raised Apple stock target price from 120 to 150.

Boeing Co. shares fell more than 5 percent Monday, after a plan to cut its production schedule for 2010 due to the economic downturn and lower price demand, is likely just the beginning of a long downturn.

Yahoo shares rose Monday after reports that software maker Microsoft is discussing possible search and advertising partnerships with the Internet portal.

Intel Corp on Monday highlighted the combined work of its research arm and university staff and students to develop a Wireless Identification and Sensing Platform (WISP) that supports sensing and computing.

Chrysler's creditors plan to make a counteroffer to the U.S. Treasury this week, in which they might ask for equity in a firm combining Chrysler with potential partner Fiat SpA in exchange for concessions, the Wall Street Journal reported, citing people familiar with the matter.

Tech Mahindra, an Indian telecommunications outsourcing firm won a bid to buy Satyam Computer Services for $351 million.