IBT Staff Reporter

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UN seeks $35m bailout for Madagascar

The United Nations appealed a $35 million bailout to save lives in Madagascar where over 3 million people need help due to political instability and natural disasters.

GM, Segway unveil electric two-seater vehicle

Struggling General Motors Corp. is teaming with Segway, the scooter company, in a bid to answer consumers’ green transportation needs by developing a battery-powered vehicle that cuts through urban congestion and emits less pollution.

CEO confidence hits record low

Two-thirds of U.S. chief executives plan additional layoffs and expect sales to decline in the next six months as their confidence in the economy continues to fall, according to a survey released on Tuesday.

Oil falls nearly $2; eyes equities, inventories

Oil fell nearly $2 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

Oil falls nearly $2; eyes equities

Oil fell nearly $2 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

Airlines face losses as demand drops

The number of empty seats on planes flown by U.S. airlines is rising this year despite aggressive fare sales and capacity cuts, darkening the outlook for industry earnings in the first quarter and beyond.

Alcoa's Big Plans for 2009

As the effects of the receding economy hit aluminum giant Alcoa Inc hard with a $1.2 billion loss late last year, the biggest announcement for metal producer in the first three months of the new year was its plan to substantially reduce costs and raise cash by 2010.

Cisco, Dell unlikely to bid says analyst

Cisco System and Dell are unlikely to bid on Sun, nor are other possible suitors, analysts are predicting, following the reported breakdown of talks with Sun and IBM.

Wall Street slumps on earnings, GM anxiety

Stocks tumbled on Tuesday on jitters over what is expected to be another bleak earnings season and following news General Motors was said to be in intense preparations for a possible bankruptcy filing.

Oil falls below $50

Oil fell below $50 a barrel on Tuesday, tracking U.S. stock market losses ahead of what is expected to be a miserable first-quarter earnings season, while the market eyed another rise in U.S. crude inventories.

GM in intense bankruptcy prep: source

General Motors Corp is in intense and earnest preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

Obama in Iraq to push for political progress

President Barack Obama flew to Baghdad on Tuesday to meet U.S. military commanders and Iraqi leaders and assess security there first-hand after announcing a strategy to wind down the six-year war he opposed.

Wall Street slides as earnings, GM weigh

U.S. stocks fell on Tuesday as investors braced for what is expected to be another dismal earnings season and the specter of bankruptcy at General Motors resurfaced.

Emerson cuts profit view

U.S. diversified manufacturer Emerson Electric Co cut its 2009 profit forecast on Tuesday, saying that customers across its business segments had reduced their spending.

Goldman CEO says financial crisis deeply humbling

The chief executive of Goldman Sachs said on Tuesday the economic crisis had been deeply humbling for financial firms, and banks receiving taxpayer bailout money need to pay back the funds as soon as possible.

Kazakhstan says expects Obama to visit

U.S. President Barack Obama plans to visit Kazakhstan as part of a wider tour of Central Asia, Kazakhstan's upper house of parliament quoted him on Tuesday as saying.

Obama praises Islam, calls for Mideast peace

U.S. President Barack Obama ended his trip to Muslim Turkey on Tuesday by calling for peace and dialogue with Islam and the creation of a Palestinian state living side by side with Israel.

US moves to limit foreign IT workers

The United States has long served to draw top talent from other countries, particularly into its Information Technology sector, but a new push from lawmakers may limit the number of new workers that can enter the country.

OECD takes four tax havens off blacklist

Four finance centers blacklisted last Thursday in a renewed crackdown on tax fraud were taken off the list on Tuesday after committing to international standards on bank information disclosure.

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