IBT Staff Reporter

Toyota Motor Corp. said Tuesday it will invest $214.6 million to raise annual vehicle output capacity at a joint venture plant in north China.

Gold fell the most in two weeks on Tuesday as the U.S. dollar rebounded against the euro, hindering the investment demand for the precious metal.

Billionaire investor Carl Icahn has bought as much as 3.6 percent of Yahoo and is considering mounting a proxy fight for the Internet portal, according to people who have spoken with him, CNBC reports.

EchoStar Corp. swung to a first-quarter profit in its first quarter as a public company on revenue from providing satellite services to sibling Dish Network Corp, the company reported on Tuesday.

California and Florida are driving losses in Bank of America's global-consumer and small business banking segment, said the president of the unit on Tuesday.

South Korea has approved a plan on Tuesday that will allow BlackBerry electronic devices to be sold in the country, following a two-year effort by the Canadian company with SK Telecom and the Korean Government.

Abbott Laboratories said its medical trial shows that its Xience Eluting coronary stent system delivers clinically superior benefits for patients compared to the Taxus paclitaxel-eluting coronary stent system from Boston Scientific Corp.

European aircraft manufacturer Airbus on Tuesday admitted further delays in the delivery of its A380 super-jumbo jet, saying that the projected production timetable needs more time and resources to produce the world's largest passenger aircraft.

U.S. stocks fell at Tuesday's start, after the government said soaring fuel prices did not hinder consumers from shopping as much as expected and Oppenheimer & Co.'s Meredith Whitney cut profit projections for Wall Street's biggest securities firms.

Wal-Mart Stores reported a profit and revenue which matched analysts estimates, however its shares fell as the company anticipates possible flat sales in the coming quarter. Wal-Mart Stores, Inc said profit grew nearly 7 percent in its first quarter as sales grew 10 percent despite the slowdown in the U.S. economy.

Hewlett-Packard's services sales will more than double from fiscal 2007 after its acquisition of EDS with combined yearly revenues of $38 billion, the company said on Monday.

Westpac Banking Corp entered into an agreement to buy the smaller St. George Bank Ltd for A$18.6 billion ($17.6 billion) in an all stock deal to create the largest Australian home lender and one of the biggest banks by market value.

The dollar was slightly higher against the euro on Tuesday, ahead of speeches from Federal Reserve who may shed light on the chances for further cuts in interest rates or a pause.

The former chief executive and major stakeholder insurer in American International Group Inc Maurice Greenberg called on the company to delay this week's annual meeting.

Forest Laboratories Inc. ended its agreement with Daiichi Sankyo Co Ltd to help promote Sankyo's pill Azor for blood-pressure, the companies said in a press release.

Toyota has delayed plans to begin production at a new auto assembly plant in Mississippi after considering the slowing U.S. economy, a senior Toyota executive said on Monday.

India's biggest drug manufacturer Ranbaxy Laboratories Ltd. and Merck & Co. agree to develop new anti-infective products, the companies reported in a statement on Monday.

Copper futures rallied on Monday as the dollar fell rising demand of the red metal as a hedge against inflation and a strong earthquake in China made investors speculate whether production may be affected.

U.S. network NBC confirmed on Monday that former Saturday Night Live comedian Jimmy Fallon will take over Conan O'Brien's late-night TV slot next year.

U.S. stocks rose the most in a week on Monday, in anticipation of better-than-estimated earnings while oil retreated from record highs, and a late afternoon report that Hewlett-Packard Co. is near a deal to buy Electronic Data Systems Corp. for as much as $13 billion.

Shares if Chinese stocks listed in the U.S. fell on Monday after an earthquake in central China killed nearly 9,000 people.

Shares of Pipex Pharmaceuticals Inc., developer of neurologic and autoimmune diseases treatments, jumped on Monday as it announced it has obtained an orphan drug designation for one of its drugs to cure a deadly pulmonary disease.

Hewlett-Packard confirmed that it is in advanced talks to acquire technology services firm Electronic Data Systems Corp in a deal, with reports saying the deal could be worth between $12 billion to $13 billion.

Apple Inc. said Monday its iPhone's are currently unavailable'' from its online store in the U.S. and U.K. and did not say when it will replenish its inventory, which is fueling rumors that a new improved version of the iPhone will soon be launched.

Crude oil fell on Monday from a record over $126 a barrel as slumping crude imports from China concerned investors that recent high prices may be weighing on demand.

Gold fell in New York as the dollar rose against the euro and a retreat in oil prices reduced the demand for the metal as a hedge against inflation.

XM Satellite Radio Holdings Inc. reported a wider first-quarter loss on Monday in spite of adding more subscribers.

Losses at phone carrier Sprint Nextel grew in the first quarter as the company lost over 1 million contract customers.

Shares of Clear Channel Communications Inc. surged as much as 18 percent on media reports of settlement talks with six banks on a proposal to finance the radio and media company's buyout by Thomas H. Lee Partners and Bain Capital.