IBT Staff Reporter

Craigslist is firing back at its rival and minority owner eBay, scolding the online auctioneer's actions as unethical and smelling of a hostile takeover.

Connaught Plc, provider of integrated services to the private and public sector, said on Tuesday it had delivered record revenue and profit growth in the six months ended on 29 February 2008, thanks to strong organic growth and new acquisitions.

Associated British Foods Plc (ABF) has reported a 5.0 per cent increase in pre-tax profit, taking company profits up to £282 million for the 24 weeks ended 1 March 2008.

The Competition Commission (CC) has said that BAA's common ownership of seven UK airports may not be serving well the interests of either airlines or passengers. The CC made the statement as part of its interim report on an investigation into the market for the supply of airport services by BAA.

Microsoft started testing its new way of selling Office software suite on a subscription basis using the new program that it launched on Friday, which involves packaging the Office suite with security software and free online services.

Microsoft has released what will likely be its last major update for Windows XP, announcing it has released it Windows XP Service Pack 3 (SP3) to manufacturing channels.

Intrepid Potash Inc, which produces the potassium compound for fertilizer, jumped more than 60 percent on its first day on the open market as investors bet on a boom for agricultural products.

Google was sued on Tuesday in a federal court for allegedly deceiving an advertiser and charging for adverts displayed on third-party websites, which the advertiser never asked.

By Dan Denning With the housing slump still rolling downhill, the Dollar had just made a record low against the Euro, with the European currency rising above $1.59.

China reported on Tuesday that its shipment of weapons bound for Zimbabwe is likely to return following the refusal of port workers in Southern African countries to have access to its ports.

EBay sued Craigslist on Tuesday alleging that the classifieds company unfairly tried to dilute the online auctioneer's stake in it.

Medco Health Solutions Inc. said Tuesday it extended its contract to provide pharmacy benefit services to health insurer UnitedHealth Group Inc.

Boeing CEO Jim McNerney told employees on Tuesday that while the production strategy for the 787 Dreamliner is fundamentally sound, the company expects to modify its approach somewhat on future programs.

Microsoft Corp.'s Tellme subsidiary launched an application for the BlackBerry on Tuesday that lets people speak commands into their smart phones to search for businesses, look up movie times, check traffic and make other queries.

News Corp. plans to buy Long Island's Newsday newspaper which belongs to Tribune Co. for $580 million, anonymous sources said today.

Shares of Sirtris Pharmaceuticals rose as much as 80.46 percent to $22.07 in after trading hours on Tuesday in the New York Stock Exchange as healthcare group GlaxoSmithKline Plc. entered into a definitive agreement to acquire Sirtris for $720 million in a cash tender offer of $22.50 per share.

Sony Corp. of America said on Tuesday it will acquire Gracenote Inc. a company that provides music recognition technologies for about $260 million.

Cerner Corp. announced its earnings on the first quarter were of $39.1 million or 47 cents a share surpassing forecasts of analysts who expected 44 cents a share.

Fast-food company Yum Brands Inc. reported a 31 percent jump in first-quarter profit on Tuesday, citing robust growth in its China and international divisions and steady results in the U.S.

Energy giant ConocoPhillips said it expects to seal a $10 billion sour gas deal with Abu Dhabi National Oil Company, the world's third largest oil exporter, according to media reports.

Apple Inc is expected to report a profit for its second fiscal quarter on Wednesday that will top the company's usually conservative guidance but the stock has been on a roller coaster the past two days as investors react to differing analysts' views.

EBay, the Internet auction leader, filed a suit on Tuesday against the Founder and CEO of web classified ads site Craiglist, alleging that their recent actions have unfairly diminished eBay's partial ownership of the site.

Internet giant Yahoo announced a profit for the first quarter that more than tripled from last year, but most of the one-time gain was from its stake in Chinese business-to-business Web site Alibaba.

Corn rallied following a government report that said seeding of grain in the U.S. is slower than expected, and a forecast for wet weather in the main growing region signaled a further delay in planting.

Google was ranked the world's most powerful brand for the second time, after the firm dominated the online advertisement industry across the globe.

Gold futures surged on Tuesday after crude oil hit a new record high and the dollar dropped to a record against the euro, boosting the appeal of the precious metal.

Sony BMG revealed on Tuesday that it will join Universal Music Group in a partnership that will allow users of certain mobile phones to access its entire music catalog by the end of the year.

Soaring fuel prices led three of the largest U.S. airlines to report substantial quarterly losses on Tuesday, with UAL Corp, parent of United Airlines, posting its largest loss since in two years and will shrink its domestic business this year, in line with plans at other airlines.

The dollar fell to a new low against the euro on Tuesday, crossing the $1.60 per euro mark, after European Central Bank officials signaled that growing inflation may force the bank to boost interest rates.