Blackwater on defensive in Congress
U.S. security contractor Blackwater defended its role in Iraq on Tuesday but skeptical lawmakers took aim at the company over a series of incidents, including a September 16 shooting that killed 11 Iraqis.In a testy, partisan hearing, Democrats denounced the contractor for aggressive behavior. The State
HSBC's KEB bid enters anti-trust review
HSBC has applied for a review of its $6.3 billion purchase of a stake in Korea Exchange Bank (KEB) to South Korea's Fair Trade Commission, the anti-trust body said on Tuesday.
Home builder stocks rally
Home builder stocks rallied for a second consecutive day on Tuesday as investors gambled that the struggling U.S. housing market, with a chance of further interest-rate cuts, may have bottomed out and now is the time to buy, investors said.
China to switch to energy-efficient lightbulbs
China, which makes 70 percent of the world's lightbulbs, has agreed to phase out incandescent bulbs in favor of more energy-efficient ones, part of a push by a leading world environmental funding agency.
Climate change will alter world travel patterns
Global warming will produce stay-at-home tourists over the next few decades, radically altering travel patterns and threatening jobs and businesses in tourism-dependent countries, according to a stark assessment by U.N experts.
Market inches down with energy shares
Stocks edged lower on Tuesday as a drop below $80 a barrel in oil hurt energy shares, offsetting optimism about further interest rate cuts fueled by the latest disappointing news on housing.
Gold down nearly 3 percent on dollar strength, profit-taking
Gold fell 2.7 percent on Tuesday as a rising dollar prompted investors to take profits from the metal's 28-year highs, but analysts said the upward trend remained intact.
Qatar files OMX document, raises chance of bid war
The Qatar Investment Authority filed for regulatory approval to take a bigger stake in OMX on Tuesday, raising the prospect of a bidding war for the Nordic firm with rival Dubai and its ally Nasdaq.
TD Bank to buy Commerce Bancorp in $8.5 bln deal
Canada's Toronto-Dominion Bank will buy Commerce Bancorp Inc in a cash-and-stock deal worth $8.5 billion which will expand its footprint in the United States, the banks said on Tuesday.
Citigroup to buy rest of Nikko in $4.6 bln deal
Citigroup said it would buy out minority shareholders in scandal-hit Japanese brokerage Nikko Cordial Corp for $4.6 billion, as part of the financial giant's push into the world's second-largest economy.
Pending home sales fell 6.5 pct in August
Pending sales of previously owned homes fell by a larger-than-expected 6.5 percent in August as more borrowers seeking home loans were turned away by cautious lenders, a real estate trade group said on Tuesday.
'Virtual walk': Charity meets technology
Want to walk for a good cause but find yourself strapped for time or physically incapable? Welcome to the virtual walk where you can raise money for charity without ever stepping out the front door.
Global markets upbeat; hope for end to subprime mess
Global stocks hit a record high on Tuesday, lifted by financial companies after subprime losses detailed by big banks, including Citigroup Inc, raised hopes that the worst of the credit squeeze may be over.
Korean leaders begin summit
South Korea's president arrived in the capital of hermit North Korea on Tuesday to cheering crowds and an unsmiling leader Kim Jong-Il for only the second summit between Cold War-era foes who remain technically at war.
U.N. diplomat meets Myanmar military chief
U.N. envoy Ibrahim Gambari met Myanmar junta boss Than Shwe on Tuesday in a bid to end a bloody crackdown on the biggest democracy protests in 20 years, a diplomat said.
Nikkei Jumps 1.2 pct
Japan's Nikkei stock average rose 1.2 percent on Tuesday, clearing the 17,000 level for the first time in nearly eight weeks as gains on Wall Street and a softer yen pushed up exporters such as Sony Corp.
Oil Prices Plummet
Oil prices fell sharply toward $80 a barrel on Monday as investors took profits from the near-record highs of last week and weighed the threat of a deeper economic slowdown in the United States.
Platinum hits record highs
Spot platinum hit an intraday high of $1,391 an ounce and reached closer to last November's record high of $1,395. It was quoted at $1,390.70/1,397.70, versus New York's previous finish of $1,385/1,390.
Gold Jumps on Monday
Gold closed higher on Monday despite a strengthening dollar on speculation a slowing economy may force the Federal Reserve to cut interest rates further.
Directors see CEO pay still out of control-survey
Despite the recent requirement for companies to disclose more about executive compensation, a majority of corporate directors still feel that chief executive pay is out of control, a survey showed on Monday.
Ex-Dynegy execs settle fraud charges
The U.S. Securities and Exchange Commission said on Monday that three former Dynegy Inc executives settled charges for their role in a $300 million accounting fraud that involved disguising a loan as operating cash flow.
IMF must adapt and downsize or die, new boss says
The next head of the International Monetary Fund said on Monday that the multilateral organisation created to assist the world economy after World War Two needed to adapt to a new global economic order and downsize or die.
Clinton laugh, Giuliani phone stir U.S. campaign
What does Democrat Hillary Clinton's laugh have in common with Republican Rudy Giuliani's cell phone?Both are causing waves on the U.S. presidential campaign trail for the leading candidates in each party.
Fluor hits high after report on Kuwait refinery job
Shares of Fluor Corp rose to an all-time high on Monday, a day after reports that the big U.S. engineering and construction company was still in talks with Kuwait National Petroleum Co (KNPC) for parts of a tender for its planned 615,000 barrels per day al-Zour refinery.
U.S. stocks jump as Dow reaches record high
Stocks surged on Monday, sending the Dow to a record close on the first trading day of the fourth quarter, as investors bet that Wall Street may have seen the worst of the credit squeeze after three global banks detailed expected losses from the crisis.
Citi CEO under fire again
Calls for Chuck Prince's resignation grew louder after the largest U.S. bank warned of a steep profit drop in the latest quarter.
Wesfarmers-Coles combined revenue seen at $39 bln
Australian conglomerate Wesfarmers Ltd's takeover of retailer Coles Group Ltd would create a company with A$44 billion ($39 billion) in annual revenues and the country's largest private employer, documents showed on Monday.
Gold hits 28-year peak, platinum near all-time high
Gold closed higher in New York on Monday despite a strengthening dollar and weaker crude oil, as U.S. stocks rallied while platinum rose to a near-record high on robust investment demand.
Sony Financial prices $3 bln IPO at top of range
Sony Corp's financial arm will raise $3 billion after setting its IPO price at the top end of an indicated range as investors looked past the U.S. subprime crisis and bet on its growth potential in the banking and insurance markets.
Four banks sue S'pore brewer to recover gambling loss
Four foreign banks operating in Singapore began a lawsuit against Asia Pacific Breweries (APB) on Monday demanding the Tiger beer maker compensate them for losses arising from bogus loans to an ex-APB executive.
