IBT Staff Reporter

Oil held above $74 on Tuesday, as investors tracked a potentially catastrophic hurricane threatening Central America and OPEC stuck to supply curbs ahead of its meeting next week.

The yen strengthened on Tuesday as softer equity markets ahead of a flurry of U.S. data signaled a return to risk aversion for nervous markets, leading investors to unwind carry trade positions.

Usually derided as teetering on the tip of irrelevance, this year's Asia-Pacific leaders' summit in Sydney hopes to rise above its reputation for glacial action and have a real impact on the course of climate change. Leaders gathered for the meeting hope to build on June's G8 summit, in which nations agreed to consider a 50 percent cut in emissions by 2050 and build momentum ahead of a U.N. climate change meeting later this month.

Now with directorial clout, British filmaker Ridley Scott remakes the movie he made 25 years ago.

Nokia Siemens Networks (NSN) said on Monday it had reassured customers over the merger that created the telecom equipment maker, after uncertainty dented sales in the second quarter.

The television industry is ready to deliver a host of new ways to experience video from high-definition (HD) TV to Internet and mobile TV but manufacturers are frustrated at a lack of political impetus.

TVs usually dominate Europe's largest consumer electronics show but many gadgets in Berlin this week aim to make life simple and more beautiful too.

Plasma television technology has a bright future despite an onslaught on its home turf from rival LCD (liquid crystal display) TVs, makers of plasma screens told Reuters at the IFA consumer electronics fair in Berlin.

Hollywood studios are becoming deeply divided over which high-definition technology will replace the DVD, increasing prospects that it will be years before next-generation players become standard equipment in U.S. households.

Manufacturers at Europe's biggest consumer electronics touted their green credentials in vain to customers more interested in bigger and brighter screens.

President George W. Bush hopes to spur momentum for a world trade pact and a global target on climate change at this week's APEC summit in Sydney, but host Australia has warned not to expect binding greenhouse targets. The Asia Pacific Economic Co-operation (APEC) summit will draw 21 leaders including Bush.

Britain's leading shares rose on Monday in thin volumes as comments by Barclays eased concerns over its financial health, helping to underpin financial stocks.

Intesa Sanpaolo, Italy's biggest retail bank, is in exclusive talks with a group of small Italian banks in the bidding for nearly 200 outlets, a financial source said on Monday confirming newspaper reports.

Australian construction firm Leighton Holdings Ltd said on Monday it will pay about A$870 million ($707 million) for a 45 percent stake in Dubai-based Al Habtoor Engineering as it continues to expand in the lucrative Gulf market.

World stocks made small gains and currency markets traded in a narrow range on Monday as many investors avoided taking strong positions during the U.S. Labor Day holiday with its accompanying lack of key economic news.

European plane-maker Airbus expects Chinese airlines will need up to 150 of its jets over the next five years, including its giant A380s, as Chinese airlines expand to serve a domestic and international travel boom.

Nintendo Co Ltd's video game console Wii outsold Sony Corp's PlayStation 3 by a ratio of three to one in Japan in August, but Nintendo's overwhelming lead in the market narrowed for the second consecutive month.

U.S. health authorities have extended by three months their review of Astellas Pharma Inc's application for fungal drug Mycamine to be used for additional indications, the company said on Monday.

State-owned Qatar Investment Authority, which has offered to buy British supermarkets chain J. Sainsbury Plc, has raised a $3 billion loan as a warchest for investments, bankers said on Monday.

Trade diplomats returned to the negotiating table on Monday for practical and business-like talks about the compromises needed to clinch a new global free trade accord this year.

China's biggest chipmaker, Semiconductor Manufacturing International Corp, is in advanced talks to acquire Japanese tech giant NEC's China venture to boost scale in the country's competitive chip market, two sources familiar with the situation said on Monday.

The planned merger of Gaz de France and Suez to create one of Europe's largest energy groups has once more underlined President Nicolas Sarkozy's determination to keep a firm hold on French industrial policy.

Exchange owner OMX said on Monday that daily trading on its exchanges reached a new high in August, eclipsing a record set in February of this year.

Qatar National Bank (QNB) said on Monday it agreed with partners to set up a bank in Syria, the latest Gulf lender interested in entering the country since it opened its banking market to foreigners three years ago.

Germany's IKB said on Monday it would return to its small-company lending roots, and expects to lose nearly $1 billion this year after its U.S. subprime investments turned sour.

Shares in Britain's Barclays Plc, battered over the past two months, rose more than 3 percent on Monday after a weekend charm offensive helped further ease concerns over the bank's financial health.

Iraq's parliament must overcome major disagreements over control of the world's third biggest oil reserves before it can pass a vital oil law to lure billions in foreign investment, Iraqi officials said on Monday.

China said on Monday none of its massive foreign exchange stockpile was invested in the teetering U.S. subprime mortgage sector, while a top EU official predicted the crisis would not choke off economic recovery.

U.S. Gulf of Mexico oil and natural gas producers were monitoring powerful Hurricane Felix as it churned through the Caribbean Sea on Sunday, but none had reported reduced offshore production or evacuated workers to onshore locations.