IBT Staff Reporter

A Microsoft document format that may be adopted as an international standard this weekend is a ploy to lock in customers, who could lose control over their own data in a worst-case scenario, critics say.

Home Depot Inc said on Tuesday it agreed to cut the price of its supply division sale to buyout firms by $1.8 billion, as a housing market drop and a credit crunch forced all sides to renegotiate. As part of the new agreement, Bain Capital Partners, The Carlyle Group and Clayton, Dubilier & Rice will pay $8.5 billion for the division.

Holders of about 8 million shares in Magna International class A stock, or about 8 percent of the total outstanding, have confirmed they voted against a plan to sell 20 percent of the auto-parts maker to a Russian billionaire, the Globe and Mail newspaper said.

Pharmacy-benefits manager Medco Health Solutions Inc. said on Tuesday it agreed to buy PolyMedica Corp. for $1.2 billion, in a move to expand its diabetes care services.

OPEC Secretary-General Abdullah al-Badri said on Tuesday that the subprime crisis in financial markets has made it very difficult for the group to gauge demand for crude but supply levels were adequate for now.

Since taking the helm at Taiwan's top PC maker two years ago, J.T. Wang has trumped his opponents by building Acer Inc into the world's No.3 computer maker.

Shares in Taiwan's Acer Inc fell sharply on Tuesday after investors chafed at the premium the PC maker was paying for loss-making U.S. rival Gateway to gain the spot as the world's No. 3 maker.

Institutional money manager State Street Corp faces $22 billion exposure to asset-backed commercial paper conduits, the off-balance sheet vehicles that have caused problems for rivals in recent weeks, British newspaper The Times reported.

Hewlett-Packard Co said on Monday it is launching a $300 million marketing campaign to promote Web-based printing services as it seeks new uses for printers, the company's most-profitable business.

Internet TV, mobile TV and video on demand may be the talk of the technology sector but when it comes to buying decisions at this week's IFA electronics fair, television sets are set to be bigger business than ever.

NYSE Euronext and Australia's ASX Ltd may be interested in buying part of Nasdaq Stock Market Inc's 31 percent stake in London Stock Exchange Plc, a person familiar with the matter said.

Oil prices held around $72 on Tuesday, with U.S. refinery shutdowns reviving supply concerns just as peak summer driving demand draws to a close.

The yen rose while high-yielding currencies came under pressure on Tuesday as concerns over the health of the U.S. economy weighed on global equities, prompting investors to trim exposure to risky assets.

Stock index futures fell on Tuesday due to renewed global credit concerns and caution ahead of reports on home prices and consumer confidence. Banking stocks took an early beating after MarketWatch reported that Merrill Lynch had downgraded to neutral from buy investment banks Bear Stearns Cos., Lehman Brothers and Citigroup.

With the Made in China brand under threat, steering the world's third-largest exporter through the public relations minefield of food and product safety is one of its leaders' biggest immediate tasks.

Frantic Greek villagers fled as fire engulfed their homes, farms and forests on Tuesday in an inferno that has killed 63 people and prompted public outrage at the government's handling of the crisis.

Taliban insurgents will release all 19 South Korean Christian volunteers they have held hostage in Afghanistan since mid-July, South Korea ' s presidential Blue House said on Tuesday.

Video-sharing Web site YouTube has met with harsh criticism in Germany for hosting clips that incite racial hatred, according to a news report due to be broadcast on German public TV late on Monday.

Procter & Gamble Co said on Monday it sued Kraft Foods Inc. because it claims a new plastic container for Kraft's Maxwell House coffee infringes a patent for P&G's Folgers coffee.

U.S. aviation authorities have ordered emergency inspections of newer model Boeing Co. 737 jetliners in response to last week's explosion and fire that destroyed a China Airlines plane in Japan, officials said on Monday.

Taiwan's Acer announced on Monday that it has agreed to acquire U.S.-based Gateway for $710 million, zooming past China's Lenovo to become the world's third largest computer maker behind U.S. makers Hewlett-Packard and Dell.

Oil prices rose on Monday as refinery outages in the United States stoked supply concerns again as the end of the summer driving season neared.

Former Treasury Secretary Lawrence Summers said on Sunday the risks of a recession are greater now than at anytime since the September 11 attacks due to real estate and mortgage market troubles.

Citigroup Inc is combining two groups of traders focused on global credit markets, which have been in turmoil this month.

Restaurant company Dunkin' Brands Inc. said on Monday that all menu offerings in its Dunkin' Donuts restaurants will have zero grams of artery clogging trans fat by October 15 this year.

The world's biggest casino opens in Macau on Tuesday, the most ambitious throw of the dice yet in a $24 billion effort to build a Las Vegas-style neon alley in this once-sleazy Chinese gambling enclave.

U.S. stocks fell on Monday after data showed the number of unsold homes reached its highest level in more than 15 years in July, adding to concerns about the housing market and consumer spending. Bank shares fell on nagging credit worries after Goldman Sachs slashed its earnings forcast on Lehman Brothers, Bear Stearns and Morgan Stanley.

Investor confidence in the economy deteriorated in August to its lowest level in a year, as the growing housing turmoil compounded worries over high energy prices, a survey showed on Monday.

Wal-Mart Stores Inc is hiring middle-management level executives to help evaluate the type of stores that it operates ahead of the arrival of British grocery Tesco to the United States.