COMPANIES

The cost to General Motors Co of keeping its European Opel unit could run $1.45 billion higher than the overly optimistic estimate prepared by the automaker in June, according to a report from a financial adviser presented to GM's board on Tuesday.

Programmable chipmaker Altera Corp raised its sales outlook for the third quarter, saying market conditions were improving, with the decline in the telecommunications sector turning out to be more moderate than expected.

Food and household products makers are rethinking the way they work with suppliers to trim costs and get a first crack at new products, as they try to increase sales in mature industries.

Kraft Foods Inc shares fell about 5 percent in heavy trading on Tuesday, a day after the giant U.S. food company went public with a $16.7 billion takeover bid for Cadbury PLC, which the British candy maker rejected.

Wireless networking chipmaker Atheros Communications Inc said it agreed to acquire semiconductor company Intellon Corp for about $244 million in cash and stock, and raised its third-quarter outlook.

Sprint Nextel Corp hopes to lure customers from rival service providers with a special $100 service credit for new subscribers who buy Palm Inc's Pre, essentially giving the device a 50 percent price cut a few months after it started selling the phone.

Kraft Foods Inc is once again turning to Europe to try to boost sales and improve margins, hoping to convince Cadbury to accept a buyout that could start a new round of food industry consolidation.

The U.S. Federal Communications Commission needs to make improvements in several areas, including cyber security, as it prepares to deal with national emergencies, top officials said on Tuesday.

Tepid demand for mortgage refinancing slowed the early repayment of most U.S. bonds backed by home loans in August, with the spring rush having run its course and unlikely to resume without new record low mortgage rates.

Metallurgical Corp of China Ltd plans to raise as much as $5.3 billion in its initial public offering (IPO) in Shanghai and Hong Kong, making the biggest IPO in 18 months in Hong Kong and the second biggest IPO on the Chinese mainland this year.

The board of General Motors Co convenes in Detroit this week for the second time since the automaker emerged from bankruptcy under mounting pressure to reach a deal on the future of its Opel business.

Smithfield Foods Inc reported on Tuesday a larger-than-expected first-quarter loss due to low hog prices and a drop in pork sales because of the H1N1 flu and the recession.

Verenex Energy Inc said on Tuesday the international arm of China National Petroleum Corp ended a C$446 million ($417 million) agreement to acquire the Canadian oil producer after Libya's government refused to approve the deal.

Casino operator Las Vegas Sands Corp said on Tuesday it closed the sale of $600 million in bonds ahead of an expected initial public offering of one of its units on the Hong Kong Stock Exchange.

Opexa Therapeutics Inc said on Tuesday further analysis of clinical data shows that more than 83 percent of patients taking its experimental multiple sclerosis drug remained relapse-free after a year, more than doubling the value of the company's shares.

Honda Motor Co will maintain the target for lease sales of its newest fuel-cell car after over a year since its launch despite the challenge of boosting productivity, the model's chief engineer said.

UBS has put some of its worst problems behind it but still needs to work hard to rebuild its badly damaged reputation, the Swiss bank's chief executive told employees in an internal memo on Tuesday.

Deutsche Telekom AG and France Telecom SA plan to merge their British mobile units, responding to intense competition with a venture that would grab top spot in the crowded UK market.

Smithfield Foods Inc reported on Tuesday a larger-than-expected first-quarter loss due to low hog prices and a drop in pork sales because of the H1N1 flu and the recession.

Credit Suisse downgraded American International Group Inc to underperform from neutral, saying near-term sale of businesses would leave little to no value for common equity holders.

International Business Machines Corp on Tuesday repeated that it expects to earn at least $9.70 a share this year.

Roche Holding AG named the architect of its integration with Genentech to head its drugs business, closing a $47 billion buyout that sets the U.S. biotech at the heart of the Swiss group's growth plans.

Facet Biotech Corp said on Tuesday it has rejected an unsolicited bid by Biogen Idec Inc to acquire Facet for $14.50 a share, saying the offer is inadequate and not in the best interests of shareholders.

Airbus on Tuesday rejected U.S. calls to renounce government loans for its next airliner after the WTO gave a preliminary ruling against earlier loans, while a Boeing executive hit out at unfair subsidies.

Research in Motion Ltd Co-Chief Executive James Balsillie increased his bid for the bankrupt Phoenix Coyotes ice hockey team by $30 million to $242.5 million, court documents showed.

Royal Bank of Scotland has appointed Goldman Sachs to consider a sale or other options for RBS Aviation Capital, one of the world's biggest plane leasing businesses, a person familiar with the matter said.

Samoa is about to become the first nation in nearly 40 years to switch the side of the road that traffic drives on, and the reasons are primarily economic.

Alfa Romeo, the sporty saloon car maker owned by Fiat (FIA.MI), expects to sell up to 120,000 cars this year, up 11 percent from 2008, its chief executive said on Tuesday.

German carmaker BMW (BMWG.DE) said its sales fell 9.7 percent in August from the year-earlier period, to 91,790 units, and said it was