MARKETS / FINANCE

Wall Street was set to rise at the open on Tuesday as investors sought bargains the day after stocks racked up their worst one-day loss in two months.

A stumble in sentiment dented hopes of a rapid rebound from recession in the euro zone's services-led economy and the European Union and United States faced off against China in a looming dispute over raw materials.

Oil rose above $68 a barrel on Tuesday, reversing earlier losses, supported by a weaker dollar and ahead of inventory data expected to show a fall in crude stocks.

Wall Street was set to rise at the open on Tuesday, the day after the worst one-day loss in two months, as Moody's Investors Service said the U.S. government was not in danger of losing its top rating.

Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe but added that it could be at risk if Washington were unable to bring its public debt back to a downward trajectory.

Moody's Investors Service said on Tuesday that the U.S. government's triple-A credit rating was safe but added that it could be at risk if Washington were unable to bring its public debt back to a downward trajectory.

The U.S. Justice Department may drop a legal case aimed at forcing Swiss bank UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times reported on Tuesday.

Oil fell below $67 a barrel on Tuesday as uncertainty over the state of the global economy hit equity markets and increased expectation that oil demand could be slow to revive significantly.

China's economy is headed in the right direction but the foundations of the recovery are not yet solid, a Chinese central bank official said on Tuesday, adding to a chorus of voices cautioning against expectations of a rapid rebound from the global crisis.

Europe extended a global slide in equities and oil on Tuesday while the low-yielding yen hit a three-week high against the dollar as investors grew concerned about the prospect for global economic recovery.

The U.S. Justice Department may drop a legal case aimed at forcing Swiss bank UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times reported on Tuesday.

Oil steepened losses below $67 a barrel on Tuesday, after a fall of nearly 4 percent the previous day, as renewed worries over the uncertain outlook for major economies sparked a sell-off across global equity markets.

Asian stocks tumbled on Tuesday, as confidence in the recovery ebbed and falling commodity prices and a sharp drop on Wall Street spooked investors into taking profits and buying the yen for safety.

The U.S. Justice Department may drop a legal case aimed at forcing UBS AG to reveal the names of 52,000 wealthy American clients suspected of offshore tax evasion, the New York Times said, citing a United States official briefed on the matter.

Asian stocks tumbled on Tuesday, after falling commodity prices and a sharp drop on Wall Street spooked investors into taking profits and buying the yen on speculation the rapid pace of recovery may not be sustainable.

Rain and cooler-than-usual weather so far in June may have dampened demand for summer items such as sandals, swimwear and beer for retailers already hard put to counter sales declines during the recession.

Visa Inc and MasterCard Inc, the world's largest payment networks, could face lower revenue and pressure on their stock prices amid a push for increased U.S. regulation of credit cards.

Taipei-based QNAP System on Monday introduced the SS-839 Pro Turbo NAS, the world's smallest 8-bay, Intel Atom network attached storage solution supporting eight 2.5-inch hard drives.

On Monday, Apple releases a MacBook Pro EFI Firmware Update 1.7 to fix the MacBook Pro's SATA interface which was reported last week that it was limited to 1.5 in previous models.

Nokia Siemens Networks and Nortel signed USD$650 million planned acquisition agreement to purchase LTE and CDMA assets.

Hard drive and storage solution Seagate on Monday unleashed three new drives, including the BlackArmor NAS 220 storage servers, WS 110 external drive and PS 110 portable drive.

China will not back away from its July 1 launch date for the controversial anti-pornography computer filter Green Dam Youth Escort, a Ministry of Industry and Information Technology (MIIT) source said on Monday.

U.S. billionaire Len Blavatnik filed a lawsuit against JPMorgan Chase on Monday, accusing the bank of mismanaging an investment account that held about $1 billion in assets owned by Blavatnik's industrial holding company, Access Industries.

After 74-years, Eastman Kodak Co. decided to end the production of KODACHROME, film the world’s first commercially successful color film in 1935.

On Monday, Oracle unveiled its new Agile Product Lifecycle Management (PLM) version 9.3 that helps Mitigate Risk, Reduce Costs and Increase User Productivity.

Stocks suffered their worst one-day loss in two months, dropping the S&P 500 back into negative territory for the year on Monday in a broad-based sell-off, as investors reconsidered the health of the economy.

Stocks suffered their worst one-day loss in two months, dropping the S&P 500 back into negative territory for the year on Monday in a broad-based sell-off, as investors reconsidered the health of the economy.

QLogic Corporation on Monday said its new 3100 Series Intelligent Ethernet Adapters features fast 10 Gb/sec Ethernet connectivity with optimizations to work in future data-center environments.

Stocks fell on Monday as a sharp drop in oil prices prompted investors to sell some energy companies' shares, while a global forecast fueled worries about the sustainability of an economic recovery.