IBT Staff Reporter

Stocks were set to open little changed on Tuesday after a report showing a sharp drop in durable goods orders cut into upbeat sentiment a day after the S&P 500 closed at its highest since June 2008.

Japanese electronics giant Panasonic Corp named the head of its loss-making TV business as its new president and pledged to get the TV division back on track within two years as the group heads for a record $10 billion loss.

New orders for long-lasting manufactured goods fell in January by the most in three years as demand slumped across the board, suggesting the economy started the year on weaker footing than expected.

Barclays Plc said any retrospective change to UK tax laws would not have a material impact on its profits and said it alerted the UK government to a tax efficient scheme it used, sparking a government clampdown on the tax schemes.

Chancellor Angela Merkel's room for maneuver on future euro zone bailouts, in doubt after a revolt by coalition lawmakers, shrank further on Tuesday when Germany's top court raised a hurdle to swift action in financial rescues.

For Steven Sinofsky, the stern but creative engineering manager who runs Microsoft Corp's flagship Windows division, February 29 is showtime.

President Barack Obama, following through on a promise to beef up enforcement of trade agreements, on Tuesday will sign an executive order creating a new government team to make sure China and others play by the rules, the White House said.

Stock index futures rose in low volume on Tuesday a day after the S&P 500 hit a fresh 4-year high and ahead of economic data and this week's liquidity injection by the European Central Bank aimed at supporting the euro zone's ailing banking sector.

Standard & Poor's downgrading of Greece's long-term ratings to 'selective default' could well be short but there is a risk Athens falls back into default later, S&P analyst Moritz Kraemer said on Tuesday.

Price comparison website Moneysupermarket.com Group PLC said its full-year profit more than doubled as more consumers used its online services, boosting performance particularly in the company's insurance and money segments.

Stock index futures rose in low volume on Tuesday a day after the S&P 500 hit fresh 4-year highs and ahead of economic data and this week's liquidity injection by the European Central Bank aimed at supporting the euro zone's ailing banking sector.

Japanese electronics conglomerate Panasonic Corp named Kazuhiro Tsuga, the head of its loss-making TV business, as its new president as the company heads for a record annual loss.

Wayin, the new social media venture backed by Sun Microsystems founder Scott McNealy, announced it has raised $14 million in Series B funding from U.S. Venture Partners.

Texas Instruments is working with makers of medical devices and sports accessories to develop new types of energy-efficient products, according to an executive at the company.

Price comparison website Moneysupermarket.com Group PLC said its full-year profit more than doubled as more consumers used its online services, boosting performance particularly in the company's insurance and money segments.

Barclays Plc said it was the bank at the centre of a clampdown by Britain on two tax avoidance schemes that the government said would close loopholes and raise more than 500 million pounds ($792 million) in tax.

The euro zone's 17 leaders will meet briefly during a summit of all 27 EU leaders on Thursday to reelect Herman Van Rompuy as president of the European Council, EU diplomats said on Tuesday.

The European Central Bank said on Tuesday it was temporarily suspending the eligibility of Greek bonds for use as collateral in its funding operations and that national central banks would have to provide banks with liquidity using an emergency measure.

Germany's top court will decide on Tuesday whether a small parliamentary sub-committee can approve future aid to ailing euro zone countries such as Greece, in a ruling that could hamper Berlin's ability to act swiftly in the debt crisis.

Volkswagen chief executive Martin Winterkorn squeezes his bulky frame behind the wheel of the new Honda Civic and takes out a tape measure - part of a forensic, and very public, inspection of the five-door compact at last September's Frankfurt car show.

NASCAR driver Brad Keselowski caused an online stir during Monday's delayed Daytona 500 race by tweeting from his car and picking up over 100,000 Twitter followers in the process.

Panasonic Corp <6752.T> said on Tuesday it would replace its president after the Japanese electronics maker earlier this month forecast a record loss, hammered by restructuring charges and its ailing TV business.

McDonald's Corp , the world's biggest hamburger chain said it plans to increase the number of franchised stores in China as it ramps up expansion in one of the world's fastest-growing consumer markets.

Hollywood is helping London developers weather the financial crisis by turning empty offices into film sets, providing cash and publicity for landlords struggling to fill buildings with tenants because of the uncertain economic outlook.

The Big Four global audit firms, which dominate the Chinese market, are negotiating with Beijing to lessen the impact of forced changes that could mean only accountants with Chinese qualifications can be partners in their audit practices.

The Big Four global audit firms, which dominate the Chinese market, are negotiating with Beijing to lessen the impact of forced changes that could mean only accountants with Chinese qualifications can be partners in their audit practices.

Bank of America Corp's head of global markets financing and futures in Asia-Pacific, Brian Canniffe, has left the company, according to an internal memo seen by Reuters.

HSBC Holdings Plc said on Monday it will likely face criminal or civil charges from an expanding investigation into its ties to allegedly illegal money transactions, including some tied to Iran.

Virtual boxing, tennis and dancing along with video game systems may not be helping children meet daily exercise requirements, according to a U.S. study.