IBT Staff Reporter

Global stainless steel production in first quarter reached record levels at 7.47 mn metric tonnes, according to International Stainless Steel Forum (ISSF). The growth in production was spread across the world with USA leading the way, ISSF said. It said that the 54.6% growth in output cannot be sustained throughout 2010 as production in first quarter of 2009 was severely impacted by financial crisis.

Global oil prices recovered in Asian trade Tuesday after an overnight slump below $70 a barrel. Light sweet crude for June delivery was seen trading at $70.71 a barrel at 12.00 noon Singapore time while Brent crude was at $ 75.80 a barrel in London. Analysts said the black gold gained momentum as some investors took the view a drop below $70 a barrel made the commodity attractive to buy.

Gold prices advanced in Asian trade Tuesday but remained volatile as investors began profit taking on recent highs of the precious metal. The yellow metal however remained $20 below a lifetime high struck last week, while another increase in holdings in the world's largest gold-backed ETF showed investors were keeping faith with the metal.

Children exposed to pesticides known as organophosphates could have a higher risk of attention-deficit/hyperactivity disorder (ADHD), according to a U.S. study.

An informant for U.S. regulators probing fraud claims against Goldman Sachs has urged Australia's markets watchdog to also investigate the U.S. bank, a newspaper said on Tuesday.

In a national survey conducted by Hepatitis Australia revealed that vast majority of Australians have a disturbingly low knowledge of hepatitis B and C.

University of Adelaide figures obtained by The Advertiser show the number of maths and science teaching students studying either a Graduate Diploma in Education or Bachelor of Teaching at the university has more than doubled over the past two years.

A 22-month-old Adelaide girl has died in hospital from meningococcal disease.

The AUD has opened this morning fairly unchanged despite falling through the USD0.8700 level last night.

New study says that telemarketers talk so much they've been making themselves sick.

Bob Toll, co-founder and CEO of the U.S. luxury homebuilder bearing his name and best known for its McMansions, announced his resignation on Monday, and will be replaced by a non-family member who has worked for the company for 20 years.

Kate Pulling, now aged 23 was found to be suffering from an unknown disease in which her immune system's signaling processes fails to function properly leading her to fall sick frequently. She has gone through hospital care for more than a decade as a result of the condition

A panel advising U.S. market regulators will meet on May 24 to discuss the mysterious market plunge, the Securities and Exchange Commission said on Monday.

Google Inc could face inquiries from German and U.S. officials following the company's disclosure it had mistakenly collected sensitive data sent by consumers over wireless networks, the Financial Times reported on Tuesday.

U.S. money manager Waddell & Reed Financial Inc said an internal analysis of trading activity indicates it was not the cause of the flash crash that briefly wiped out $1 trillion in market capital earlier this month.

After holding up relatively well for the majority of the week compared to other major currencies the Aussie dollar finally gave way to a barrage of selling on Friday night falling below the 89 cent handle to a low near 0.8850 against the Greenback.

General Motors Co posted a first-quarter profit as demand steadied in the United States and sales boomed in China, a turnaround the automaker said could put it on track for its first full-year profit since 2004.

U.S. stocks staged a comeback in late trading on Monday as bargain hunters snapped up beaten-down shares, setting aside concerns that efforts to tackle the euro-zone debt crisis could stifle the global economy.

Nobel Peace Prize-winner Muhammad Yunus opened a branch of his Grameen Bank in Manhattan on Monday, saying he hopes the big Wall Street banks just a subway ride away can learn from his success in granting small loans to the poor.

The U.S. government has recovered about half of the initial $4 billion in bailout money that was extended to Chrysler Group under the Bush administration, the Treasury said on Monday.

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The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Nissan, Japan's third-biggest carmaker, said on Monday its Leaf electric car would cost under 30,000 euros ($38,110) in most European countries after incentives offered by governments to push the new technology.

The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Volkswagen, Europe's largest carmaker, sold 2.34 million vehicles for an increase of 21 percent during the first four months, thanks mainly to China -- destination for more than a quarter of its volume.

Shaken by a debt crisis that is hurting their currency, euro zone finance ministers met on Monday to discuss more effective fiscal discipline for now and the longer term. The talks were the first since euro zone governments hatched a $1 trillion plan a week ago in a bid to stabilise nervous financial markets and limit contagion risks after the financial rescue of Greece, the first in 11 years of monetary union.

The U.S. Supreme Court said on Monday that it would not hear an appeal by Cablevision Systems Corp to the Federal Communications Commission's must-carry requirement that forces cable systems to carry programing of broadcast television stations.

Stocks fell on Monday as investor concerns grew that efforts to tackle the euro-zone debt crisis could stifle the global economic recovery.

Platinum and palladium prices have witnessed a big surge in the recent past following the increased demand from auto sector in China and India. But this surge has hit the auto makers in India in a big way. Due to increased competition in Indian market car makers in India have been witnessing a price war. At that time the steel prices soared and along with that platinum and palladium prices also shot up.