IBT Staff Reporter

The U.S. Federal Deposit Insurance Corp is expected to offer $3.8 billion of guaranteed securitizations backed by the residential mortgage assets of failed banks, market sources said on Tuesday.

Wells Fargo Advisors is in advanced talks to hire Tom Isaacs, a 25-year veteran Merrill Lynch adviser and manager, to oversee its branches in New York City, according to a source familiar with the talks.

U.S. auto sales stalled in February as a safety crisis sent Toyota Motor Corp reeling and cleared the way for Ford Motor Co to take the industry's top spot by sales for the first time since 1998.

U.S. technology companies would face civil or criminal liability unless they take reasonable steps to protect global human rights under legislation a top lawmaker plans to propose.

General Growth Properties Inc's unsecured creditors and suitor Simon Property Group on Tuesday criticized William Ackman's role in the mall owner's restructuring plan, alleging conflicts of interest given his position as a director and largest shareholder.

United Parcel Service on Tuesday said that Chief Executive Scott Davis' total compensation was roughly flat in 2009 at $6.2 million.

The head of Simon Property Group Inc said on Tuesday that despite signing an agreement, it has yet to receive any information from bankrupt General Growth Properties Inc , the smaller rival that Simon is trying to buy.

U.S. technology companies would face civil or criminal liability unless they take reasonable steps to protect global human rights under legislation a top U.S. lawmaker plans to propose.

on Tuesday proposed rebates of up to $3,000 to help homeowners pay for the cost of making their homes more energy efficient, a $6 billion program intended to create jobs.

Record snow along the U.S. East Coast and other regions likely muted retail sales in February, limiting increases in what was expected to be an easy month for retailers to show big gains over last year.

Stocks headed for a third straight day of gains on Tuesday as investors drew cheer from more mergers and acquisitions and signs of progress in securing European financial backing for Greece.

As the Federal Communications Commission prepares to present its National Broadband Plan to Congress March 17, the agency released details of its plans, including a promise to find 500MHz of spectrum for wireless broadband and a request for Congress to cough up $16 billion.

Dow Chemical Co is selling its Styron basic plastics unit to private equity firm Bain Capital Partners for $1.63 billion.

Commodity prices recovered in February after falling in the first month of the year despite China's tighter monetary control regime and US Federal Reserve raising rates for emergency loans to banks which initally sent jitters down the commodity street. However, prices of key commodities have rebounded with crude oil rising as much as 10 percent while key Nymex traded Copper futures have gained 7.1%. Gold gained 2% in February and Spot Gold in New York closed the month at $1,119 still far short o...

Ford Motor Co posted a 43 percent surge in its February U.S. sales on Tuesday, outselling General Motors Co , and also set higher second-quarter production targets for North America.

WASHINGTON (Commodity Online): Cotton prices increased sharply in February 2010. The Cotlook A Index rose from 75.35 cents per pound on February 1 to 85.55 cents per pound on February 26. Cotton prices are supported by strong fundamentals: reduced production and rebounding mill use are expected to generate a 15% drop in global cotton stocks, according to International Cotton Advisory Committee.

Global copper prices eased Tuesday after earthquake hit Chile's Codelco mine reported minimum damage to its facilities. Chile is one of the largest producers of the industrial metal. However, most of its production plants and mines are in the north of the country, while the earthquake struck near the country's southern region.

South Korea's state run Korea Gas Corporation (Korea Gas) said it will invest $1.1 billion to jointly develop natural gas fields in Canada with local firm Encana Corp. In a statement issued here, it said the deal will secure enough gas shipments to South Korea.

Nokia unveiled a new C5 smartphone model on Tuesday, hoping to benefit from a booming demand for cheap smartphones and from rising consumer appetite for mobile social networking.

The European Union executive will unveil a 10-year plan on Wednesday to boost economic growth, create jobs and help steer the bloc safely out of its worst financial crisis in decades.

Goldman Sachs Group has cut the $7.5 billion fundraising target for its second infrastructure fund by more than half after failing to secure enough commitments.

Corruption cost Greece about $1 billion (668.6 million pounds) last year, watchdog Transparency International said on Tuesday, up 5 percent from the year before, with state hospitals, urban planning and tax offices the most corrupt.

Ford Motor Co posted a 43 percent surge in its February U.S. sales on Tuesday, outselling General Motors Co , and also set higher second-quarter production targets for North America.

Apple received ownership of its unibody computer design on Tuesday, two years after it first introduced the design in its laptops.

U.S. President Barack Obama made a last-ditch bid on Tuesday to overcome Republican opposition to his stalled healthcare overhaul, saying he was ready to consider several of their proposals for crafting final legislation.

Greek Prime Minister George Papandreou said on Tuesday his country was fighting for survival against bankruptcy and urged civil servants and pensioners to accept sacrifices to save the debt-burdened nation.

Stocks gained on Tuesday as an increase in mergers and acquisitions and signs of progress in securing European financial backing for Greece eased investor fears.

Technology companies that fail to make reasonable steps to safeguard human rights in foreign countries could face civil or criminal liabilities, lawmakers said Tuesday.

Greece's borrowing costs fell to their lowest level in weeks on Tuesday amid growing expectations that the government will announce new austerity measures this week to secure European financial support.