IBT Staff Reporter

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Oil rises above $75 as dollar dips

Global oil prices recovered in European trade Tuesday mainly after the dollar dropped, reducing the appeal of commodities as an alternative investment. Light sweet crude for March delivery was seen trading at $75.34 a barrel at 4.00 p.m Indian time while Brent crude was at $73.95 a barrel at the same time. Crude oil advanced as the euro strengthened against the dollar, reducing the appeal of commodities as an alternative investment.

Top Taliban commander held in Pakistan

The Taliban's top military commander was captured in Pakistan, U.S. and Pakistani officials said on Tuesday, but the move may not deal a decisive blow to a group putting up fierce resistance to a NATO offensive in Afghanistan.

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Toyota eyes U.S. output cutbacks after recalls

Toyota Motor Corp has decided to cancel production at two U.S. plants for a total of two weeks in anticipation of a drop in sales in the wake of its massive recalls, Japan's Chunichi Shimbun reported on Tuesday.

Obama unveils plan to build nuclear plants

President Barack Obama announced $8.3 billion in loan guarantees on Tuesday to build the first U.S. nuclear power plant in nearly three decades in a move designed to help advance climate legislation in Congress.

Zain eyes big gains, Bharti shares fall further

Kuwaiti telecoms firm Zain said it would pocket around half of the proceeds from its planned $10.7 billion sale of African assets to Bharti Airtel and use the rest to pay off debt, sending its shares soaring.

EU suggests extra Greek deficit cuts will be needed

European ministers told Greece on Tuesday it may need to take further steps to bring a swollen debt under control and calm irrational financial markets, as wage cuts already announced by Athens sparked another strike.

Microsoft launches mobile software overhaul

Microsoft launched its new mobile phone operating software on Monday, introducing a range of music, gaming and networking features aimed at expanding its appeal beyond its core business customers.

Iran says will respond to any new sanctions

President Mahmoud Ahmadinejad said on Tuesday talks were still going on over a proposed nuclear fuel swap and any country which tried to impose new sanctions on Iran would regret its actions.

GM seeking more U.S. ethanol fueling stations

General Motors Co's growing output of vehicles capable of running on ethanol-gasoline blends won't help cut polluting emissions or U.S. dependence on foreign oil until a slim network of stations dispensing ethanol is greatly expanded, GM Vice Chairman Tom Stevens said.

Factbox: Ties binding China and Iran

China faces growing pressure from Western countries to back fresh sanctions against Iran over its disputed nuclear activities. Here are key facts about ties between China and Iran.

Toyota crash complaints rise in U.S.

Fatalities alleged by consumers to the government related to unintended acceleration in Toyota Motor Corp vehicles have reached 34, with a recent jump in complaints accounting for more than a third of the total.

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