IBT Staff Reporter

Danish industrial group Danfoss A/S said it intends to offer about $118.8 million for the remaining stake in Sauer-Danfoss Inc (SHS.N), which makes hydraulic and electronic systems for mobile equipment.

highway travel fell in October by 0.5 percent from a year earlier, the first decline in five months, the U.S. Transportation Department said on Tuesday.

Japan's government will not offer guarantees on funding to Japan Airlines Corp (9205.T), Finance Minister Hirohisa Fujii said on Tuesday, eliminating one potential support for the carrier as it struggles for survival.

Prices for European carbon emissions futures on Tuesday clawed back a little of Monday's 9 percent falls, as bearish sentiment waned over a watered-down deal at the U.N. climate talks in Copenhagen. EU Allowances for December 2010 delivery closed 2.01 percent higher at 12.70 euros ($18.17) a tonne, with volume at 4,378 lots.

Saudi Kayan Petrochemical Co, 2350.SE, a unit of Saudi Basic Industries Corp 2010.SE (SABIC) has received four bids in a retender to build a petrochemical plant at its complex in Jubail, industry sources said on Tuesday.

Shares in Ballard Power Systems rose more than 7 percent on Tuesday morning after the fuel cell maker agreed to offload its stake in a fuel cell research group for about C$44.5 million.

A U.S. court of appeals on Tuesday upheld a $290 million jury verdict against Microsoft Corp for infringing a patent held by a small Canadian software firm, and affirmed an injunction that prevents Microsoft from selling versions of its Word program which contain the offending software.

While investors take a break from the market - busying themselves with holiday plans and vacation days instead - the equity bubble is getting closer and closer to popping once again.

OPEC agreed on Tuesday to keep supply curbs unchanged but faces a battle to crack down on those in its ranks who are failing to comply with quota restrictions if it wants to drain bulging global fuel inventories.

Commercial Metals Co (CMC.N) posted a first-quarter loss, hurt by lower steel demand and prices at its Americas fabrication and distribution segment, and expects the second quarter to be in line with the current quarter's results.

The U.S. Federal Bureau of Investigation is probing a computer hacking that targeted Citigroup Inc and resulted in the theft of tens of million of dollars, The Wall Street Journal said, citing U.S. government officials.

Copper output in Zambia, Africa's largest producer of the metal, rose to 573,405 tonnes between January and October this year, compared with 480,665 tonnes in the same period last year, the central bank said on Tuesday

Canadian merchant bank C.A. Bancorp Inc (BKP.TO) urged shareholders on Tuesday to reject a C$1.22 per share bid from private equity firm Maxam, saying the offer was too low and that it was talking to third parties.

Dubai Financial Market DFM.DU(DFM) bid $121 million for Nasdaq Dubai, hitting New York-based Nasdaq OMX's (NDAQ.O) pockets, as well as the idea that international investor flows matter much in the Emirates.

American International Group Inc has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said on Tuesday.

The chief financial officer of CIT Group Inc is retiring, adding another executive search for a board that is already looking for a chief executive officer.

President Barack Obama has written a private letter to North Korea leader Kim Jong-il, presented by U.S. special envoy Stephen Bosworth to North Korea's First Vice Foreign Minister Kang Sok Ju on Dec. 9 during his visit to the North.

Spyker Cars pressed ahead with efforts to cut a deal for Saab with General Motors, with talk of possible backing from a Dutch billionaire fanning the Swedish carmaker's faint hopes of an eleventh-hour reprieve.

President Barack Obama picked former Bush administration adviser Howard Schmidt to serve as national cybersecurity coordinator, the White House said on Tuesday.

State Street Corp (STT.N), one of the world's largest money managers for institutions, is buying the securities services arm of Italy's biggest retail bank to help expand its footprint abroad.

Britain's Lloyds TSB Bank Plc reached a $217 million settlement of charges it violated U.S. sanctions regulations, the Treasury Department said on Tuesday.

The White House announced Tuesday that it has appointed former security adviser Howard Schmidt as its cyber tsar, following a seven month search. Schmidt is returning to the White House as President Obama's new cybersecurity coordinator, according to a letter posted on the White House Web site.

MTV's controversial new reality show, Jersey Shore, has lost its third ad sponsor - Dell Computers - which accused the show of ethnic bashing. The PC company told TMZ that it will block its commercials from running in future episodes of the show and claims that it doesn't condone or support ethnic bashing in any form.

Sales of previously owned U.S. homes jumped last month to their highest level in nearly three years, the latest sign that the economic recovery was gaining steam, after growing below expectations in the third quarter.

Tax credits due to expire on November 30 drove home buyers to boost sales in November, according to an industry report.

The Yankees agreed to re-acquire right-hander Javier Vazquez from the Braves on Tuesday as part of a five-player trade, the New York Post reports.

Sales of previously owned homes in the United States surged last month as prices continued to fall and buyers rushed to take advantage of a popular tax credit, the National Association of Realtors (NAR) said on Tuesday.

Iberian spot power prices rebounded from recent year-lows on Tuesday due to ebbing supplies of cheap wind power while demand held steady as cold weather gave way to heavy rain.

Why aren't you boys at school? The chatter, which had been building to a noise as full as the packed bus, comes to