IBT Staff Reporter

Oil traded higher on Tuesday by nearly $3 at one point as investors quenched a growing risk appetite for tangible commodities against the background of a weakening dollar and the looming prospect of inflation.

Facet Biotech Corp said on Tuesday it has rejected an unsolicited bid by Biogen Idec Inc to acquire Facet for $14.50 a share, saying the offer is inadequate and not in the best interests of shareholders.

Banking is supposed to be boring.That's the quip that lobbyists and congressional aides use, only half-jokingly, to explain what's in store for the banking industry as governments crack down with tighter regulation.

Airbus on Tuesday rejected U.S. calls to renounce government loans for its next airliner after the WTO gave a preliminary ruling against earlier loans, while a Boeing executive hit out at unfair subsidies.

Research in Motion Ltd Co-Chief Executive James Balsillie increased his bid for the bankrupt Phoenix Coyotes ice hockey team by $30 million to $242.5 million, court documents showed.

Royal Bank of Scotland has appointed Goldman Sachs to consider a sale or other options for RBS Aviation Capital, one of the world's biggest plane leasing businesses, a person familiar with the matter said.

Global banking giant HSBC and Warren Buffett's Berkshire Hathaway should be paying staff the biggest bonuses, according to a new bonus model from a management consultant.

The King Brothers, Alex and Derek, who were convicted for murdering their father in 2001, broke their silence in an interview Tuesday morning after being released from jail.

Samoa is about to become the first nation in nearly 40 years to switch the side of the road that traffic drives on, and the reasons are primarily economic.

The Obama administration's ambitious plan to overhaul U.S. financial regulation was bogged down in Congress as it returned from a long recess on Tuesday.

Alfa Romeo, the sporty saloon car maker owned by Fiat (FIA.MI), expects to sell up to 120,000 cars this year, up 11 percent from 2008, its chief executive said on Tuesday.

German carmaker BMW (BMWG.DE) said its sales fell 9.7 percent in August from the year-earlier period, to 91,790 units, and said it was

A Sudanese woman jailed for wearing trousers deemed indecent in a landmark court case was freed on Tuesday after the country's journalist union paid a $209 fine on her behalf, the head of the media body said.

Former Bosnian Serb leader Radovan Karadzic could go on trial as early as October 19 for war crimes and crimes against humanity, the pre-trial judge of the tribunal overseeing his case said on Tuesday.

Lebanon's opposition groups formally informed the president on Tuesday of their rejection of a proposed government line-up by prime minister-designate Saad al-Hariri, raising the possibility that Hariri will step aside.

South Korea demanded an apology from North Korea on Tuesday for its sudden release of water into a river flowing across their border that swept away six people, casting a pall over recently warming ties between the rivals.

A gas explosion at a coal mine in China's central Henan province early on Tuesday killed 35 people and 44 others were missing, the government's work safety watchdog said.

Iran should immediately release detainees who did not play a major part in street unrest after its disputed election in June, a member of a parliamentary investigative committee said on Tuesday.

Afghanistan's U.N.-appointed election watchdog said on Tuesday it had found clear and convincing evidence of fraud in last month's presidential election and ordered a recount of suspicious returns.

Nokia Siemens Networks, the key equipment vendor to British operations of Deutsche Telekom and France Telecom, has most to lose in the merger of the two mobile networks, analysts said on Tuesday.

Nokia Siemens Networks, the key equipment vendor to British operations of Deutsche Telekom and France Telecom, has most to lose in the merger of the two mobile networks, analysts said Tuesday.

Mercedes parent Daimler (DAIGn.DE) has already completed its refinancing for 2009 and has started procuring cash for the coming year as well with a recent bond issue, the company's chief financial officer said in a report by German paper Boersen-Zeitung.

President Barack Obama will deliver remarks to students across the U.S Tuesday, September 8 at 12:00 p.m. EST at Wakefield High School in Arlington, Va. The speech will be broadcast live on C-SPAN website and streamed live on WhiteHouse.gov/live.

Car sales in India raced an annual 26 percent in August, rising for a seventh month, and demand is seen picking up in October when annual bonuses are paid in much of the country.

China's largest automaker SAIC Motor group (600104.SS) is considering taking a passive stake in Saab Automobile [GM.UL] by teaming with luxury sportscar maker Koenigsegg, a source familiar with the matter said on Tuesday.

Japan's Suzuki Motor (7269.T) said it plans to invest about 20 billion yen ($215 million) to build a new car factory in India, aiming to upgrade its production facilities in the face of growing competition.

Luxury sportscar maker Koenigsegg has presented the Swedish government with a new plan for financing its purchase of Saab Automobile GM.UL, a government official said on Monday.

China's passenger cars sales in August rose 90.18 percent from a year earlier, the China Association of Automobile Manufacturers said on Tuesday, paving the way for record sales for the full year.

Wall Street was set to open nearly 1 percent higher on Tuesday as rising commodity prices and an uptick in merger and acquisition activity fueled hopes the economy is strengthening.