U.S. Tightens Sanctions Against Iran
President Obama revealed new sanctions against Iran's energy, petrochemical and financial sectors, ratcheting up pressure on the country to meet its nuclear obligations.
Google Acquires Social Ad Start-Up Wildfire
Google Inc said on Tuesday it acquired marketing start-up Wildfire to help the world's largest Internet search company expand further into social media.
FTC Shifts Approach on Monetary Penalties in U.S. Antitrust Cases
The Federal Trade Commission on Tuesday said it will be more willing to seek monetary penalties against companies that violate antitrust laws, a change of the agency's policies.
Brazil Usiminas to Get BRL50 Million/Year Savings With Modernization
Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR), or Usiminas, will achieve annual costs savings of 50 million Brazilian reais ($24.51 million) with the current modernization of its steel mills, Chief Executive Julian Eguren said Tuesday.
Correction to Marathon Petroleum Earnings Story
"Marathon Petroleum 2nd-Quarter Net Up 1.5% On Speedway, Refining Growth," at 7:50 a.m. EDT, misstated the revenue expected by analysts surveyed by Thomson Reuters.
Xstrata Copper Output Down but Coal Up; Major Growth Projects Ahead
Anglo-Swiss miner Xstrata PLC (XTA.LN) Tuesday reported lower mined copper output but higher coal output in the first half of the year compared with a year earlier as it continues to make progress on completing 10 major growth projects in 2012.
Sina, Baidu in Mobile Partnership -BBC
Chinese search engine company Baidu Inc. (BIDU) and Sina Corp. (SINA), the Chinese owner of the Weibo microblogging service, have announced a mobile-focused partnership, the BBC reported.
Archer Daniels Midland Fourth-Quarter Net Drops 25%
Archer Daniels Midland Co.'s (ADM) fiscal fourth-quarter earnings fell 25% as dwindling U.S. corn supplies hurt its grain-handling and ethanol businesses.
Lowe's Drops As Rona Rejects Unsolicited Bid
No. 2 U.S. home-improvement retailer Lowe's Cos. shares fell 5% on Tuesday after the company confirmed it made an unsolicited bid July 8 to acquire Canadian home-improvement and hardware retailer Rona Inc. Rona said in a separate statement that it's rejected the bid. Lowe's said its C$14.50
PFG President Subpoenaed to Testify
Peregrine Financial Group President Russell Wasendorf Jr. has been subpoenaed to testify before a federal grand jury in connection to an investigation into the failed brokerage.