The chairman of the Senate Banking Committee proposed giving the Federal Reserve responsibility for protecting consumers from abusive and deceptive financial products.

If a fight over money is not resolved, it could affect the ability of 3.1 million Cablevision customers to watch the Academy Awards.

A burst of enthusiasm was not enough to propel the Dow Jones industrial average above its Dec. 31 close.

Prudential of Britain?s audacious $35.5 billion offer for the Asian life insurance business of the American International Group is reminiscent of pre-crisis mega-deals.

AP - Asian stock markets were mostly higher Tuesday as positive regional economic reports and corporate dealmaking buoyed optimism about the global recovery.

Reuters - Toyota Motor Corp executives in North America will have more authority over recall decision-making under quality control changes that will also give safety a sharper focus in vehicle design, company officials said on Tuesday.

General Motors says it will spend 1.9bn euros to restructure its European unit Opel - three times more than first pledged.

Internet search giant Google is buying online photo-editing site Picnik - its third deal in three weeks.

Australia's central bank raises interest rates, for the fourth time since October, as it seeks to cool its booming economy.

Sports Direct, the UK's biggest sports goods retailer, says it is considering a bid for Blacks Leisure.

AP - Backed by armed bodyguards, international oil executives have flocked to this southern Iraqi city to survey their potentially lucrative prizes: the fields that it is hoped will one day dramatically increase output of cheap, plentiful crude.

AP - Ireland's largest financial institution, Allied Irish Banks PLC, reported its first-ever full-year loss Tuesday as bad debts soared amid the recession.

AP - General Motors Co. said Tuesday it would more than triple its funding for the turnaround of European units Opel and Vauxhall to euro1.9 billion ($2.6 billion).

General Motors said it would put $2.6 billion into its Opel and Vauxhall units and reduce the amount it is seeking from European governments.

General Motors says it will spend 1.9bn euros to restructure its European unit Opel - three times more than first pledged.

General Motors recalls 1.3 million small cars in North America because of a problem with power steering.

Allied Irish Banks (AIB) reports pre-tax losses of 2.6bn euros for 2009 after what it called 'a very challenging year.

Insurance firm Admiral reports record profits described by the chief executive as an 'outstanding achievement'.

AP - Mary Feller's family of three spends nearly $25,000 a year on health insurance premiums, which is more than they pay on their home's mortgage in California's Marin County.

AP - Toyota is repairing more than 1.6 million vehicles around the world, including the U.S. and Japan, for potentially leaky oil hoses — the latest in a spate of quality problems battering the world's biggest automaker.

The euro falls to its lowest level against the dollar in 10 months amid continuing concerns over Greece's debt crisis.

The threat of mass withdrawals from the Indian Premier League seems to have gone away after new commitments over security.

The Financial Services Authority head admits his organisation was 'seduced' into thinking the economic boom was unstoppable.

UK housebuilder Persimmon says sales are picking up but the forthcoming election could lead to uncertainty.

UK cardholders can now spend up to £15 without offering a Pin number or signature as the limit is raised on contactless cards.

AP - European stock markets rose modestly Tuesday as investors awaited the next developments in the Greek debt crisis and kept a close eye on currencies following big drops in the value of the euro as well as the British pound.

AP - Staples Inc. said Tuesday that its fourth-quarter profit slid as consumers and small businesses continued to delay purchases of larger-ticket office-supply items.

AP - German airline group Deutsche Lufthansa AG said Tuesday it lost euro112 million ($152 million) in 2009 as the industry struggled with low demand and weaker premium traffic sales through the downturn.

Reuters - Top office products retailer Staples Inc reported higher-than-expected quarterly revenue, boosted by its improving North American business, although its profit fell slightly short.

AP - A U.S. energy company says Israel's longtime dependence on natural gas imports could soon come to an end.

The main focus in the markets continues to be the Greek debt crisis and whether Germany and France are prepared to offer a lifeline.

Japan?s unemployment rate fell to 4.9 percent in January, but analysts expect the recovery in job conditions to remain slow in the coming months.

The British Broadcasting Corp. is facing complaints from commercial rivals, who say public funding gives it an unfair advantage in expanding online.

Manchester United reports that it managed to cut its huge debts by the end of last year.

The European Commission clears a genetically modified potato for cultivation in the EU - only the second GM product allowed.

VW's party opens Geneva show while Toyota grovels

Would-be Man Utd buyers face big hurdles

Sterling fall triggers markets v state cage fight

Small loan provider Provident Financial says profits have fallen as customers become more careful about borrowing money.

Plans to encourage householders to make their homes much warmer and cheaper to run are announced by ministers.

AP - Sales at Staples Inc. climbed for the second straight quarter, but the largest office supply company in the U.S. reported a decline in fourth-quarter profit Tuesday as some charges and delays in big-ticket purchases weighed on results.

AP - Domino's Pizza Inc. said Tuesday that its fiscal fourth-quarter profit more than doubled as sales picked up in the U.S. as curious consumers checked out the pizza chain's new recipes.

AP - Greece will wait to see how markets react to tougher austerity measures demanded by the European Union before deciding on when to issue new state bonds, a government official said Tuesday.

AP - Automotive parts retailer AutoZone Inc. said Tuesday that its fiscal second-quarter profit rose 6 percent as it managed costs and recorded higher sales from new stores.

AFP - World oil prices rose on Tuesday to strike 79 dollars per barrel but traders said the strong dollar would likely keep a lid on the crude market.

BusinessWeek - Public policy, usually the purview of Washington-based policy wonks and PhDs in the social sciences, is not something that typically attracts the attention of MBAs. With high-paying Wall Street and consulting jobs beckoning, few bother to explore the intersection of the public and private sectors, opting instead for courses in finance, management, and strategy. But the global economic crisis, along with calls for tougher regulation of the finance industry, is starting to change that. Suddenly, an area of study that's gathered dust for as many as 40 years at some MBA programs is hot.

An analysis of U.S. federal documents showed that many Camrys built before 2007 ? and not covered in recent recalls ? were linked to speed control problems.

The European Commission began a new push to allow farmers in Europe to grow more biotech crops, despite persistent public opposition to the technology.

FRAMINGHAM, Mass. (AP) -- Sales at Staples Inc. climbed for the second straight quarter, but the largest office supply company in the U.S. reported a decline in fourth-quarter profit Tuesday as some charges and delays in big-ticket purchases weighed on results.

Property prices will continue to fall in vulnerable economies in Europe but other nations are showing signs of recovery, a report says.

Her Majesty's Revenue and Customs challenge the validity of Andrew Andronikou's appointment as Portsmouth administrator at the High Court.

One of Leicestershire's major employers is to close its research operation in Loughborough with the loss of almost 1,200 jobs.

AP - Prime Minister George Papandreou says that if Greece cannot borrow on terms that are similar to those enjoyed by other European Union countries, the results will be 'worse than catastrophic.'

AP - Toyota's recalls and East Coast snowstorms weighed down U.S. auto sales in February, but automakers remained optimistic that a recovery is under way.

AP - Stocks rose Tuesday on more corporate takeover activity and signs of economic recovery overseas.

AP - Hybrid or hype?

AP - Oil driller Hercules Offshore Inc. on Tuesday said its fourth-quarter loss narrowed from a year-ago period hurt by a huge writedown.

AP - Jailed Fastweb founder Silvio Scaglia told magistrates Tuesday that he had no role or responsibility in an alleged euro2 billion ($2.7 billion) global money laundering ring involving two Italian Internet and phone companies, according to one of his lawyers.

The Motley Fool - Despite delivering better than expected results last week, Sirius XM Radio (Nasdaq: SIRI - News) has gone on to close lower in the two trading sessions since its robust report. It opened lower still this morning.

AP - Icelandic Prime Minister Johanna Sigurdardottir says she hopes to reach a deal in the next couple of days over the controversial payment of $5.7 billion to Britain and the Netherlands for deposits lost when the country's banks collapsed.

AFP - The EU could lend its support to Russia's massive South Stream gas pipeline plan as well as the rival EU-led Nabucco project because of growing energy demand, a top EU commissioner said Tuesday.

AP - Several senators on the Commerce, Science and Transportation Committee, which held a hearing Tuesday to investigate Toyota's safety issues and recall, have connections to the Japanese automaker.

The system would be meant to prevent acceleration episodes like those that have led to the recall of millions of Toyotas, the Transportation secretary said on Tuesday.

American carmakers may have been unable to take full advantage of the Toyota recalls because snowstorms kept consumers away.

Apple filed a lawsuit against HTC, maker of the Google-designed Nexus One, asserting that it infringed on patents related to the iPhone.

The government needs to raise an additional $4.8 billion in revenue to convince markets that it is serious about curbing its budget deficit and averting a debt crisis.

The main focus in the markets continues to be the Greek debt crisis and whether Germany and France are prepared to offer a lifeline.

CF Industries Holdings on Tuesday unveiled a new $4.7 billion offer for Terra Industries, making its second run at its rival and hoping to top a $4.1 billion agreement between Terra and Yara International of Norway.

Ford reports a jump in US sales of 43% last month, selling more cars than its great rival General Motors.

Apple has launched legal action against phone maker HTC alleging it has infringed patented technology.

AP - Ford Motor Co. outsold General Motors Co. in February for the first time in more than a decade.

AP - Fears that Greece may need an expensive and embarrassing bailout are heaping pressure on the euro. But many European businesses and politicians are quietly relieved at the common currency's decline.

AP - Stocks rose for a third day Tuesday as corporate takeover activity signaled that the economy is recovering.

AP - Oil prices rose above $80 a barrel again on Tuesday, climbing at a time of the year when crude and gasoline prices typically move higher.

AP - NEW RECIPE: Domino's credits its new pizza recipe for its fourth-quarter success. The revamped pie has a more seasoned sauce, a new cheese combination and herb- and garlic-flavored crust.

AP - Greeks must prepare for more painful spending cuts to deal with an unprecedented financial crisis, Prime Minister George Papandreou warned Tuesday, saying their sacrifices are essential in a fight for the nation's survival.

Reuters - 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.

AP - Toyota says its U.S. sales fell 9 percent in February, reflecting the fallout from widespread recalls and a temporary sales halt.

In the fallout from a huge recall by Toyota, Ford?s sales rose 43 percent in February and G.M.?s rose 12 percent, while Toyota?s declined 9 percent.

Even as car companies struggle to pull out of a deep crisis, they are not scrimping on auto show bombast.

The Supreme Court was unanimous in its decision, which overturned an appeals court ruling that rejected the settlement in a copyright case.

Economists are revising their employment forecasts, saying the decline will be about 200,000 jobs.

The High Court grants an injunction to stop the Serious Fraud Office striking further deals with BAE Systems.

Reuters - The Internal Revenue Service has agreed to work more closely with the Securities and Exchange Commission to regulate the U.S. municipal bond market, the IRS said on Tuesday, adding the two federal agencies had signed memorandum of understanding.

AP - Among the earnings stories for Tuesday, March 2, from AP Financial News:

Reuters - 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.

AP - Office-supply retailer Staples Inc. reported that its fourth-quarter profit fell, partly on one-time charges, while sales improved for the second straight quarter. Here CEO Ron Sargent discusses what the company expects this year.

AP - Anadarko Petroleum Corp. said Tuesday it plans to boost capital spending this year by as much as 22 percent as it focuses on exploration and development of new oil fields in or around the U.S.

AP - Chrysler on Tuesday reported a slight increase in U.S. sales last month, as stronger demand for 10 models was offset by steep declines for others.

The system would be meant to prevent acceleration episodes like those that have led to the recall of millions of Toyotas, the Transportation secretary said on Tuesday.

Even as car companies struggle to pull out of a deep crisis, they are not scrimping on auto show bombast.

The Walt Disney Company and Cablevision each told viewers to take a side -- their side -- in a brewing battle over distribution payments that are increasingly seen as a vital for television broadcasters.

A growing worry that the coming elections here could result in a hung Parliament has sparked fears that Britain will experience its own sovereign-debt meltdown.

The government needs to raise an additional $4.8 billion in revenue to convince markets that it is serious about curbing its budget deficit and averting a debt crisis.

The main focus in the markets continues to be the Greek debt crisis and whether Germany and France are prepared to offer a lifeline.

President Obama took a brief detour from promoting his health care plan in Washington and traveled to Savannah, Ga., in the latest stop on his economic and job-creation tour.

Economists are revising their employment forecasts, saying the decline will be about 200,000 jobs.

West Ham co-owner David Gold says he is 'concerned' that more Premier League clubs risk administration.

Europe's top clubs succeed in delaying the full introduction of Uefa's new financial fair play rules from 2012 until 2015.

AP - The stock market had its third straight winning day on signs that companies are becoming more optimistic about the economy.

AP - Drugmaker Bristol-Myers Squibb Co. said Tuesday its chief executive will retire in May and be succeeded by the current chief operating officer.

AP - Hovnanian Enterprises Inc. says it swung to a profit in its fiscal first quarter, as the homebuilder benefited from a hefty tax gain.

Time.com - When cash is tight, consumers traditionally pay their mortgage first and let other bills stack up. But now credit-card bills are the top priority

AP - When Ed Whitacre Jr. took over as General Motors Co.'s CEO in December, he told reporters that executives wouldn't have long to show results.

Viacom will remove 'The Daily Show with Jon Stewart' and other Comedy Central television shows from Hulu next week, in a move that represents the first major fracture between TV show owners and the popular video Web site.

The hedge fund Elliott Associates, a large shareholder of Novell, said Tuesday afternoon that it was offer to buy the business software company in a deal valued at about $2 billion.

The Supreme Court was unanimous in its decision, which overturned an appeals court ruling that rejected the settlement in a copyright case.

Security guards had to break up a fight among lawmakers debating the results of an investigation into assistance extended to Bank Century.

The Venezuelan economy shrank by 5.8% in the last three months of 2009 compared with year earlier, the country's central bank says.

Football clubs should consider performance-related bonuses and lowering player salaries, a sports finance expert says.

Arsenal chief executive Ivan Gazidis says the English football industry will continue to grow but that a cultural change is needed.

AP - Long before Toyota's serious problems with surging accelerators, reports surfaced in Europe of a less catastrophic problem with gas pedals that didn't ease off when drivers removed their foot.

AP - Automakers plowed through a snowy February to better-than-expected sales, and new incentives led by beleaguered Toyota will keep the momentum going into spring.

AP - URS Corp., an engineering and construction services company, said Tuesday that its profit fell 25 percent in the fourth quarter as revenue fell by the double-digits.

AP - Federal regulators on Tuesday slapped a hefty $2 million fine on U.S. subsidiaries of Japanese retailer Daiso following accusations that they imported lead-tainted toys and dangerous children's products.

AP - Natural gas company Copano Energy said Wednesday that it plans to sell 6.3 million units with the proceeds being used to repay debt.

AP - Automakers released February U.S. sales figures Tuesday. These were the top-selling vehicles, as well as the percent change in sales from February 2009.

At the A.F.L.-C.I.O.?s winter meeting, leaders spoke of mobilizing the base to help minimize Republican gains this fall and about how President Obama could do more to help their cause.

The system would be meant to prevent acceleration episodes like those that have led to the recall of millions of Toyotas, the Transportation secretary said on Tuesday.

The company, estimating that it lost 18,000 sales in the United States last month, offered no-interest financing for five years on eight models and low lease rates on nine.

General Motors said it would put $2.6 billion into its Opel and Vauxhall units and reduce the amount it is seeking from European governments.

The fracture with Viacom will take ?The Daily Show With Jon Stewart? and other Comedy Central shows off the video site.

In the lawsuit, Apple said HTC phones running Android violate 20 of its patents, including those relating to the iPhone?s ability to recognize the touch of multiple fingers on its screen at once.

So-called retransmission payments are growing more common as TV stations seek to supplement advertising with a new, predictable revenue stream.

In addition to its standard TV offerings, TiVo, the DVR pioneer, said it would offer an array of related offerings from Netflix, Blockbuster, YouTube and Amazon.

Jamestown Properties, a German commercial real estate investment company, has decided it will go ?green? with energy-saving overhauls in nearly its entire $4 billion portfolio of buildings.

Bravado Designs, which makes bras for breast-feeding, considers online support for mothers central to its marketing efforts.

The present chief executive, James M. Cornelius, 66, will remain as chairman after he retires in May.

Whatever you thought at the start of the year about the recovery, you probably need to be more pessimistic today.

Greece's prime minister says the nation's budget crisis is like a 'wartime situation', warning of further painful cuts.

AP - Asian stock markets were mostly higher early Wednesday after U.S. markets rose for a third straight day on confidence that business leaders expect the recovery to stick.

AP - Republican gubernatorial candidate Jim Keet on Tuesday called for phasing out the state's tax on capital gains and a reduction in Arkansas' income tax.

AP - TAX GAIN: Homebuilder Hovnanian Enterprises Inc. posted a profit for the three months ended in January thanks to a hefty tax gain. The results end a string of 13 quarterly losses for the builder, which took advantage of a tax rule enacted last year that extends the time companies have to offset past losses.

Reuters - Swoozie's, a U.S. retailer of luxury gifts and stationery products, filed for bankruptcy protection on Tuesday, saying it was hurt by underperformance of recently acquired stores in the Northeast.

AP - Nissan Motor Co. is recalling about 540,000 pickup trucks, sport utility vehicles and minivans to fix problems with brake pedals and fuel gauges.

AFP - Europe's new financial overlord has pledged to ease economic cooperation within the EU and said improved regulation is the key to bolstering the single market, in a newly published interview.

AFP - Asian countries fearing a disastrous US-style property bubble are striving to cool down their real-estate markets as the region powers out of the global financial crisis.