Business

Reuters - Change swept through the top of Britain's banks on Tuesday as Barclays said its investment banking supremo Bob Diamond will take over as group chief executive next year and HSBC was expected to announce later that its chairman is going into government.

Reuters - LONDON (Reuters) Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 0.2 to 0.7 percent, pointing to a weaker start on Wall Street on Tuesday.

AP - European Union countries will discuss a possible levy on banks and a tax on financial transactions to better control market forces and protect public finances from the costs of bailouts, as they gather Tuesday in an atmosphere more benign than when they last met in July.

AP - Sales of passenger cars in China — the world's biggest market — rose 18 percent in August from a year earlier, a report said Tuesday, as government subsidies and price cuts by dealers helped spur demand.

Reuters - World stocks edged down from the previous day's one-month high on Tuesday while the euro fell broadly as renewed concerns about Europe's banking sector encouraged investors to pause after a recent rally.

AP - The top executive at Kia Motors has resigned after the company recalled more than 100,000 vehicles worldwide over defective wiring, the automaker said Tuesday.

Reuters - Silicon Valley technology giant Oracle Corp has hired Mark Hurd, the former chief executive of Hewlett-Packard Co who resigned amid a scandal, as president.

Reuters - The U.S. Justice department is looking into Google Inc's takeover of airline ticketing software firm ITA Software Inc, to determine whether the deal would exert too much influence on the online travel industry, the Wall Street Journal said.

AFP - The head of South Korea's second-largest automaker Kia Motors has resigned to take responsibility for the recall of tens of thousands of cars over faulty electrical wiring, the company said Tuesday.

Reuters - China must resist external pressure for yuan appreciation because a stronger exchange rate would take a big bite out of economic growth, according to a pair of senior government researchers.

AP - An imam who has become the public face of a proposed Islamic community center and mosque near ground zero has returned to the United States following a taxpayer-funded tour of the Middle East, his wife said Monday.

AFP - The Roma minority are targets of a security crackdown in France, but an EU-funded project has given two dozen members of the community new jobs and new hope at a troubled time for gypsies.

Reuters - President Barack Obama, scrambling to spur job creation, proposed a six-year plan on Monday to rebuild infrastructure with an initial $50 billion investment and prepared new business tax cuts.

Reuters - President Barack Obama, scrambling to jump-start job creation in a sluggish economy, proposed a six-year plan on Monday to rebuild aging roads, railways and runways with an initial $50 billion investment.

AFP - Plans to radically re-draw cross-border economic government across Europe hit a stumbling block on Monday 10 days from a deadline for concrete action set by European Union leaders.

AP - The Justice Department won't say if the blowout preventer that failed to stop oil from gushing from BP's undersea well into the Gulf of Mexico is on its way to shore.

Reuters - BP Plc , the largest oil producer in U.S.-regulated areas of the Gulf of Mexico, and Shell Oil Co (RDSa.L) said Monday that Tropical Storm Hermine was not affecting their offshore operations.

Reuters - Italian car maker Fiat SpA will hire Toyota Motor Europe's (7203.T) Andrea Formica to head sales at its four-brand automotive group, Automotive News Europe said, citing sources familiar with the matter.

Reuters - Global banks will be required to hold Tier 1 capital of nine percent including a 3 percent so-called "conservation buffer," German weekly Die Zeit reported, quoting a draft proposal from the Basel Committee, the body tasked with drawing up global banking rules.

AFP - The World Trade Organization will issue its long-awaited opinion on Europe's challenge to American subsidies to US aerospace giant Boeing next week, a source close to the matter said Monday.