Fears about the world banking system swept across financial markets on Tuesday, overwhelming any lingering support from the U.S. plan to rescue Fannie Mae and Freddie Mac and battering equities and the dollar. The U.S. currency closed in on its all-time low against the euro. Whatever sentiment boost investors managed to take from the U.S.

Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday. Bernanke is due to present semi-annual monetary policy to the Senate Banking Committee at 10 a.m. EDT. In a sign lawmakers want to hear more about

Japan's NEC Electronics Corp said on Tuesday it expects to double sales of its Blu-ray products in the next two years by matching steep price falls hitting its clients, manufacturers of DVD players. NEC Electronics, which competes with Matsushita Electric Industrial Co, Broadcom Corp and Sigma Designs Inc, aims to take over half the global

Palm Inc on Monday introduced a new high-end Treo mobile phone, hoping to challenge the BlackBerry's dominance with business users, but its debut fell in the shadow of the launch of Apple Inc's debut of its less pricey new iPhone which sold more than 1 mln units over the weekend. Shares of Palm closed down

Microsoft Corp said on Monday its Xbox 360 console will sell better than Sony Corp's rival PlayStation 3 over the lifetime of the machines. Microsoft also displayed a line-up of games to drive demand for the console, including "Gears of War 2," a much-anticipated sequel to its blockbuster science-fiction shooter game. It will debut exclusively

Apple Inc said on Monday it has sold 1 mln new iPhones in its initial weekend, on par with estimates set by analysts, sending its stock rising more than 2%. The original iPhone, introduced in late June 2007 in the United States only, sold about 270,000 units in its first two days. Sales topped 1

European stocks fell to their lowest level in three years early on Tuesday with banks heading the decline amid intense concerns over the fate of the sector. By 0710 GMT, the FTSEurofirst 300 index of top European shares shed 1.3% to 1,119.17, their lowest level since July 2005. European banks were the sharpest decliner with

Primetel Plc announced that the Cyprus Stock Exchange (CSE) approved the listing of the Company’s shares at the Alternative Market of the CSE. The date of commencement of trading will be announced at a later stage by the CSE. Investors who have applied to purchase Primetel Plc shares will be informed about the exact number

British house price falls eased slightly in June, but market conditions remain bleak with sentiment near record lows, according to a survey on Tuesday. The Royal Institution of Chartered Surveyors said its house price balance — which measures the balance of property surveyors reporting falls and rises in prices — rose to -88.0 in the