Danette R Vandeberg

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.

"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.

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.

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.

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

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.

CALGARY, Alberta--U.S. regulators prohibited Enbridge Inc. (ENB) from restarting an oil pipeline in Wisconsin, saying the pipeline company must perform additional tests.

The Twitter account of a reporter for a British newspaper came back on line Tuesday after a brief suspension following complaints from NBC about his criticism of their coverage of the London Olympics.

Marathon Petroleum Corp.'s (MPC) second-quarter profit edged up 1.5% in its first full year as a standalone company, as the refining and pipeline company booked profit gains in its Speedway and refining and marketing segments.