IN BRIEF
DETROIT
General Motors plans mightier hybrid system
General Motors Corp. says it expects to bring its first lithium-ion battery powered hybrid engine system to market in North America in 2010.
The automaker was to announce the hybrid system Tuesday at the Geneva International Motor Show, saying the new battery will deliver three times the power of GM's current nickel-metal-hydride batteries.
Automakers and battery companies have raced to develop lithium-ion technology, seen by many as the key to mass producing hybrid vehicles powered by conventional and electric motors.
Daimler AG plans to introduce a gasoline-electric hybrid version of its Mercedes-Benz flagship S-Class luxury sedan that also uses a lithium-ion battery starting next year.
NEW YORK
Forecasts worry Citigroup investors
Citigroup stockholders Tuesday recoiled at forecasts of more losses at the troubled bank and comments from a Middle East fund executive that Citi must raise more cash to stay in business.
Samir al-Ansari, chief executive of the $13 billion government-owned investment firm Dubai International Capital, said Tuesday that it will take more than the combined efforts of the Gulf's wealthiest investors -- the Abu Dhabi Investment Authority, the Kuwait Investment Authority and Saudi Prince Alwaleed bin Talal -- to save Citigroup.
BOSTON
Sagging customer demand hurts Staples
Staples on Tuesday reported lower customer traffic and lower earnings from sagging U.S. customer demand.
Staples earned $333.2 million, or 47 cents per share, in the three months ended Feb. 2, down from $336.5 million, or 46 cents per share, a year earlier.
Sales rose 1 percent to $5.32 billion
NEW YORK
Treasury prices slide after Fed warning
Long-term Treasury prices fell Tuesday after a Federal Reserve official's inflation warning intensified worry over commodities prices.
The benchmark 10-year Treasury note fell 0.19 points to 99.34 with a yield of 3.58 percent, up from 3.55 percent late Monday according to BGCantor Market Data.
