Headline News: Business

• HP in talks to buy EDS to compete with IBM (Reuters)
  

  Reuters - Hewlett-Packard Co is in talks to buy technology outsourcing company Electronic Data Systems Corp for $12 billion to $13 billion in a deal which would vault it to a close second to IBM in technology services.

  
  
  
• Finmeccanica buys DRS for $5.2 bln, shares droop (Reuters)
  Reuters - Finmeccanica SpA said it would buy U.S. military contractor DRS Technologies Inc. for $5.2 billion, the biggest deal so far in European defense contractors bid for a slice of the growing U.S. defense market.
  
• Lockheed likely to win GPS satellite contract: report (Reuters)
  Reuters - Lockheed Martin Corp is likely to win a contract over Boeing Co to build next generation navigation satellites for the U.S. military, the Wall Street Journal said on Tuesday, citing people familiar with the contract.
  
• AIG sees no need to honor ex-CEO request to delay AGM (Reuters)
  

  Reuters - Maurice "Hank" Greenberg, former chief executive of American International Group , has said the insurer is in "crisis" and urged a delay in its annual general meeting scheduled for Wednesday, according to a letter he sent to the board.

  
  
  
• Staples ups hostile Corp Express bid to $2.3 billion (Reuters)
  Reuters - U.S. office supplies retailer Staples Inc raised its hostile offer for Corporate Express by more than 10 percent, valuing its target at about 1.5 billion euros ($2.3 billion), and said the Dutch business products wholesaler was still refusing to talk.
  
• Survey: 1 in 10 boomers borrowing for everyday expenses (AP)
  AP - The economic downturn is hitting roughly one in 10 middle-aged and older Americans especially hard, compelling them to borrow money for everyday living expenses and to seek help from family, friends or charities, according to a survey released Tuesday by the AARP.
  
• HSBC rebel urges independent adviser for U.S. arm (Reuters)
  

  Reuters - HSBC is underestimating problems at its troubled U.S. consumer finance arm, a rebel shareholder said on Monday and called on the bank to appoint an independent financial advisor to consider options for the unit.

  
  
  
• AnnTaylor shares jump on raised forecast (Reuters)
  Reuters - AnnTaylor Stores Corp raised its first-quarter earnings forecast on Monday, citing lower inventories and improvement at its LOFT chain, sending shares of the women's clothing retailer up 11.5 percent.