The United States and Britain have reached an understanding with Libya (search) requiring Moammar Gadhafi's government to renounce terrorism, accept responsibility for the 1988 bombing of a Pan Am jet and compensate families of the 270 victims, U.N. diplomats said Tuesday.

Is this the final step in bringing closure to the victims’ families? We’ll be joined by Bert Ammerman, who lost his brother Thomas in the bombing; Eileen Monetti, who lost her son Rick, and Dan Cohen, author of Pan Am 103 who lost his daughter Theodora.

Why is the airline industry balking at the latest push to retrofit their planes to ward off heat-seeking missiles? We’ll ask Issac Yeffett, former head of security for El Al Airlines and a former Israeli intelligence agent, and Marc Ginsberg, former U.S. ambassador to Morocco.

Think your job is tough? Imagine having to distance your company from its shady past, get out of bankruptcy, turn around its culture and beef up sales. Sounds too hard? That’s what MCI is asking of its new president and COO, Rick Roscitt, former chief of ADC Telecom.

Buy, sell or hold? We’ll take the market’s temperature with Gary B. Smith, columnist for RealMoney.com, and Gregg Hymowitz, founder of Entrust Capital.

As the third wave of child tax credit checks arrive in the mail, will consumers’ urge to splurge give this economy a jolt? We’ll ask Don Marron, chairman of the private equity group Lightyear Capital.

Plus, following a new wave of terrorist attacks, Israel appears to be demonstrating some restraint by not retaliating. Is this a sign that the peace process is making progress? Ehud Olmert, Israeli vice prime minister, joins the debate.

And, the stock market remains volatile as the economy continues to sputter. Can the Bush administration get the economy back on track? Treasury Secretary John Snow (search) answers on tonight’s edition of Your World with Cavuto.

About Your World...

More than just facts and figures, Your World with Cavuto gets to the heart of the matter with in-depth analysis from our FOX Business News All-Stars:

Terry Keenan, host of Cashin' In
Brenda Buttner, host of Bulls & Bears
David Asman, host of Forbes on Fox