COMPANIES

Pumps are seen at a gas station in Tokyo

Oil up in seesaw trading

Oil prices edged up in choppy trading on Tuesday, lifted by a weak dollar while markets were buffeted by the continued stalemate over the U.S. debt ceiling that hemmed in Wall Street.

Gold flat after hitting record

A gold bar carrying the Euro sign
Gold held steady on Tuesday after the last session's record high, as investors stayed on the sidelines, watching the stalemate in Washington's budget talks to avert a ratings downgrade or default.
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Amazon revenue surges

The largest Internet retailer benefited from growth in e-commerce, though margins continued to be pressured by heavy spending on distribution, technology and digital content.
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BP CEO

Earnings Numbers Show Need for BP to Split

BP announced second quarter earnings of 5.3 billion on Tuesday, a stark contrast from last year's second quarter loss of $17.15 billion, behind profits from skyrocketing oil prices.
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Supervalu profit tops Street view, shares jump

Supervalu Inc's (SVU.N) quarterly profit topped Wall Streets expectations despite sagging sales as the third-biggest U.S. supermarket chain trimmed expenses in a drive to catch up to rivals.
Two McDonald"s Happy Meal with toy watches fashioned after the characters Donkey and Puss in Boots from the movie "Shrek Forever After"

McDonald's Happy Meals get apples and fewer fries

McDonald's Corp said on Tuesday it will soon tweak its children's Happy Meals, reducing the french fry portion by more than half and automatically adding apples to the popular meals, after coming under pressure from consumer groups to provide healthier fare.
Petrol

KenolKobil posts 86 pct H1 pretax profit jump

Kenyan fuel marketer KenolKobil posted an 86 percent jump in first-half pretax profit to 3.22 billion shillings on Tuesday, helped by a 38 percent rise in sales and lower distribution costs.
Soros Fund Management Chairman, Soros, attends a session at the World Economic Forum in Davos

Soros to return outsiders' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself and his family as new regulations threaten to crimp the hedge fund industry he made famous.
International Monetary Fund (IMF) Managing Director Christine Lagarde

IMF chief urges U.S. to immediately resolve debt spat

IMF chief Christine Lagarde on Tuesday urged the United States to quickly resolve a political stalemate over raising the debt ceiling, warning that failure to reach an agreement would have serious consequences for the world economy.
UAW Contract Talks

Ford's Near-Term Future Riding on UAW Talks

Ford's near-term success is riding on getting a new UAW contract that controls labor costs for the next four years. If Ford is successful, the company's costs paid for debt will improve with a credit rating upgrade.
At Issue: U.S. Housing Sector

U.S. Home Prices Rose in May, Aided By Seasonal Factor

Home prices in 20 major U.S. cities rose 1.0 percent in May, Case-Shiller announced Tuesday, as the sector benefited from the arrival of the warmer months -- historically a period when home sales rise. Still, the housing sector remains sluggish, and several more monthly rises will be necessary to conclude that a recovery is underway.
Nissan says aims to nearly double China sales by 2015

Nissan says aims to nearly double China sales by 2015

Nissan Motor , the largest Asian automaker in China, plans to nearly double its annual sales in the country to 2.3 million vehicles by the end of 2015, the company said on Tuesday, as it accelerates its expansion in the world's largest auto market.
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TI forecasts modest third quarter

Texas Instruments Inc gave a lukewarm outlook for the current quarter, suggesting that back-to-school sales of computers and other consumer electronics would be weaker than normal.
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Obama: Spending cuts alone not answer on deficit

President Barack Obama, taking a combative tone in a standoff with congressional Republicans over the U.S. debt, said the country cannot deal with its budget problems through spending cuts alone.
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U.S. airlines raise fares to scoop up tax lapse

Many U.S. airlines raised fares in recent days to take advantage of a drop-off in U.S. ticket tax collection after Congress failed last week to fully fund the Federal Aviation Administration budget, but passengers will likely not notice any price difference.
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Considering Airbnb: 5 Things to Look Out for

Room rental service Airbnb has steadily gained in popularity, but still hasn't worked out all the kinks in its service. IBTimes takes a look at five of the biggest reasons to be weary using Airbnb.
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Fed's QE2 had limited spillover effects, IMF says

The U.S. Federal Reserve's much criticized bond buying spree had only mild side-effects on other economies but the process of tightening monetary policy eventually may reverberate more harshly, an IMF report said on Monday.

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