UNITED STATES

With time running short, President Barack Obama failed on Tuesday to break a deadlock in budget talks between his Democrats and Republicans that threatens a partial shutdown of the government.

With time running short, President Barack Obama failed on Tuesday to break a deadlock in budget talks between his Democrats and Republicans that threatens a partial shutdown of the government.

The White House, locked in a battle on the 2011 budget, weighed in on the 2012 Republican proposal unveiled on Tuesday, saying it did not do enough to spread the sacrifice needed to reduce the federal budget deficit in the coming years.

President Barack Obama said on Tuesday that if House and Senate leaders could not reach a deal on the 2011 fiscal budget, he wants to meet with them again Wednesday until the matter is settled.

Daimler AG's Mercedes-Benz is undertaking a global recall of some of its older-model M-Class sport utility vehicles for issues related to cruise control that may lead to a crash, Daimler and U.S. federal safety regulators said on Tuesday.

CBOE Holdings Inc Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, received a giant pay boost for his efforts.

Trade-by-trade and sometimes using a calculator, an FBI agent testified at hedge fund founder Raj Rajaratnam's insider trading trial how the government matched phone records with transactions that it contends were based on illegal confidential information.

Shares of Google Inc fell nearly 3 percent on Tuesday, following a Bloomberg report that the U.S. Federal Trade Commission is considering an antitrust investigation of the company's dominance of the Web search industry.

President Barack Obama warned on Tuesday that a federal government shutdown would seriously disrupt the U.S. economy, after Republican and Democratic leaders failed to make headway on a budget deal.

The Obama administration is preparing a comprehensive proposal for corporate tax reform in an effort to kickstart the legislative process in Congress, U.S. Treasury Secretary Timothy Geithner said on Tuesday.

U.S. stocks advanced on Tuesday as a large acquisition helped lift positive sentiment and offset another rate hike in China.

President Barack Obama will visit Facebook's California headquarters on April 20 and hold a town hall forum on the economy with Facebook Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg, the White House said on Tuesday.

House Speaker John Boehner and Senate Majority Leader Harry Reid are meeting together with their teams to avert a federal shutdown on April 8 -- President Barack Obama's team won't be at the meeting at the Speaker's request, the President said Tuesday.

Former BP Plc chief executive Tony Hayward denied on Tuesday he was setting up an investment firm as he left a private meeting in one of the most luxurious hotels in the United Arab Emirates.

Divisions at the U.S. Federal Reserve over how soon to reverse course on monetary policy emerged more clearly last month, although the central bank appeared intent to complete a $600 billion bond-buying plan.

The jury at Galleon Group hedge fund founder Raj Rajaratnam's insider trading trial will not hear evidence of videotapes, fax and phone records from 1998 linking him to a former Intel Corp employee, the judge ruled on Tuesday.

CBOE Holdings Inc Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, got a $9.58 million pay package in 2010.

Republicans and Democrats failed to reach agreement on Tuesday during White House talks aimed at forging a budget deal that would keep the U.S. government operating beyond Friday.

The U.S. services sector growth slowed in March, according to an industry report released on Tuesday.

Brent crude jumped to a 2-1/2 year peak above $122 a barrel on Tuesday, gaining for a fourth day as conflict and unrest in Africa and the Middle East more than offset China's latest interest rate hike.

FOMC Meeting Minutes March 2011