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Cerberus dismisses talk of fund defaults

Cerberus Capital Management LP on Tuesday dismissed market speculation that some of its hedge funds, which have suffered losses and heavy redemptions, are in danger of default.

Tropical depression could form within 48 hours: NHC

The U.S. National Hurricane Center said Monday a broad area of low pressure about 500 miles east of the Lesser Antilles in the Atlantic Ocean had a high chance of becoming the season's next tropical depression during the next 48 hours.

Yen and dollar rise as investors remain cautious

The yen and dollar rose on Tuesday as fears of further U.S. bank failures overshadowed unexpectedly strong U.S. manufacturing data, boosting the two currencies' safe-haven appeal. Major U.S. stock indexes .DJI .SPX .IXIC were down nearly 2 percent in afternoon U.S. trading as investors fretted that chatter from hedge funds on a bank failure could prove accurate.

Oil slips below $69 on equities, dollar

Oil prices fell below $69 a barrel on Tuesday as economic concerns sent investors into safer havens, outweighing positive U.S. manufacturing and home sales data.

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Germany: Google book deal violates copyright law

Google Inc's plan to digitize millions of books would violate German copyright law and the country's privacy protections for Internet users, the German government said in a U.S. court filing.

China, India, US, Germany lift coal plant demand

China, India, the United States and Germany are looking to replace old coal-fired energy plants, helping make up for slack overall global demand, Hitachi Power Europe's business development manager said.

Germany gives objections on Google online books

Germany's government has submitted written arguments to a court in New York against plans by Internet group Google to publish millions of scanned books online, the Justice Ministry said on Tuesday.

Bank shares slide, pushing Wall Street down 2 percent

Investors dumped U.S. stocks on Tuesday, spooked by uncertainty over the health of financial companies and concerns that the explosive rally since March may have run ahead of economic reality.

Oil slips 1 percent on equities and dollar

Oil prices fell on Tuesday as economic concerns sent investors into safer havens, outweighing positive U.S. manufacturing and home sales data.

U.S. auto sales boom but clunker hangover looms

U.S. auto sales boomed in August as consumers burned through $3 billion in government incentives, leaving automakers to contend with both inventory shortages and uncertain demand in the months ahead.

Cost of new NYC water plant doubles: Comptroller

New York City's new Croton water treatment plant will cost more than twice the original estimate of $992 million and it will not be finished on time, the city comptroller said on Tuesday.

CIT defers interest payment, shares fall

Troubled U.S. lender CIT Group on Tuesday said it deferred an interest payment on some notes, sending its shares down as much as 17 percent.

U.S. ethanol group wants origin labeling for oil

NEW YORK - A U.S. ethanol industry group is pushing lawmakers to craft legislation requiring fuel companies to inform customers what country their fuel came from in hopes of increasing awareness about money spent on oil imported from overseas.

U.S. awards $503 million for renewable energy projects

The U.S. Energy and Treasury Departments on Tuesday announced $503 million in government cash grants to companies developing renewable energy projects.

Obama to review Afghan report this week

President Barack Obama will review a new U.S. military report on Afghanistan this week and any decision on changing the U.S. presence there is weeks away, Obama's spokesman said on Tuesday.

GM board to discuss Opel's future Tuesday -sources

The General Motors [GM.UL] board of directors will discuss the future of Opel in a telephone meeting on Tuesday, two sources familiar with the matter told Reuters.

Wall St tumbles on worry about more bank failures

U.S. stocks sank on Tuesday on increasing worries that there could be more bank failures and concerns that equity prices may have run ahead of the economic recovery.

U.S. August auto sales boom but clunker hangover looms

U.S. auto sales boomed in August as consumers burned through $3 billion in government incentives, leaving automakers to contend with both inventory shortages and uncertain demand in the months ahead.

Anand Jon's fashion designs tainted by criminal activity

Celebrity fashion designer Anand Jon Alexander, 35 was sentenced to a minimum of 59 years in prison on Monday for sexual assaulting aspiring models, according to the Los Angeles County District Attorney's Office.

UPDATE 1-Chrysler U.S. sales down 15 pct in August-source

DETROIT - Chrysler Group LLC's U.S. sales fell 15 percent to 93,222 units in August due to inventory shortages related to extensive summer shutdowns during its bankruptcy restructuring, a source briefed on the matter said on Tuesday.

Offshore private banking model is dead, experts say

A U.S. tax probe against Swiss bank UBS has killed traditional offshore banking and wealth managers will have to improve their offers to survive, bankers and industry experts said on Tuesday.

Chrysler U.S. sales down 15 pct in August-source

Chrysler Group LLC's U.S. sales fell 15 percent to 93,222 units in August due to inventory shortages related to extensive summer shutdowns during its bankruptcy restructuring, a source briefed on the matter said on Tuesday.

Dow, S&P fall 1 percent as caution lingers

Stocks fell on Tuesday as investors fretted that prices may have run too far ahead of the economic recovery even as data showed the U.S. manufacturing sector expanded in August after a long slump.

U.S. factories see growth; China on recovery path

Manufacturers from several nations delivered upbeat news on Tuesday, indicating a recovery from the deepest global recession since World War Two is gradually gaining traction.

Lenovo eyes Shanghai listing, profit by March

Lenovo, the world's No. 4 PC brand, says it plans to list on the Shanghai stock exchange when rules permit, opening an opportunity for the firm in one of the world's best performing stock markets.

Forex.com parent seeks $125 mln in IPO

Gain Capital Holdings Inc, an online provider of retail foreign exchange trading services, is planning to raise up to $125 million in the public markets, according to a regulatory filing on Monday.

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