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GM to ink Tengzhong-Hummer deal in September

General Motor is to wrap up its Hummer deal with China's Tengzhong at the end of September, the Beijing Youth Daily reported on Monday.

AIG's new CEO takes scissors to restructuring plan

Robert Benmosche, the newly appointed chief executive of AIG , has started to cut up the insurer's restructuring plan, deciding it is better to hold on to an investment advisory unit that is part of the insurer's retirement services group.

Diane Kruger tailor-made for Tarantino film

When filmmaker Quentin Tarantino was looking for a German actress to play a 1940s German screen siren-turned-spy in his movie

Paris Hilton won't owe $8.3 million for film flop

Celebrity heiress Paris Hilton will not have to pay $8.3 million in damages claimed by the receiver for a defunct entertainment firm who said she failed to promote a movie flop called

More news

Netanyahu limits new projects in settlements

Prime Minister Benjamin Netanyahu has refrained from initiating new housing projects in Israeli settlements in the West Bank, hoping to reach common ground with Washington, a government minister said on Tuesday.

Top Taliban spokesman arrested: Pakistan official

Pakistan's security forces have arrested top Taliban spokesman Maulvi Omar in the northwest tribal district of Mohmand, military officials said Tuesday.

U.S. housing starts, producer prices fall in July

Ground-breaking on new U.S. family homes rose for a fifth month in a row and producer prices tumbled, keeping hopes for economic recovery alive.

Oil settles above $69 on Wall Street gains

Oil rose more that 3 percent to top $69 a barrel on Tuesday as stronger-than-expected earnings results lifted equities and boosted optimism about the economy.

GM raises production as clunker sales rise

General Motors Co said on Tuesday it is increasing production in North America for the second half of 2009 after a surge in sales ignited by the U.S. government's Cash for Clunkers incentives program.

Hurricane Bill still growing, U.S. unlikely target

Hurricane Bill headed west-northwest over the open Atlantic Tuesday on a path toward Bermuda that would likely keep it clear of the U.S. East Coast but could spell trouble for Canada's Maritime Provinces.

1 in 4 songs sold in U.S. is from iTunes

iTunes-purchased songs now account for 25 percent of the overall music market--both physical and digital--in the U.S., according to an NPD Group report released Tuesday.

Best of track

Wall Street regains ground

Stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.

Sony rolling out new, cheaper PlayStation 3

Sony Corp will launch a slimmer, cheaper version of its PlayStation 3 game console next month, hoping to jumpstart sales and win back market share from rivals Microsoft and Nintendo.

Michael Jackson burial set for August 29

Representatives for Michael Jackson's family said on Tuesday he would be buried on August 29, which would have been the pop star's 51st birthday, as they outlined plans for a private ceremony with family and friends.

U.S. says building criminal cases against UBS clients

The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.

Mid-Day Minute - August 18

Tax Evasion Targets; Wall St Rebounds; Now Hiring at GM

Jenny Sanford feels sorry for Maria Belen Chapur

Jenny Sanford, wife of South Carolina governor, in an interview with Vogue.com said she felt sorry for her husband's Argentinean lover, Maria Belen Chapur.

Sony to cut price for PlayStation 3 console

Sony Corp will launch a cheaper version of its PlayStation 3 game console and plans to cut prices on existing models effective August 19 in Europe and the United States to bolster sales and take aim at rivals Microsoft and Nintendo.

Obama sees progress on Israeli settlements issue

U.S. President Barack Obama, said Tuesday he saw encouraging signs of a softening of Israel's resistance to his call for a freeze on settlement-building in the occupied West Bank.

Retailers and tech lead gains on Wall Street

U.S. stocks rose on Tuesday, erasing some of the sharp losses in the previous session as better-than-expected results from big retailers encouraged investors' back into the market.

Robert Novak dies at 78

Political columnist, Robert David Novak, died Tuesday at his home in Washington following a year-long battle with brain cancer.

Cost cuts help Home Depot beat estimates

Home Depot Inc posted a better-than-expected quarterly profit and raised its full-year forecast after cost cuts kicked in and sales improved in areas that had been hard hit by the U.S. housing downturn.

U.S. says targeting 150 UBS clients for tax evasion

PIMCO'S El-Erian: U.S. stock rally has hit a wall

Mohamed El-Erian, the chief executive of top bond fund manager PIMCO, on Tuesday said the rally in U.S. stocks had topped out because valuations have shot up too quickly.

Housing report keeps recovery hopes alive

Ground breaking for new U.S. homes fell in July, but a fifth straight monthly rise in single-family home construction kept hopes alive the economy was poised to recover from recession.

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