Oil slipped under $50 a barrel on Tuesday on forecasts for softer 2009 global petroleum demand and for a weekly build in U.S. crude supplies.
Swiss banking giant UBS is likely to cut upwards of 10000 jobs as it succumbs to the global financial meltdown.
The former CEO of Qwest International Inc , convicted of insider trading, lost his bid to further delay his prison sentence on Tuesday after the U.S. Supreme Court rejected his appeal.
Johnson & Johnson said on Tuesday its quarterly earnings fell, hurt by generic competition for its Risperdal schizophrenia drug and the strong dollar, but lower costs enabled the company to beat Wall Street expectations
North Korea has asked the International Atomic Energy Agency(IAEA) inspectors to leave the country Tuesday as soon as possible.
Stocks extended losses on Tuesday as worries about consumer spending were stoked by an unexpected drop in retail sales and investors sold off financial shares.
Citigroup Inc shares surged to a three-month high on Tuesday on expectations of strong quarterly results, one day after Goldman Sachs Group Inc posted surprisingly strong earnings.
The Obama administration is expected to name Fannie Mae Chief Executive Herb Allison to head the U.S. government's $700 billion financial rescue program, a source familiar with the matter said on Monday.
Discover Financial Services , the fourth-largest U.S. credit card network, will cut 500 jobs, or 4 percent of its workforce, in May, hurt by mounting credit losses, the company said on Tuesday.
Oil erased an earlier gain to trade near $50 a barrel on Tuesday after weak U.S. economic data refocused attention on falling global oil demand and forecasts for rising U.S. supplies.
Sales at U.S. retailers unexpectedly fell 1.1 percent in March after rising for two straight months, government data showed on Tuesday, dimming hopes the 16-month-old recession was close to hitting bottom.
President Barack Obama's lifting of U.S. curbs on family travel and remittances to Cuba will bring divided families closer and supplement stressed budgets on the island, Cubans and Cuban Americans said on Monday.
More than 8,000 Philippine and United States troops began annual war games this week, underscoring their strong security ties despite controversy over the conviction of a U.S. Marine on rape charges.
Iran's president, Mahmoud Ahmadinejad, will attend next week's United Nations conference on racism in Geneva, a U.N. spokeswoman said on Tuesday.
An Iranian-American journalist has gone on trial in Iran for spying for the United States and a verdict is expected soon, the judiciary said on Tuesday.
Somali pirates hijacked two more cargo vessels and opened fire on a third on Tuesday in attacks that showed their determination to continue striking shipping in the area's strategic waterways.
North Korea said on Tuesday it saw talks on ending its nuclear weapons program as useless and it planned to restart a plant that makes arms-grade plutonium, state media quoted its Foreign Ministry as saying.
Deere & Co said on Tuesday it will combine its worldwide agricultural equipment division with its commercial and consumer equipment unit into a single division to reduce costs, starting on May 1.
North Korea said on Tuesday it would quit international nuclear disarmament talks and restart a plant that makes bomb-grade plutonium after the United Nations chastised it for launching a long-range rocket.
President Barack Obama will give Americans a progress report Tuesday on his steps to rescue the recession-hit economy, telling them there are signs of recovery but by no means are we out of the woods just yet.
Stocks fell on Tuesday after an unexpected drop in retail sales dampened recent optimism over the state of the U.S. economy.
General Motors stock fell sharply in Frankfurt on Tuesday on renewed bankruptcy fears, weighing on autos stocks across the region, as peer Chrysler pinned its hopes on a tie-up with Fiat .
