MARKETS / FINANCE

A group of bondholders plans to challenge Bank of America Corp's $8.5 billion settlement with holders in soured mortgage-backed securities, saying it may be unfair to other bond investors.

Stocks ended a thinly traded session mostly flat on Tuesday as investors paused after last week's surge, though continually light volume suggested the market could encounter more choppy trading.

European Union banks would have more breathing space from losses on Greek bonds if the bloc adopted a new international accounting rule, a top standard setter said on Tuesday.

Moody's Investors Service on Tuesday slashed Portugal's credit rating into junk territory, saying there is great risk the country will need a second round of official financing before it can return to capital markets.

Stocks were mostly flat in a thinly traded session on Tuesday as investors digested gains accrued last week, the best week for equities in two years, while strength in Netflix helped lift the Nasdaq.

Google Inc and Microsoft Corp were sued for infringing a Louisiana company's patent with their map websites, which let users navigate street-level views of towns and cities.

Germany's top court began hearing legal challenges on Tuesday against last year's bailouts of debt-stricken euro zone peers in a move that could affect Berlin's room for maneuver in future rescue packages.

New York's top legal officer has sent subpoenas to nine leading life insurers seeking information about their practices in identifying and paying out policies for deceased customers, according to a person familiar with the matter.

The hotel maid who accused former IMF chief Dominique Strauss-Kahn of sexual assault sued the New York Post and five of its journalists for libel on Tuesday for reporting that she was a prostitute.

International banks and insurers will meet on Wednesday to thrash out a plan for the private sector to contribute to Greece's bailout effort as fears grow that the proposal will be derailed.

New orders received by factories bounced back in May, pointing to underlying strength in manufacturing as demand for transportation equipment and a range of other products rose.

Struggling Nokia has cut the prices of its smartphones in Europe, two industry sources told Reuters on Tuesday, raising the possibility of a more intensive price war in the mobile phone market.

Wall Street consolidated on Tuesday after its best week in two years with choppy, low-volume trading seen during the rest of the summer.

Stocks fell slightly after the open on Tuesday after the market's best week in two years last week.

Wall Street consolidated after its best week in two years on Tuesday with choppy, low-volume trading seen during the remainder of the summer.

South Korea's antitrust watchdog said Tuesday it had approved U.S. online auctioneer eBay Inc's move to merge its two e-commerce units in the country.

Long-term investors standing aloof from the Greek debt crisis want holders of its government bonds to take a loss big enough to slash the country's debt to sustainable levels before they consider returning.

LightSquared, the telecom start-up backed by Philip Falcone's Harbinger Capital hedge fund, said on Tuesday that it has raised $265 million in funding from existing and new investors.

International banks and insurers will thrash out improvements to a plan for the private sector to contribute to Greece's bailout effort at a meeting in Paris on Wednesday, in a bid to prevent the proposal coming unstuck.

Stocks were little changed on Tuesday as the market consolidated after strong gains last week and manufacturing data did little to boost investors' sentiment.

Stocks edged lower on Tuesday after stocks had their best week in two years last week and traders waited for direction from U.S. manufacturing data due later in the session.

Nokia has cut the prices of its smartphones in Europe in an attempt to slow the decline in its share of the higher end of the market, two industry sources said on Tuesday.

Stock index futures were poised for a slightly lower open on Tuesday before factory orders data and after stocks had their best week in two years last week, leaving the market primed for a decline.

Samsung has sold 3 million Galaxy S2 smartphones worldwide, excluding the US.

Serial entrepreneur, dog lover, social networking czar and Zynga Inc founder Mark Pincus on Friday took a big step toward joining Wall Street's Internet elite.

European services growth slowed in June in the face of sluggish new orders and rising interest rates, giving firms less optimism about the year ahead, business surveys showed on Tuesday.

South Korean regulators are set to launch a probe into Hana Bank's 1.5 trillion won ($1.4 billion) loan to a unit of U.S. buyout fund Lone Star that holds a majority stake in Korea Exchange Bank <004940.KS>, an official said on Tuesday.

New York Attorney General has issued subpoenas to at least nine leading life insurers to examine whether the firms have adequately ensured payouts on policies of some deceased customers, the Wall Street Journal said, citing people familiar with the matter.

Prosecutors will drop sexual assault charges against ex-IMF chief Dominique Strauss-Kahn at his next court appearance in two weeks, or earlier, because of doubts about the credibility of the alleged victim, the New York Post said Tuesday.