IBT Staff Reporter

Stocks rallied on Tuesday, with banks and technology shares leading the way higher as stronger-than-expected retail sales and signs of easing in the euro zone were signals the global economy was gaining momentum.

Canon Inc aims to cut at least 400 billion yen ($4.84 billion) in costs over four years to soften the likely impact of a strong yen and an economic slowdown in Europe, the Nikkei reported.

The Federal Reserve on Tuesday acknowledged recent signs of strength in the economy and said recent financial market strains have eased, offering few clues on the chances for further monetary easing.

Baseball Hall of Fame pitcher Sandy Koufax may testify for the owners of New York Mets at a civil trial accusing them of turning a blind eye to Bernard Madoff's epic fraud.

Banks and technology shares led the S&P 500 and Nasdaq to multi-year highs on Tuesday as U.S. retail sales exceeded expectations last month and concerns eased about the euro zone's crisis.

The Senate will vote this month on a bipartisan measure already passed by the House of Representatives to make it easier for small firms to raise capital, according to a Senate Democratic aide.

Banks and technology shares led the S&P 500 and the Nasdaq more than 1 percent higher on Tuesday as U.S. retail sales exceeded expectations last month and concerns eased about the euro zone's crisis.

Walt Disney Co. shareholders reelected 10 members of the Disney board during the company's annual shareholder meeting despite opposition from shareholder groups who had recommended a vote against four board members.

JPMorgan Chase & Co is paying the federal government $45 million to settle a lawsuit alleging it charged veterans hidden fees in mortgage refinancings.

The S&P 500 and Nasdaq hit multi-year highs on Tuesday as U.S. retail sales rose more than forecast last month and as concerns eased about the euro zone's crisis.

NEW YORK (TheWrap.com) - Jon Stewart thinks traditional reporters are a little annoyed that it took a viral video to make people pay attention to the atrocities of Ugandan rebel leader Joseph Kony.

Goodrich Corp shareholders voted on Tuesday to approve selling the maker of aircraft components to diversified manufacturer United Technologies Corp for $16.5 billion.

The number of jobs waiting to be filled dropped slightly in January, the government said on Tuesday.

Southwest Airlines Co does not expect to report a profit for the current quarter because of high fuel prices, the company's finance chief said on Tuesday.

Chevron Corp reiterated plans to grow production by about a fifth by 2017, helped by massive liquefied natural gas projects in Australia that are set to start up beginning in 2014.

U.S. retail sales posted their largest gain in five months in February as Americans stepped up purchases of motor vehicles and other goods even as they paid more for gasoline.

Japanese billionaire Kazuo Okada, embroiled in a legal fight with former partner Steve Wynn, the chairman of casino operator Wynn Resorts, used a video on Tuesday to deny claims by the Las Vegas mogul that he was unsuitable to be a company director.

Stocks rose at the open on Tuesday on easing concerns about the euro zone's economy and after a report showed better-than-expected retail sales last month.

Britain's Financial Services Authority has fined Nicholas Kyprios, head of Credit Suisse's European Credit Sales business in London, 210,000 pounds ($327,900), alleging that he gave away confidential client information.

CNN is in talks to buy social media news site Mashable for more than $200 million, according to a source familiar with the discussion.

At least 50 advisers who managed nearly $12 billion in client assets at Merrill Lynch have left the thundering herd since January 1, based on moves tracked by Reuters.

Retail sales recorded their largest gain in five months in February as Americans snapped up motor vehicles and bought a range of goods even as they paid more for gasoline, government data showed on Tuesday.

Supply concerns over Apple Inc's new iPad are overblown, Jefferies said in a note, adding that the company is expected to produce 12-15 million tablets this quarter.

The World Trade Organization said on Monday it had upheld the bulk of a ruling that Boeing received billions of dollars of subsidies to compete with Europe's Airbus , as both sides once again claimed victory in a long-running trade row.

Volkswagen AG unit Audi is in talks to buy Italian motorbike maker Ducati, two sources familiar with the matter said, in a deal that could extend a long-standing rivalry with BMW to superbikes.

Stock index futures advanced on Tuesday ahead of data that could provide clues about the intensity of consumer spending and before a monetary policy announcement from the Federal Reserve.

Stock index futures advanced on Tuesday ahead of data that could provide clues about the intensity of consumer spending and before a monetary policy announcement from the Federal Reserve.

The European Union, United States and Japan formally asked the World Trade Organization on Tuesday to settle a dispute with China over Beijing's restriction on exports of raw materials, including rare earth elements critical to major industries.

Stock index futures advanced on Tuesday ahead of data that could provide clues on the level of consumer spending and before a policy announcement from the Federal Reserve.