IBT Staff Reporter

Michael Kors Holdings Ltd reported robust quarterly results as its namesake luxury brand saw strong demand, and said it expects its accessories business to drive profits in the coming quarters.

India's determination to pursue trade with Iran despite Western sanctions could be undermined as wary exporters back away from fresh deals after a bomb attack in New Delhi blamed on Tehran, a trade association chief said on Tuesday.

President Barack Obama said on Tuesday he had seen hopeful signs that Congress would pass a payroll tax cut extension for the full year, as he kept pressure on lawmakers to take action he said was needed to keep the U.S. recovery on track.

Avon Products Inc reported weaker-than-expected fourth-quarter results as sales slid in every market except Latin America and the company saw a sharp drop in the number of representatives essential to selling its cosmetics directly to consumers.

Amazon.Com Inc, which has been spending heavily on expansion, said it will spend more than $90 million to open a fulfillment center at Middletown in Delaware.

President Barack Obama said on Tuesday he had seen hopeful signs that Congress would pass a payroll tax cut extension for the full year, as he kept pressure on lawmakers to take action he said was needed to keep the U.S. recovery on track.

The S&P 500 index retreated on Tuesday from near a seven-month high after weaker-than-expected January U.S. retail sales data curbed investors' appetite for risky assets.

Avon Products Inc reported weaker-than-expected fourth-quarter results as sales slid in every market except Latin America and the company saw a 3 percent drop in the number of representatives who sell its cosmetics directly to consumers.

President Barack Obama said on Tuesday he had seen some hopeful signs that Congress would pass a payroll tax cut extension for the entire year, as he maintained pressure on lawmakers to take action he said was needed to keep the U.S. recovery on track.

Retail sales rose less than expected in January, hurt by discounting in the auto sector, but a rebound in an underlying measure of sales suggested a solid underpinning for the economy's recovery.

Retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

Retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

Philips Electronics said it shut down one of its servers on Monday because of a possible cyber attack and that it was investigating the nature and extent of the information that might have been accessed.

For years, Craig McCann played a prominent role as a top expert witness, his testimony helping to win millions of dollars for investors who sued financial companies.

Business inventories rose 0.4 percent in December, reinforcing the view that fourth-quarter economic growth received a big boost from companies restocking their shelves.

Treasury Secretary Timothy Geithner warned on Tuesday that Europe's debt problems along with the slowdown in other major economies present potential impediments to U.S. growth.

For years, Craig McCann played a prominent role as a top expert witness, his testimony helping to win millions of dollars for investors who sued financial companies.

Xstrata PLC is looking to sell 20 percent of its proposed A$6 billion (US$6.4 billion) Wandoan Coal Project, to take place west of the Wandoan township in Queensland, Australia.

Italy's three-year borrowing costs hit their lowest since March at an auction on Tuesday, with an overnight sovereign rating cut having little impact as cheap ECB loans continued to support demand and ease its path towards an ambitious refinancing goal.

Millions of Iranians have suffered serious disruption recently in accessing email and Internet social networking sites, raising concerns authorities are stepping up censorship of opposition supporters ahead of parliamentary elections next month.

Michael Kors Holdings Ltd. reported higher quarterly results, helped by strong demand for its namesake luxury brand, sending shares of the designer apparel and accessory company up 23 percent.

Wynn Resorts Chief Executive Officer Steve Wynn played down a U.S. regulatory inquiry into a company donation at the heart of a bitter legal battle embroiling his $15 billion casino empire, hitting back at his largest shareholder and accuser in a memo to employees.

Wall Street was set for a lower open Tuesday after weaker-than-expected January U.S. retail sales data curbed investors' appetite for risky assets.

Rating agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis.

The European Central Bank's profits from Greek bonds could be used to help restructure Greece's debt, Executive Board member Benoit Coeure said, spelling out how the ECB's funds could play a role in Athens' debt deal.

Stock index futures were little changed Tuesday as upbeat data from Germany offset Moody's ratings downgrade of six euro-zone countries and investors remained concerned about the financial health of the region.

Avon Products Inc's reported weaker-than-expected fourth-quarter results as sales slid in every market except Latin America and the cosmetics direct seller lost sales representatives.

Stock index futures edged up Tuesday after upbeat data from Germany offset ratings agency Moody's downgrade of six euro zone countries.

Mayor Michael Bloomberg, who has taken a lot of heat from his decision to ban worship services from public schools, defended his administration's decision Monday.