IBT Staff Reporter

Lawyers for Trust Company of the West and its former chief investment officer, star bond fund manager Jeffrey Gundlach, presented their closing arguments Tuesday to a 12-person jury that is to decide their fate.

Those redirected into the small town of Gander, Newfoundland return to thank residents for their kindness during the tragedy of September 11, 2001.

The anniversary of September 11 brought fearful travel on two airlines escorted by fighter jets.

Though Apple has not announced anything officially about the highly anticipated iPhone 5, rumors about the probable specifications (based on details embedded in the beta version of iOS 5 and improvements expected on the next iPhone), have turned cacophonous on the web.

Elephants are taking over the game of polo at the King's Cup Elephant Polo Tournament in Thailand.

An autistic boy who disappeared on Monday in Southern California was found safe on Tuesday in a rare happy ending to a missing-child story.

Boston Scientific Corp named Johnson & Johnson executive Michael Mahoney as its new president and chief executive, replacing Ray Elliott, who announced in May he intended to step down.

The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.

International alarm over Europe's debt crisis hit new heights on Tuesday, with President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy.

Cisco Systems Inc slashed its long-term forecasts, acknowledging an end to an era of scorching growth after cutting thousands of jobs in a sweeping four-month reorganization.

Washington insiders have high hopes for legislation this year that would open up large swaths of spectrum to wireless companies desperate to meet the booming demand for data-heavy wireless devices.

U.S. prosecutors have launched a criminal probe into whether eBay Inc employees took confidential information from classified ad website Craigslist as eBay sought to build a rival service, a copy of a grand jury subpoena obtained by Reuters shows.

Fidelity Investments replaced Harry Lange on Tuesday as portfolio manager of its famed Magellan Fund after years of underperformance at the one-time flagship.

U.S. airlines may face a challenging outlook for the rest of the year, but strong travel demand and fourth-quarter capacity cuts are ensuring that airlines fly full airplanes, executives said on Tuesday, and their shares rose sharply.

Tyler Perry is the highest paid man in the entertainment industry according to Forbes magazine, raking in $130 million last year.

The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.

Delta Air Lines Inc , which ordered 100 Boeing Co 737 planes last month, said on Tuesday it was not planning any more aircraft orders in the next couple of years.

Mitt Romney is catching up to Rick Perry in at least one poll: the Gallup Positive Intensity Score, which measures the difference between strongly favorable and strongly unfavorable opinions of each candidate.

JPMorgan Chase & Co's trading revenue is running 30 percent lower this quarter than the previous period, while investment banking fees are likely to fall by about 50 percent, a senior executive said on Tuesday.

Russian Space Agency Roscosmos is delaying the launch of the next manned Soyuz mission until Nov. 12 because of a recent accident involving a supply ship.

Networking giant Cisco Systems Inc slashed its long-term forecasts, acknowledging that it will find it harder to drive growth even after cutting thousands of jobs in a sweeping reorganization.

CME Group Inc , whose roots in Chicago date to 1848, is serious about leaving Illinois to avoid high state taxes on business at its three futures exchanges, its chief financial officer said on Tuesday.

Microsoft Corp handed out 5,000 sleek Samsung tablet computers running a test version of Windows 8 at its annual developer conference on Tuesday, hoping to stoke excitement over its new operating system.

Stocks gained on Tuesday as investors bought shares beaten down in recent weeks and bet European leaders would take action soon to ease the Greek debt crisis.

General Electric Co said on Tuesday it would buy back Berkshire Hathaway Inc's preferred stake in the largest U.S. conglomerate, handing back a lifeline it grabbed during the 2008 financial crisis.

More than 1 in 7 Americans is living in poverty, according to the 2010 Census. But what does it mean to be below the poverty line?

The U.S. News and World Report's Rankings of the Best Colleges for 2011

Whitney Houston is negotiating to return to the big screen in Sony's remake of the 1976 film Sparkle, TheWrap has confirmed.

Hollywood continues to churn out a lazy stream of remakes and sequels. The latest? Point Break.