IBT Staff Reporter

Exxon Mobil can look for oil in Russian territory in the Arctic Ocean under an agreement made Tuesday with Rosneft, the Russian state oil company. The deal is huge for Exxon Mobil, which beat BP for access to a region in which oil drilling is largely prohibited.

National Guard and firefighters rescued hundreds people from record flooding in New Jersey on Tuesday and Vermont planned to airlift food and water to inland towns cut off by Hurricane Irene after its paralyzing rampage through the U.S. northeast.

Wendy’s is moving its corporate offices to Dublin, Ohio, from Atlanta, where it has been headquartered since the merger with Arby’s in September 2008.

Local and state governments axed more than 200,000 jobs in 2010, according to U.S. Census data released on Tuesday that showed the growing threat of public employee layoffs to the economic recovery.

The Passaic River in northern New Jersey crested Tuesday morning and forced mandatory evacuations.

A top Federal Reserve official who dissented from the central bank's move this month to ease monetary policy further signaled he would drop his opposition.

Oracle Corp accused Hewlett-Packard Co of fraud for concealing facts during negotiations between the two companies, according to a court filing.

New York City-based Pfizer Inc. gained FDA approval for their drug Xalkori, the first new medicine in several years for deadly, advanced lung cancer, according to new research.

A report denies Apple will enter the world of streaming music via the cloud.

General Motors and LG Group will jointly design and engineer future electric vehicles.

The central bank in early August discussed a range of unusual tools it could use to help the economy, with some officials pressing for bold new steps to help the economy.

A study conducted by Duke University shows that for those looking to lose belly fat, aerobic exercise is more effective than weight training.

A full night of Gordon Ramsay-generated culinary drama pushed Fox to an overall win on Monday night, while ABC's Bachelor Pad got a slight bump in the ratings, according to preliminary numbers.

Beyonce's pregnancy was finally confirmed at the 2011 MTV VMAs Sunday night, giving Twitter a record-breaking bump and filling her fans with excitement and joy.

When Glen Campbell made a comeback bid in 2008, there was one aspect of his concert appearances that invited audiences' ridicule or alarm -- not his delivery, which was still pitch-perfect, but the fact that his eyes were glued to his Teleprompter for even his most familiar hits. Could he really be afraid he'd forget the words to the chorus of Galveston?

The big worry for Red Hot Chili Peppers fans leading into I'm With You, their 10th album, was whether new guitarist Josh Klinghoffer could possibly measure up to the legacy of departed axeman John Frusciante, who'd been with the Chili Peppers for most of their career and all their most popular recordings.

Nicollette Sheridan hit another setback in her lawsuit against ABC and Desperate Housewives creator Marc Cherry, the Associated Press reports.

Film financier David Bergstein is suing his former attorney Teri Zimon for $50 million, alleging that she helped encourage his creditors to drive him into involuntary bankruptcy.

Those who favor more government spending to fix the economy are neck and neck with those who wish to cut the budget deficit without delay.

Stocks rose on Tuesday, reversing earlier declines sparked by a disappointing consumer confidence report as investors continued to see value in beaten-down prices.

Hewlett-Packard Co may resurrect its TouchPad as it weighs a spinoff of its personal computer arm, the head of its PC division said, suggesting HP might revive a tablet that lasted just six weeks in the face of stiff competition from Apple Inc.

R&B star Chris Brown wowed fans and celebrities at Sunday's MTV Video Music Awards, apparently impressing Lindsay Lohan so much that the 25-year-old actress would flirt-tweet at him.

Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter.

The Federal Reserve considered a range of actions to help a struggling economy at its August meeting, including the unprecedented step of tying the interest rate policy outlook to a specific unemployment level.

Metro-North Railroad to and from New York City resumed full service on its major lines, while some remain indefinitely suspended.

South Africa's economy grew at its slowest pace in almost two years in the second quarter as the manufacturing and mining sectors slumped after strikes, boosting the case for interest rate cuts while denting the government's job-creation hopes.

The biggest impact from QE3 could come from Ben Bernanke announcing it rather than it actually going into effect.

Two top Federal Reserve officials diverged on Tuesday on the need for further action by the central bank to stimulate the flagging economic recovery, underscoring the dilemma faced by Fed Chairman Ben Bernanke.

Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter.