IBT Staff Reporter

Apple beat oil company Exxon Mobil to briefly became the most valuable business in America, with a jaw-dropping $338 billion dollars on Tuesday. Exxon's stock was down earlier Tuesday, which allowed the Cupertino-based tech company to grab the top spot. Just last year, Apple took Microsoft's number two spot, and on Tuesday became the official most valuable company in America as the ipad, iphone and Macbooks continue to sell successfully.

A Kansas City-area Catholic priest was charged Tuesday with several federal counts of producing and possessing child pornography, including allegations that he took explicit photos of a 2-year-old and tried to take some of a 12-year-old girl on Easter Sunday.

The mother of 10-year-old fashion model Thylane Lena-Rose Blondeau defended her daughter's racy photo shoot in French Vogue, which reignited the debate about the sexualization of young girls.

Lindsay Lohan's 17-year-old sister, Ali, recently signed a multi-year modeling contract with NEXT Model Management.

Raj Rajaratnam, the Galleon Group hedge fund founder convicted of insider trading in May, asked a federal judge to impose a sentence substantially below what U.S. guidelines recommend, saying a long prison term would be tantamount to a death sentence.

Demand Media Inc beat revenue expectations, pointing to a possible sign that search engine changes at Google Inc have not affected the company as much as feared.

Verizon Communications Inc sought court injunctions to prevent striking workers from blocking access to its buildings as tensions escalated in the third day of a strike involving almost half of the company's wireline employees.

Pregnant women can now know the sex of their baby as early as seven weeks into a pregnancy with a simple blood test. This new technology allows expectant mothers to know whether they are having a boy or girl months earlier than usual.

Oil pulled out of its dive on Tuesday in volatile trading as the Federal Reserve promised to extend near-zero interest rates for two more years, fueling a late Wall Street rally and dollar slump.

Comcast will offer $10 Internet for low-income families in the U.S. starting next month. The company, which provides Internet service in 39 states, said the low-cost connection will be available in September, coinciding with the start of the school year for most children in the U.S.

Comedian Katt Williams got kicked out of his own comedy show Saturday night, following his belligerent behavior toward the crowd, according to TMZ. According to recent reports, the comedian was trying "something different" that night, and the audience just wasn't into it.

Extreme market volatility has sparked comparisons to the 2008 global credit crisis, but Washington's ability to help out weak financial firms is dramatically different.

Facebook has begun closing the accounts of California prison inmates after a convicted child molester viewed the pages of his victim from behind bars, authorities and the social networking site said on Tuesday.

Yeast cells, when clumped together, can absorb food more efficiently than when they live singly, discovered at a lab study at Harvard University.The finding suggests new insights into the rise of multicellular life.

Hundreds gathered at a wooded area just outside Orlando on Tuesday for a memorial in remembrance of Caylee Anthony. Today would have been her 6th birthday. Many locals came wearing purple, Caylee's favorite color, as the event began at 6 p.m.

Apple Inc briefly edged past Exxon Mobil Corp to become the most valuable U.S. company on Tuesday, displacing an old economy stalwart and heralding an era where technology holds sway.

Walt Disney Co's quarterly results surpassed cautious Wall Street expectations, but the media and entertainment giant now has to grapple with an uncertain outlook for consumer spending.

The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years and said it would consider further steps to help growth, sparking a rebound in stocks.

A Pennsylvania man pleaded guilty on Tuesday to charges he encouraged attacks on U.S. targets through an Islamist militant website, the U.S. Attorney's office said.

Three initial public offerings were postponed on Tuesday, the latest casualties of volatile market conditions.

The U.S. Federal Reserve on Tuesday it will maintain monetary policy stimulus for at least another two years, but the lack of concrete action was met with selling in stocks and commodities.

The Federal Reserve on Tuesday took the unprecedented step of promising to keep interest rates near zero for at least two more years, adding it was considering further action, sparking a rebound in stocks.

Nokia has decided to part ways with Symbian in the U.S. A move that should shock very few.

Stocks rallied on Tuesday in a volatile session as investors struggled to decipher the Fed's signals on the economy after a dizzying two-week slide.

The struggling U.S. economy is beginning to take its toll on shipping companies which should be seeing a big boost from their peak season but instead find retailers delaying decisions about how much to import.

"We do have a serious problem in terms of debt and deficit, and much of it I inherited," Obama said. The financial crisis, he said, made the problem worse.

The Federal Reserve, in an unprecedented move, said on Tuesday it will keep interest rates near zero for at least two more years and is considering further action, bolstering battered stock markets.

A global social media campaign featuring a Bob Marley song was launched by some of the music industry's top stars on Tuesday to help stem the hunger crisis that is increasing in the Horn of Africa.