IBT Staff Reporter

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself and his family as new regulations threaten to crimp the hedge fund industry he made famous.

Amazon.com Inc reported a surge in quarterly revenue while profit slipped as the largest Internet retailer benefited from growth in e-commerce but kept spending heavily on distribution, technology and digital content.

The stalemate in debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings.

WHAT: First reading on U.S. second-quarter GDP

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.

The United States has no wiggle room on the debt after next week's default deadline, White House spokesman Jay Carney said on Tuesday, adding he expected a deal to be reached through compromise before then.

The U.S. will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.

General Electric Co has canceled plans to sell its railcar leasing business that could have fetched about $3 billion for the largest U.S. conglomerate, people familiar with the matter said on Tuesday.

Electronic Arts Inc, the video game maker behind FIFA and Madden, reported a 3 percent decline in first-quarter adjusted revenue as customers bought fewer video games than a year earlier.

In an ongoing rivalry between Apple's iPhone and Android, Google can uphold bragging rights as becoming the first smartphone to have assisted NASA astronauts on a space flight mission. Having its Nexus One powered Android OS programmed to spherical robots; the devices were launched into space aboard the space shuttle Atlantis. Once deployed, it assisted astronauts in surveying routine maintenance work.

A new report says mobile bandwidth has increasingly been used by video streaming providers like YouTube.

Shares of top video rental company Netflix Inc fell more than 9 percent on Tuesday, a day after the Wall Street darling shocked investors by projecting a pause in its normally explosive subscriber growth.

Disappointed investors dumped shares of several large U.S. industrial and transport companies after they warned of weak consumer markets, especially in the United States.

Apple has reportedly added four Taiwan manufacturers of integrated circuit boards to its iPad 3 supply chain, in order to keep costs low.

Former Destiny's Child member and "Motivation" singer, Kelly Rowland dropped her latest album July 26. Although typically referenced as a soulful artist, "Here I Am" is said to be a mix of R&B and dance tracks."The personalities aren't really different," she said in an interview with MTV News. "I think what I've grown to know about my voice is, just having a voice, period, as a woman, you mean business, period - whether that's making people dance or that's mak...

"Goodnight my angel," said Mitchell Winehouse, Amy's father, in his eulogy to his beloved daughter. "Sleep tight. Mummy and Daddy love you ever so much." With an emotional funeral, Amy Winehouse's family and friends laid her to rest today. Winehouse will be cremated following the service.

Britney Spears released a new video on YouTube announcing that her Femme Fatale tour would be going to South America. She began the video apologizing because her Circus Tour did not make it to the South. Now, about 12 dates will be added to the tour to visit cities including Rio de Janeiro and Sao Paulo in the fall.

On Sunday night's episode of ?Keeping Up With the Kardashians,? bride-to-be Kim learned the cause behind those itchy, red patches she's suffered from lately.

Four classic comedies make their Blu-ray debut in the next two weeks, reminding moviegoers that raunchy comedy was alive and well long before "The Hangover" franchise, and films like "Bridesmaids."

Antibiotics are better than cranberry capsules at preventing urinary tract infections (UTI's), concluded a new study in the Archives of Internal Medicine on Monday.

T-Mobile is out and Verizon is in as RadioShack tries to turn around its mobile business.

RadioShack Corp disconnected an unprofitable wireless partnership with T-Mobile and replaced it with much bigger Verizon Wireless, sending shares of the U.S. consumer electronics chain up 19 percent.

Motorola Solutions Inc lost a bid to dismiss a class-action lawsuit accusing it of misleading shareholders about deteriorating prospects for its cellphone business, resulting in investment losses.

General Electric Co has ended the auction of its roughly $3 billion railcar leasing business, making it the second time in three years the conglomerate has tried unsuccessfully to do so, sources familiar with the matter said on Tuesday.

Stocks were near flat on Tuesday as ongoing concern about a stalemate in the U.S. debt talks offset healthy earnings from corporations.

Amy Winehouse's funeral was today, but U2 dedicated "Stuck In A Moment" to the late Winehouse on Saturday night in Minneapolis.

Concern over Fiat SpA's ballooning debt dragged its stock lower on Tuesday as the Italian carmaker moved a step closer toward a full merger with Chrysler Group LLC by outlining plans for a single management team.

Facebook has made it easier for users to opt out of its controversial facial-recognition technology for photographs, an effort to address concerns that it had violated consumers' privacy.

It is apparent that the tablet market has exploded with devices offering a variety of options from screen display resolution, size, weight, touch sensor, connectivity features, processor speeds, materials, and drivers. Apple recognizes the competition coming from Android's mass producing line of tablets and has taken steps in lowering its pricing structure. Apple has been reported to be utilizing circuit suppliers in Taiwan in an attempt to lower costs for building an iPad 3 unit, possibly ...