IBT Staff Reporter

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Debt-limit hike fails in House in symbolic vote

The House of Representatives on Tuesday defeated a bill to raise the debt limit in a vote staged by Republicans to strengthen their push for deep spending cuts in negotiations with the White House.

Weak data point to sluggish economy

A double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy's soft patch could become protracted.

Sprint files to block AT&T purchase of T-Mobile USA

Sprint Nextel has formally asked U.S. regulators to block AT&T Inc's proposed $39 billion purchase of T-Mobile USA, saying the deal has no public interest benefit and would harm competition even if it comes with conditions.

All-Star Wonder: Posey, other Giants high on first MLB ballot

Injured catcher Buster Posey of the San Francisco Giants leads in the first ballot of the upcoming MLB All-Star game in Arizona on July 12. Posey, the reigning NL Rookie of the Year was having a superb year before being injured on a collision at home plate against the Florida Marlins last year.

Price hikes, fewer cars likely hurt auto sales

Higher car prices and a shortage of fuel-efficient vehicles likely threw a roadblock in the U.S. auto industry's recovery path in May, when the Japan crisis had its biggest impact on U.S. sales so far.

WHO says cell phone use possibly carcinogenic

Using a mobile phone might increase the risk of developing certain types of brain tumors and consumers should consider ways of reducing their exposure, World Health Organization cancer experts said on Tuesday.

U.S. wealthy exit Swiss bank accounts: study

Wealthy U.S. individuals have already pulled most of their money from Swiss private banks and could exit altogether as a global clampdown on tax evasion and banking secrecy benefits onshore rivals, a report showed.

Jobs to headline Apple launch, unveil iCloud

Apple Inc CEO Steve Jobs leaps back into the spotlight next week to showcase the iPad maker's latest software and is widely expected to unveil an online music storage and streaming service.

Greece hopes buoy Wall Street, but investors still wary

Wall Street bulls took the upper hand with a 1 percent rally on Tuesday as hopes for a new plan to deal with Greece's debt crisis relieved some investor worry, but grim economic data suggested more hurdles ahead as the S&P 500 closed out its worst month since August.

Mischief From Cheap Money - Shocking Charts

Three trillion dollars is a lot of cash to hoard up in barely 10 years. It's a lot of cash to unleash on the world's commodity markets, too. And peak oil or not, we monetary maniacs might just have a point. Real returns to cash do matter.

Mr. Harold Camping, You are Pathetic

Ex-followers of Harold Camping, the doomsday preacher who falsely predicted that May 21 would be the beginning of the end-of-the-world, are reacting with anger and voicing it on the air.

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