IBT Staff Reporter

The Cannes film Festival (le Festival de Cannes), is just next to us. It is one of the world's oldest and most prestigious film festivals.

The Treasury is expected to sell about 15 percent of its stake in American International Group in a share sale later this month, a source familiar with the situation told Reuters on Tuesday.

In what has become a familiar ritual over the past two weeks, jurors in the insider trading trial of hedge fund manager Raj Rajaratnam told the judge they needed more time to weigh the evidence.

The Washington Wizards on Tuesday unveiled their new team uniforms and corresponding logos, recalling imagery from the time the team was known as the Washington Bullets.

Lakers' Andrew Bynum who fouled J.J Barea hard with an elbow will be suspended without wage for the first 5 games of the next season.

Influential investment veteran Jim Rogers said on Tuesday he plans to short U.S. Treasuries, maybe as soon as later in the day, as he expects the end of the Federal Reserve's quantitative easing program to pressure government bonds.

The Got Talent franchise is a British TV format conceived and owned by Simon Cowell's SYCO company.

The U.S. got its most wanted criminal when U.S. Special Forces killed Osama bin Laden but the troops left behind a key piece of secret technology they tried to destroy in the frantic, tense minutes when they raided the al-Qaeda leader's northern Pakistan compound: a Stealth Helicopter.

American International Group Inc and the Treasury are considering whether to drop or scale back a large public offering of AIG shares, because of the recent decline in the bailed-out insurer's share price, Financial Times reported on Tuesday, citing people close to situation.

Early this morning, the Mississippi River crested at 47.79 feet in Memphis, Tennessee, 13.79 feet higher than flood stage and the second highest level on record.

Democratic U.S. Senators introduced a bill on Tuesday that would repeal tax breaks enjoyed by the five biggest oil companies, freeing up $21 billion over a decade to ease budget deficits.

Walt Disney Co reported a rare results miss after Mars Needs Moms capped a disappointing quarter at the U.S. box office, sending its shares down 3 percent.

Lawmakers considering new privacy laws scolded Google and Apple on Tuesday for not doing enough to guard mobile device users' location data, despite executives' assertions that they do not abuse the information.

Warner Music Group, which is being bought by billionaire Len Blavatnik's Access Industries, reported a narrower-than-expected quarterly loss, helped by a 9 percent jump in digital revenue.

Governments, or nowadays central banks, are traditionally the largest holders of gold. And for most of the past two decades, central banks have been net sellers of gold. But since 2010, central banks are net buyers again, because central banks of emerging market economies are aiming to diversify their ever growing currency reserves and reach a similar level in gold reserves as the club of old industrial economies.

Microsoft Corp plans to buy Internet phone service Skype for $8.5 billion in its biggest-ever acquisition, placing a rich bet on mobile and the Internet to try to best rivals such as Google Inc.

Led by Senator Al Franken, the Privacy and Technology Subcommittee of the Senate Judiciary grilled Google and Apple on privacy.

Nasdaq OMX Group Chief Executive Robert Greifeld, unbowed after NYSE Euronext twice rejected his takeover offer, is pressing forward with a hostile bid for the Big Board parent, promising to launch a tender offer within weeks.

The top U.S. securities regulator pledged a rigorous review of potentially outdated private securities trading rules, but stopped short of endorsing changes being advocated by Republican lawmakers.

Giant Chinese man can’t find fitting shoes, dreams of normal life.

General Motors Co said on Tuesday it will invest about $2 billion in 17 U.S. plants, including one here that makes transmissions for small cars, as the automaker shifts from recovery mode to investing in future products.

Stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand.

A Pakistani official said on Tuesday the government may let very interested Chinese officials see the remains of a secret U.S. stealth helicopter which was abandoned and mostly destroyed during a U.S. Special Forces raid of Osama bin Laden's compound last week.

JPMorgan Chase & Co urged a bankruptcy court on Tuesday to throw out Lehman Brothers Holdings' claim demanding that it hand over $8.6 billion in cash taken as collateral in the weeks before Lehman imploded in September 2008.

Architect Gary Chang in Hong Kong, where apartments are small and expensive due to lack of space, has turned his 330-square-foot apartment into 24 ‘rooms’ via a unique sliding wall system.

As the British National Gallery prepares to celebrate Leonardo Da Vinci and his art in November we look at the most famous Italian artists the world has ever known.

Sony still isn't sure exactly when the PlayStation Network will be restored, but says it is likely a couple of days away.

Stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand.

Sony Corp said it would take at least a few more days to restore service to its online PlayStation Network, which was breached by hackers in one of the largest Internet break-ins of all time.