IBT Staff Reporter

Long Island Rail Road has been facing service disruptions, due to an Amtrak train derailment on May 8. The impact will continue at least until Wednesday, May 11.

Carla Bruni-Sarkozy, who appears in Woody Allen's, Midnight in Paris, has stated that though she really regrets it, she will not be attending the Cannes film festival for personal and professional reasons.

Tokyo Electric Power Co Inc <9501.T> will likely report a net loss of more than 1 trillion yen ($12.46 billion) for the last fiscal, hurt by charges resulting from the accident at its Fukushima Daiichi nuclear power plant in March, business daily Nikkei reported.

OK! Magazine is reporting that naked photos of Kate Middleton's sister have surfaced and are being shopped around. The United Kingdom's Telegraph newspaper is reporting that the Middleton family is furious at what they see as a betrayal, according to a friend of the family.

China has agreed to steps to open its government procurement market to more U.S. companies and let U.S. banks sell mutual funds in the country, a senior U.S. Treasury official said on Tuesday.

Dallas Wiens, 26, of Texas, who had previously come to terms with a vastly deformative injury which virtually erased his face, expressed gratitude to the family of his new face's donor and doctors remarked on his transformation as he made his first public appearance after becoming the first recipient of a full facial transplant in the United States.

A new emergency system that sends alerts to cellphones will be launched in New York City and Washington D.C. by major mobile device companies.

China on Tuesday pledged to make it easier for U.S. companies to win Chinese government contracts, addressing a long-standing complaint of foreign corporations seeking a piece of the fast-growing market.

Google unveils its latest creation - Music Beta, a digital locker for music.

The cost of imported products in the United States rose for a seventh straight month in April thanks to a weaker dollar, and more owners of small businesses raised prices, in potentially worrying signs of inflation.

If you have a couple million dollars to spare and a taste for steak, Warren Buffett is looking for lunch companions.

U.S. import prices rose at a slower pace in April as petroleum and food cost increases moderated, while a jump in wholesale inventories during March suggested a weak first quarter ended on a firmer note.

Google launched an online music locker service on Tuesday that allows users to store and access their songs wherever they are, similar to one launched by Amazon.com in March.

MTV.com is reporting that pop star Lady Gaga plans to release another single form Born This Way. The new track, Hair comes just a week after Edge of Glory was released.

Microsoft snubbed investment banks for its largest deal ever, saving an estimated $25 million to $30 million by not using an adviser on the $8.5 billion takeover of Internet phone service Skype.

A faceless Osama covers the May issue of The New Yorker.

Euro zone finance ministers are likely to back a bailout for Portugal on Monday and tell Greece it must deliver on agreed fiscal and privatization targets if it wants new emergency financing next year.

Wall Street extended its rally for a third day on Tuesday as investors turned more conservative after last week's decline and embraced defensive shares.

Greece denied a report on Tuesday it was discussing a new 60 billion euros bailout with international lenders and its borrowing costs rose amid fears it may have to restructure its debt without further EU help.

Oil rose on Tuesday, supported by concerns U.S. flooding could hit Gulf Coast refinery operations and data showing strong Chinese crude imports for April.

Euro zone finance ministers are likely to back a bailout for Portugal on Monday and tell Greece it must deliver on agreed fiscal and privatization targets if it wants new emergency financing next year.

U.S. wholesale inventories climbed in March as businesses saw a sharp increase in sales, suggesting parts of the economy are growing firmly, according to Commerce Department data released on Tuesday.

Job scarcity in some communities and a backlog of foreclosed properties continue to inhibit the U.S. economy's recovery, a top Fed official said on Tuesday.

The Duke and Duchess of Cambridge, Prince William and Kate Middleton, were off to their two-week honeymoon on a private jet yesterday.

Google Inc is set to launch an online music locker service to allow users to store and access their songs wherever they are, similar to one launched by Amazon.com Inc in March.

Microsoft vows to support Skype on non-Windows platforms.

Parsons The New School for Design presented 43 collections to a full house yesterday afternoon as part of the Parsons Festival event.

German Chancellor Angela Merkel, Europe's reluctant paymaster, said on Tuesday she could only discuss further aid for Greece after EU and IMF officials report on implementation of its existing rescue plan.

Microsoft Corp plans to buy Internet phone service Skype for $8.5 billion, a rich price as it seeks to regain ground on growing rivals such as Google Inc.