IBT Staff Reporter

Portugal is close to reaching an agreement with the European Union and IMF on a bailout for the debt-laden country and there are no disagreements between the donors, the European Commission and the IMF said on Tuesday.

John Williams, the Federal Reserve's newest policymaker, is unlikely to call for a quick exit from Fed monetary stimulus despite his long association with sharp critics of super-easy policy, economists who know him said.

The Justice Department has decided to pursue an in-depth investigation of AT&T's plan to buy of T-Mobile USA, according to a source familiar with the deal.

Anadigics Inc forecast a challenging year ahead and cut 10 percent jobs as its largest customer Research In Motion shifted orders to the chipset maker's rivals, sending its shares down 10 percent to an eight-month low.

Portugal has reached a deal on a three year bailout loan with the European Union and IMF, caretaker Prime Minister Jose Socrates said on Tuesday.

Pfizer Inc posted disappointing revenue for Lipitor and other medicines, exposing the risks the world's biggest drugmaker faces if it sells better-performing units like its nutritional products business.

The company says the only reason it may have brought a product late to the market was because of quality.

Sony Corp. has reportedly hired three security firms to assist in the investigation of security breaches in the Sony Online Entertainment and PlayStation networks.

Pittsburgh Steelers halfback Rashard Mendenhall remained a target of sharp criticism by Twitter users on Tuesday after he posted a message questioning whether news that al Qaeda leader Osama bin Laden was killed should be cheered.

Oil prices dropped more than 2 percent on Tuesday as an interest rate increase by India added to concerns about demand and gains in the dollar helped spark a technical sell-off.

Japan's Nissan Motor Co Ltd won a 10-year contract to build the next generation of New York's iconic yellow taxis, Mayor Michael Bloomberg announced on Tuesday.

Oil prices dropped more than 2 percent on Tuesday as concerns about the impact of an interest rate increase on India's demand and gains in the dollar helped spark a technical sell off.

U.S. factory orders surged in March, posting a fifth straight monthly increase that showed a healthy manufacturing sector well placed to support economic recovery.

The government sued Deutsche Bank AG for more than $1 billion, accusing the German bank of fraud for repeatedly lying to obtain federal guarantees on mortgages it issued.

Sprint Nextel has asked West Virginia's state regulators to review AT&T Inc's proposed $39 billion purchase of T-Mobile USA and expects to file similar requests in other states.

Computers, thumb drives and paper records recovered from the compound where Osama bin Laden met his death are being hailed as the mother lode of intelligence.

Voxox, the software that unifies all communication channels, is coming to the iPhone.

The Securities and Exchange Commission pulled out all the stops when it tapped University of Texas law professor Henry Hu to head the first new division created at the agency in 37 years.

General Motors Co returned to the top spot in auto sales in April as high gasoline prices fed consumer hunger for more fuel-efficient cars.

Osama bin Laden’s hideout for the past five to six years has turned out to be a million-dollar compound inside Pakistan, in the military garrison town of Abbottabad, where the death of the al Quaeda leader took place in the early hours of Monday morning local time.

Walt Disney Co filed a copyright suit against satellite television operator Dish Network Corp for distributing popular movies including Disney's Toy Story 3 and Alice in Wonderland on a free tier for Dish subscribers.

Pippa Middleton’s Facebook fan page gets more than 180,000 hits

The S&P and Nasdaq declined on Tuesday as commodity-related shares fell, with investors seeing pullbacks by some sectors that have gained the most in recent months.

MasterCard Inc's first-quarter profit rose 24 percent, beating expectations, as people around the world spent more money and U.S. consumers even started using their credit and debit cards to buy more than the necessities.

A bill to create a new market for financing mortgages that would help wean the $10.6 trillion mortgage market off government support advanced in the House of Representatives on Tuesday.

Stocks fell on Tuesday, led by commodity-related shares, and investors saw further losses in these sectors, which have gained the most in the recent rally.

Apple Inc refreshed its lineup of iMac desktop computers with new Intel Corp processors that is says are up to 70 percent faster.

Vulture is reporting that CBS's NCIS will be the first prime-time TV show to work Osama bin Laden's death into an episode.

Wikileaks creator Julian Assange gives a rare interview and says Facebook, Google, Yahoo! have built-in interfaces for US intelligence.