IBT Staff Reporter

U.S. Treasury Secretary Timothy Geithner, going on the offensive one day after Standard & Poor's threatened to lower its top-tier rating on U.S. government debt, said on Tuesday there was no risk of a downgrade.

Warren Buffett and the rest of Berkshire Hathaway Inc's board of directors were sued by a shareholder on Tuesday over presumed heir apparent David Sokol's trading in the stock of a company that was later bought by Berkshire.

Treasury Secretary Timothy Geithner on Tuesday said bipartisan framework that sets targets for deficit reduction over the long-term could could be agreed to in the next few months, but exactly how to go about that would not happen soon.

Lenders would be required to make sure prospective borrowers have the ability to repay their mortgages before giving them a loan, under a proposal released by the Federal Reserve on Tuesday.

Johnson & Johnson reported stronger-than-expected quarterly earnings, fueled by higher prescription drug sales and stabilizing performance of its consumer products business that has been plagued by recalls.

Research In Motion's PlayBook tablet computer launched in almost empty stores on Tuesday, unable to whip up the frenzy that accompanies the debut of anything from rival Apple.

The EU's telecoms chief threatened on Tuesday to impose tougher rules to ensure Internet providers do not discriminate against some content companies such as internet voice call providers like Skype.

Warner Bros. finally officially announced the roles Joseph Gordon-Levitt and Marion Cotillard will have in Christopher Nolan's third Batman film, The Dark Knight Rises.

Apple will soon carry Square's innovative credit card reader at its 235 stores.

The twins Cameron and Tyler Winklevoss, along with their business partner Divya Narendra, are appealing a recent court ruling that says they have to abide by a previous settlement reached with Facebook.

Clarence House, where Prince William and Kate will live soon after their royal wedding on April 29, is reportedly valued at $76.68 million, according to new stats by British real estate website Zoopla.

Minnesota is looking for people to test technology that could one day be used to collect fees based on driving mileage.

Google Maps opens up to self-editors; who can add their own destinations, points of interest, etc.

Goldman Sachs Group Inc posted a 72 percent decline in quarterly earnings as trading revenue dropped, and the bank cautioned that its businesses face headwinds.

U.S. stocks rose on Tuesday after encouraging earnings from healthcare and materials companies and unexpected strength in housing, but weakness in technology and banks tempered gains.

U.S. crude oil rose Tuesday while Brent seesawed as a down dollar and firmer equities provided some lift to a market that had slumped on worries over sovereign debt and oil demand.

President Barack Obama leads Donald Trump by 15 percentage points in a hypothetical 2012 matchup, according to a new poll by Rasmussen Reports.

President Barack Obama is teaming up with Facebook to talk about the nation’s economy and plans to deal with financial challenges.

Brent crude oil futures fell below $120 on Tuesday for the first time in two weeks, pressured by concern over the economic outlook and the risk that high prices could erode demand.

Clearwire Corp and its majority owner Sprint Nextel Corp reached a new wholesale pricing deal that has Sprint paying at least $1 billion to Clearwire between this year and the end of next year.

General Electric Co imposed new conditions on a large options award the board granted to Chief Executive Jeff Immelt after shareholders expressed concerns that the terms needed to be more stringent.

Warren Buffett, former top lieutenant David Sokol, and the rest of Berkshire Hathaway Inc's board of directors were sued on Tuesday by a shareholder over a trading scandal that cost Sokol his job.

The Obama administration fired a fresh salvo at Wall Street on Tuesday, telling critics of the U.S. financial reform law to knock off their attacks.

Nasdaq OMX Group and Intercontinental Exchange Inc promised to pay a $350 million fee to NYSE Euronext if regulators knock down their takeover offer, in a bid to get NYSE to start deal talks.

Clearwire Corp and its majority owner Sprint Nextel reached a new wholesale pricing agreement that involves Sprint paying a minimum of $1 billion to Clearwire this year and next year.

Research In Motion's PlayBook went on sale in the United States and Canada on Tuesday in a launch the company hopes will win customers away from Apple's dominant iPad tablet computer.

U.S.-based Seagate Technology's $1.4 billion acquisition of Samsung Electronics Co's loss-making hard disk drive business pits it head-to-head with Western Digital Corp in an industry that has been dogged by price wars.

A telecom equipment company in Spain has published instructions and sells kits for a DIY radiation detector.

Goldman Sachs Group Inc posted a 72 percent drop in first-quarter profit to shareholders as it made less money from trading bonds for clients. The largest U.S. investment bank posted a profit to common shareholders of $908 million, or $1.56 per share, compared with $3.3 billion, or $5.59 per share, in the same quarter a year ago.