IBT Staff Reporter

Concerns that rising oil prices could hurt economic recovery prompted investors on Tuesday to sell stocks and hedge against further declines.

Federal Reserve Chairman Ben Bernanke said on Tuesday the surge in oil prices is unlikely to hurt the U.S. economy unless it is sustained, even as investors sold off equities on fears of a slowdown.

John Williams, the San Francisco Federal Reserve Bank's head researcher whose work suggests the Fed's bond-buying has helped restore millions of jobs, will succeed Janet Yellen to lead the regional Fed bank.

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony to the Senate Banking Committee on Tuesday on the central bank's semi-annual report on U.S. monetary policy.

James Franco and Anne Hathaway were chosen as the hosts for the 83rd Annual Academy Awards with the hope of appealing to a younger demographic. Even so, the pair failed to pull big ratings during the awards ceremony.

The crew of the Discovery space shuttle has installed the Permanent Multipurpose Module onto the underside of the International Space Station.

Manufacturing grew in February at its fastest rate in nearly seven years as companies' willingness to hire improved at the strongest pace in decades.

Concerns that rising oil prices could hurt economic recovery prompted investors on Tuesday to sell stocks and hedge against further declines.

Have you ever imagine living in a house with a slide when you were kids? Your kids will love this house. 'LEVEL Architects' based in Yokohama have created this amazing concept house in Tokyo.

February sales numbers that top U.S. chains report this week will be the first sign of shoppers' ability and willingness to pay more for clothing and household items now that gas prices are rising.

Verizon Wireless will replace its unlimited mobile data service with usage-based pricing for iPhone customers around the middle of the summer, according to the finance chief of parent Verizon Communications.

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony to the Senate Banking Committee on Tuesday on the central bank's semi-annual report on U.S. monetary policy.

A Verizon Communications executive hinted at a new version of the iPhone and said Verizon Wireless will replace its unlimited mobile data plans with usage-based pricing around the middle of summer.

OPEC output fell in February from a two-year high the previous month as the uprising in Libya curbed supplies from Africa's third-largest producer, even as Saudi Arabia pumped more, a Reuters survey showed on Tuesday.

After fumbling the National Anthem at the Super Bowl and tripping on the Grammy stage, TMZ is reporting that the pop star was arrested at 2:45 a.m. for public intoxication near the Sunset Strip.

AT&T Inc and other corporations do not have personal privacy rights to prevent disclosure of federal government records about them, the Supreme Court ruled on Tuesday.

The launch of the second version of the iPad should help Apple Inc's shares, but don't expect a repeat of the surge that came after the first version was released last year.

The U.S. manufacturing sector grew at its fastest rate since May 2004 in February, while prices paid also rose, the Institute for Supply Management said on Tuesday.

Howard Stern is the latest to host troubled actor Charlie Sheen and ask all the burning questions. In a 45-minute long segment, Stern asked the Two and a Half Men star questions regarding his porn collection, his goddesses and the gun he accidentally fired into his ex-fiancée's leg.

by Timothy SifertThe Treasury's $2.7 billion secondary offering of Ally Financial's trust preferred securities unveiled Tuesday is expected to be a blowout, as investors rush to get in on one of the last opportunities to buy a sizeable bank TruPS deal.

The U.S. manufacturing sector grew at its fastest rate since May 2004 in February, while prices paid also rose, the Institute for Supply Management said on Tuesday.

Gold jumped against a falling Dollar in London trade on Tuesday, touching $1,432.10 per ounce, one dollar above the all-time peak of 7th Dec. Silver marks a fresh all-time high at $34.44/oz, while Western stock markets fell and Brent crude oil rose towards new two-year highs.

U.S. auto sales rose more than 20 percent in February as the lure of discounts from automakers led by General Motors Co outweighed concerns about higher oil prices.

As Europe's car market weans itself off the rush of government subsidies, carmakers at the Geneva auto show are finding cause for optimism on a continent overshadowed by heady growth in emerging Asia.

Goldman Sachs Group Inc could lose up to $3.4 billion from lawsuits and other disputes over the securities it sold and underwrote, the investment bank said in its annual filing with regulators on Tuesday.

OK! Magazine reported that instead of gifts, the Canadian sensation asked his fans to donate to a charity on his behalf.

As the United States moves military ships toward the Mediterranean Sea and officials discuss the possibility of imposing a no-fly zone over Libya, Venezuelan President Hugo Chavez said it was irresponsible to consider all options to resolve the situation there, including an invasion.

Federal Reserve Chairman Ben Bernanke offered a fairly upbeat assessment of the U.S. economy on Tuesday, saying the recent surge in oil prices is unlikely to have a major effect on either growth or inflation, as long as higher prices do not become sustained.

It's been a dismal stretch for critics of Netflix Inc , the movie delivery company that boasts a superstar chief executive, a stratospheric stock price and some 20 million subscribers.