Lawmakers gird for showdown on credit raters
Lawmakers on Tuesday girded for a showdown over a measure that could upend the business model of credit rating agencies like Standard & Poor's and Moody's Corp., in the first real test of the congressional panel crafting a final Wall Street reform bill.
Best Buy results disappoint and shares fall
Best Buy reported lower-than-expected sales and profit, hurt by rising costs of expanding its business and weaker consumer demand, sending its shares down 6 percent.
Lawmakers blast oil firms' drilling plans
U.S. lawmakers blasted major oil companies on Tuesday for virtually worthless and cookie cutter plans to handle a deepwater oil disaster, with one top executive conceding the industry was ill prepared to handle big offshore spills.
Wall Street jumps as S&P 500 breaches key level
Stocks jumped on Tuesday as investors went on a buying binge. The S&P 500 turned positive for the year and rose above its 200-day moving average for the first time in a month, suggesting the recent downtrend may be nearing an end.
Airlines see Q2 revenue gains
Big U.S. airlines including Delta Air Lines Inc and American Airlines parent AMR Corp said on Tuesday that second-quarter unit revenue would rise, buoyed by recovering business and international traffic and by rising fares.
Defense firms face cyber spying at arms bazaar
Top arms groups are on high alert to counter cyber spies from stealing their own secrets at a major arms bazaar outside Paris, even as they market new ways to clients on how to repel hackers in the digital battlespace.
CBOE shares jump in debut after $339 million IPO
Shares of CBOE Holdings Inc jumped as much as 16 percent in their stock market debut Tuesday as investors saw bright prospects for the parent of the Chicago Board Options Exchange.
Corrected: U.S. airlines see Q2 revenue gains, lifting shares
(In fifth paragraph, corrects figure to 11 percent from 12 percent. The error first occurred in WRAPUP 2.)
Ninteno shows off 3D portable game device
Japan's Nintendo Co Ltd on Tuesday took the wraps off a new version of its DS handheld device that can play games and show movies in 3D without glasses, in an effort to revitalize demand.
Wall St rallies more than 2 percent
U.S. stocks extended gains on Tuesday as semiconductors rose after two large Taiwanese producers pointed to growing global demand and energy shares were lifted by bets the sector may have seen the worst of the selling.
Customers suffer delays ordering new iPhone
Customers attempting to reserve the next iPhone were thwarted by error messages on the websites of Apple Inc and AT&T Inc on Tuesday, the first day of pre-orders for the phone.
AT&T says voice quality near where it should be
AT&T Inc is getting close to bringing its mobile phone call quality to where it should be, Chief Executive Randall Stephenson said in a CNBC television interview on Tuesday.
U.S. airlines see Q2 revenue gains
Big U.S. airlines including Delta Air Lines and American Airlines parent AMR Corp said on Tuesday second-quarter unit revenue would rise, buoyed by recovering business and international traffic and rising fares.
Best Buy results miss forecasts
Best Buy reported lower-than-expected sales and profit, hurt by rising costs to expand its business and signs of weaker consumer demand, sending its shares down 6 percent.
Best Buy results miss; analysts worry about rivals
Best Buy reported lower-than-expected sales and profit, hurt by rising costs to expand its business and signs of weaker consumer demand, sending its shares down 6 percent.
Credit raters could get reprieve in Wall Street bill
Credit rating agencies like Moody's Corp and Standard & Poor's hoped to win a reprieve on Tuesday from a proposal that would upend their business model as U.S. lawmakers sat down to craft a final rewrite of financial regulations
S&P trades above 200-day moving average
The S&P 500 index sent a bullish technical signal on Tuesday as it hit 1,111.11 and traded above its 200-day simple moving average for the first time since May 20.
EU wants details of 2011 Spain, Portugal fiscal plans
Spain's and Portugal's fiscal tightening plans this year and next are appropriately ambitious but both countries should spell out in more detail austerity steps planned for 2011, the European Commission said on Tuesday.
Euro rises on solid Spanish auction
The euro hit a two-week high above $1.23 on Tuesday as solid demand at European debt auctions eased worries about the region's fiscal crisis and prompted investors to cover short positions in the currency
Nasdaq climbs on semiconductor strength
Stocks extended gains on Tuesday with the Nasdaq rising 2 percent on strength in semiconductor stocks.
NY manufacturing grows, import prices fall
Manufacturing in New York state grew in June even as employment declined, supporting the view the factory sector is recovering, while import prices recorded their largest decline in nearly a year in May.
Wall Street rises in relief over European debt auctions
Stocks advanced on Tuesday as multinationals climbed in sync with the euro after a number of successful European debt auctions eased investor concerns about the continent's solvency crisis.
Credit card defaults fall again in May
Credit card delinquencies fell again at major lenders in May as more consumers managed to pay their bills despite a sluggish economic recovery.
Oil tests above $76 as euro and equities rise
U.S. crude oil futures climbed on Tuesday after the euro and equities markets rose when debt auctions in Europe bolstered investor confidence in global economic recovery.
News Corp seeks to reel in BSkyB, rebuffed for now
Rupert Murdoch's News Corp is proposing to pay $12 billion to take full control of British satellite broadcaster BSkyB as it seeks to generate steadier earnings and make better use of its cash pile.
BBBBzzzz! Noisy iVuvuzela latest app
Perhaps it was only a matter of time until the vuvuzela became a runaway hit on the iPhone.
Credit raters could catch a break in Wall Street bill
Embattled credit-rating agencies like Moody's Corp and Standard & Poor's could catch a break on Tuesday when U.S. lawmakers sit down to craft a final rewrite of financial regulations.
Lawmakers blast oil companies in hearing
U.S. lawmakers blasted major oil companies on Tuesday for virtually worthless and cookie cutter plans to handle a deepwater oil disaster as top industry executives testified on BP's massive spill in the Gulf of Mexico.
Euro rises broadly on solid auctions, risk appetite
The euro rallied to a two-week high against the dollar on Tuesday as solid demand at European debt auctions soothed worries about the debt crisis and prompted investors to cover short positions in the single currency on increased risk appetite.
June homebuilder sentiment falls post-tax credit
Home-builder sentiment fell in June by the sharpest amount since the height of the financial crisis as the expiration of a popular homebuyer tax credit dimmed prospective sales, the National Association of Home Builders said on Tuesday.
