IBT Staff Reporter

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.

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.

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.

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.

Investors could be forced to sell billions of euros of Greek government bonds after Barclays Capital and Citigroup strip GGBs from indices following Moody's downgrade of the sovereign credit to junk status.

European policymakers sought to squash talk of a euro zone rescue for Spain on Tuesday as the country saw its borrowing costs rise in a debt auction ahead of an EU summit to discuss steps to fix the currency bloc.

Small banks believe they have no choice but to support Visa Inc and MasterCard Inc in a battle against lawmakers over fees for processing debit card transactions.

The sound of vuvuzela trumpets in World Cup broadcasts may be silenced by the BBC following hundreds of complaints but the incessant drone has become a runaway hit with iPhone users.

Manufacturing in New York state grew in June even as employment declined, while U.S. import prices recorded their largest decline in nearly a year in May, reports on Tuesday showed.

Stocks rose on Tuesday as the euro strengthened after successful European debt auctions and U.S. data showed inflation remained under control.

Executives from other major oil companies turned on BP Plc and defended their own drilling practices during a U.S. congressional hearing on Tuesday as they sought to stave off new government regulations in the wake of BP's oil spill in the Gulf of Mexico.

OnLive announced on Tuesday initial lineup of games and a new pricing plan ahead of its launch on Thursday, as the cloud-gaming service prepares its much anticipated rollout.

Spain's and Portugal's fiscal tightening plans this year and next are appropriately ambitious, the European Commission said, as it approved progress in fiscal consolidation also in 10 other European Union countries.

Import prices recorded their largest decline in nearly a year in May as petroleum costs plummeted, according to a government report on Tuesday that bolstered views of tame inflation and low interest rates.

Oil rose toward $76 on Tuesday, drawing support from forecasts of reduced crude stockpiles in the United States, but wary after a Greek sovereign debt downgrade that underlined the extent of the euro-zone crisis.

Foreign investors reduced purchases of long-term U.S. securities in April but remained net buyers, while China raised its U.S. Treasury holdings for a second straight month, the Treasury Department said Tuesday.

Investors have become less bullish about the global economy but have not given up on riskier assets, finding equities as cheap as they have been since March 2009, a Bank of America Merrill Lynch poll showed on Tuesday.

World Gold Council (WGC) and Dubai Multi Commodities Centre (DMCC) jointly launched Tuesday, yet another category of gold coins of the famous 'Visions of Dubai' series

As I've mentioned a few times, geothermal looks to be approaching a rolling boil. A few more positive indicators on the sector presented themselves over the past week. First came news last week that the state of Alaska will reduce royalty rates for geothermal projects on state lands. Previously, state geothermal royalties had been set at a towering 10 to 15% of gross revenues. Under the new legislation, this will fall to 1.75% during the first ten years of income-generating production. After ten...

Financial markets have overreacted to the euro area's sovereign debt problems, though they are likely to keep testing the region's commitment to the single currency, credit rating agency Fitch s

The euro turned higher on Tuesday as solid demand at debt auctions eased concerns about euro zone debt problems after Monday's downgrade of Greece to junk status by Moody's ratings agenc

Stocks were set to rise at the open on Tuesday as data showed inflation continues to be under control and strong demand at European debt auctions eased concerns about euro zone fiscal problems.

Nestle is suing U.S. food group Sara Lee in France for patent infringement of its Nespresso coffee system, the Swiss company said on Tuesday, aiming to protect its top-selling product.

Moody's decision to downgrade Greek debt was ill-advised and ill-timed, European Economic and Monetary Affairs Commissioner Olli Rehn said on Tuesday, adding that it cast fresh doubt on ratings agencies.

Indian equity markets are showing signs of higher volatility and hinting at consolidation from its current levels primarily on the back of overseas economic concerns, the gold prices are once again believed to scale up to make newer highs in near future.

Best Buy Co's quarterly profit and sales missed Wall Street estimates, hurt by a sharp decline in prices for television sets, sending its shares down over 6 percent.

The World Gold Council (WGC) has welcomed a new paper from researchers at MIT that demonstrates how rechargeable lithium-air batteries can be significantly more efficient by using a catalyst that consists of nanoparticles of a gold and platinum alloy. This could be a significant step toward making these high-energy-density batteries practical for use in new electric vehicles.

Rupert Murdoch's News Corp is proposing to pay $12 billion to take control of British satellite broadcaster BSkyB as it seeks to generate steadier earnings and make better use of its cash pile.

Stock index futures rose on Tuesday along with the euro as strong demand at debt auctions eased concerns about euro zone fiscal problems.