IBT Staff Reporter

Stocks rose more than 1 percent on Tuesday on renewed hopes for a global economic recovery after the Australian central bank raised interest rates and in anticipation of the start of an improved U.S. earnings season.

Tropical storm Parma stalled for two days off northwestern Philippines, was slowly heading toward the country's tobacco-producing region on Tuesday, after killing at least 22 people.

Citigroup initiated coverage of jeweler Tiffany & Co with a buy rating and a $50 price target, citing an expected return to sustained positive same-store sales in the fourth quarter.

North Korea on Tuesday signaled it could return to nuclear disarmament talks it had declared dead six months ago, but a report it was near restoring its atomic plant underlined the secretive state would keep the stakes high.

Toyota Motor Corp is considering working with affiliate Fuji Heavy Industries Ltd to develop its electric vehicles, slated for a global launch in 2012, the Mainichi newspaper said on Tuesday.

NATO forces said Tuesday they had killed more that 100 fighters in a huge weekend battle in eastern Afghanistan in which eight Americans died, the deadliest firefight for U.S. troops in more than a year.

The Merritt Parkway in Connecticut joins a monastery in Bhutan, a church in Chile and a British dockyard among 93 irreplaceable sites at risk from vandalism, neglect, conflict or disaster, the World Monuments Fund said on Tuesday.

It's an amazing story that perhaps you have heard. I read it again recently in a story by Rick Reilly for Sports Illustrated. The Father-son duo of Rick and Dick Hoyt are an amazing team. Together they have competed in marathons and triathlons. They have competed together and finished hundreds of races together. Each time they cross the finish line they do so at the same time- every time.

Defense Secretary Robert Gates blamed the Taliban's revival on a past failure to deploy enough troops to Afghanistan and said U.S. forces would not withdraw whatever the result of President Barack Obama's strategy review.

British comedian Matt Lucas has pulled out of a West End play after his ex-partner killed himself, reportedly hours after posting a message on Facebook saying Kevin McGee thinks that death is much better than life.

The Swedish government said on Tuesday it had asked the European Commission to assess whether proposed loan guarantees to Saab Automobile would break rules on state support.

Boeing Woes Continue; Gold's Record High; Stock, Not Cash Pay

British author Hilary Mantel is favorite to scoop the Man Booker Prize later on Tuesday, while South African-born J.M. Coetzee is in the running to become the first writer to win the coveted award three times.

St Jude Medical Inc warned on Tuesday that quarterly profit would miss its previous forecasts as hospitals bought fewer of its medical devices, sending its shares down nearly 14 percent.

Boeing Co , its reputation tarnished by the troubled 787 Dreamliner program, said on Tuesday that it would delay the first flight and delivery of its 747-8 Freighter, news that further eroded the credibility of the world's No. 2 plane maker.

UBS AG said on Tuesday it had hired 18 investment bankers in the United States to focus on lending in the energy sector.

Stocks rose at the open on Tuesday on renewed hopes for a global economic recovery after Australia raised interest rates and in anticipation of an improved earnings season.

The booming Chinese auto market continues to be one of the few bright spots for German luxury carmakers, which have drawn few benefits from a flurry of subsidy programmes like the U.S. cash for clunkers scheme.

Czech car sales fell almost 14 percent year-on-year in the first nine months of the year, from a 12 percent fall in the first half, the country's Car Importers Association said on Tuesday.

First Solar Inc is on the verge of being included in the flagship S&P 500 index, a sign that alternative energy companies are now a mainstream investment.

Stocks were set to open higher on Tuesday on renewed hopes for a global economic recovery after Australia raised interest rates and in anticipation of the start of an improved earnings season.

Boeing Co said it would take a charge of $1 billion in the third quarter because of higher production costs and tough market conditions for its 747-8 program.

Comedian David Letterman said on Monday his wife has been horribly hurt by revelations of his sexual affairs exposed in an extortion plot against him and he apologized to staff of his popular late-night talk show.

American Idol is bringing back its Idol Gives Back charitable special on April 21 after a yearlong hiatus.

Consumer-goods maker Chattem Inc posted a better-than-expected quarterly profit, helped by cost cuts and growth in its domestic business, and reaffirmed its full-year adjusted earnings forecast.

Boeing Co said it would take a charge of $1 billion in the third quarter because of higher production costs and tough market conditions for its 747-8 program.

MTV is going forward with the late DJ AM's Intervention-style reality series Gone Too Far, which will premiere next Monday.

U.S. rapper Jim Jones pleaded guilty on Monday to misdemeanor assault charges related to a fight in Manhattan's Louis Vuitton store last December.

Pepsi Bottling Group Inc reported a slightly higher-than-expected quarterly profit on Tuesday, as price increases and easing commodity costs helped offset falling sales volume.