IBT Staff Reporter

The United States needs to have a climate change law in place before international talks on a climate pact begin in December, two top Obama administration officials said on Monday.

Stock index futures were slightly higher on Tuesday on news that Ben Bernanke will be renominated as chairman of the Federal Reserve and ahead of key consumer confidence and housing data.

Top office products retailer Staples Inc on Tuesday reported a 38 percent drop in quarterly profit as costs increased.

The U.S. Department of Energy said on Monday it has awarded $27.6 million of funding to evaluate the potential risks of storing carbon dioxide underground, which is seen as a way to control global warming.

Russia's largest lender, state-run Sberbank, will lend power major RusHydro 20 billion rubles ($626.2 million) to help it repair a power station crippled in an accident last week.

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Money-market mutual funds undermine the strength of the U.S. financial system and should be regulated more like banks, Bloomberg reported former Federal Reserve Chairman Paul Volcker as saying in an interview.

France's proposed carbon tax is expected to be included in the 2010 budget but will probably be set below the 32 euros per metric ton level recommended by a special advisory panel, Budget Minister Eric Woerth said on Tuesday.

The yen rose broadly on Tuesday, advancing in particular against the euro and sterling as a retreat in European shares from a 10-month high the previous day undermined demand for currencies considered to be high-risk.

Repeat offenders who persist in illegally downloading music from file-sharing sites such as Limewire could be blocked from accessing the Web under British government proposals issued on Tuesday.

General Motors may make clear within the next 24 hours whether it wants to keep its European carmaker Opel rather than sell it, a German labor representative said on Tuesday.

General Motors may make clear, within the next 24 hours, whether it wants to keep its European carmaker Opel rather than sell it, a German labor representative said on Tuesday.

Taiwan's Asustek is pinning its recovery hopes on emerging markets such as China as the pioneer of netbooks struggles to compete with bigger rivals such as Hewlett-Packard and Acer.

Oil fell below $74 a barrel on Tuesday in a drop on broader global stock markets from 10 month highs hit in the previous session .

U.S. stock index futures pointed to a mixed start for Wall Street on Tuesday after U.S. shares ended flat in the previous session as investors took a breather from a four-day rally.

Oil fell below $74 a barrel on Tuesday, down for the first time in six days as Chinese shares plummeted on renewed concerns over the economic recovery, after reaching a 10-month high a day earlier.

Asian shares slipped along with commodities on Tuesday in a reversal of the previous day's solid gains, with many investors sticking to the sidelines and awaiting more clues on whether the economic recovery is picking up steam.

U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve Tuesday, keeping him on the job of guiding the world's largest economy out of its deepest downturn since the Great Depression.

A federal appeals court in New Orleans said on Monday that accused swindler Allen Stanford must stay in jail until his fraud trial.

Oil fell below $74 a barrel on Tuesday, down for the first time in six days on softer Asian shares as renewed concerns over the economic recovery emerged, after reaching a 10-month high a day earlier.

Michael Jackson was killed by a lethal dose of the powerful anesthetic propofol, according to findings unsealed in court documents by the Los Angeles chief medical examiner.

Americans swamped auto dealerships on Monday during the final hours of the government's popular cash-for-clunkers program, which offered rebates of up to $4,500 to trade in older gas guzzlers.

A gunman carrying an assault rifle fired an incredible 800 rounds on Sunday evening in a suburb of Tehran, killing seven people including his wife and two young children, according to PressTv reports.

A police Investigation into last month's Jakarta hotel bombings shows that terrorist groups had made plans to use snipers to attack US president Barack Obama during his visit to Indonesia in November.

A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.

U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve on Tuesday as the economy shows signs of recovery, a senior administration official said on Monday.

Teen pop star Nick Jonas, taking a break from touring with his brothers to raise awareness of juvenile diabetes, said he dreams about being U.S. president and may study political science in college.

U.S. President Barack Obama will reappoint Ben Bernanke for a second term as chairman of the Federal Reserve on Tuesday, a senior administration official said on Monday.

Federal Reserve Chairman Ben Bernanke will be nominated to a second term by President Barack Obama on Tuesday, according to reports.