IBT Staff Reporter

Ground-breaking on new U.S. family homes rose for a fifth month in a row and producer prices tumbled, keeping hopes for economic recovery alive.

Oil rose more that 3 percent to top $69 a barrel on Tuesday as stronger-than-expected earnings results lifted equities and boosted optimism about the economy.

General Motors Co said on Tuesday it is increasing production in North America for the second half of 2009 after a surge in sales ignited by the U.S. government's Cash for Clunkers incentives program.

Hurricane Bill headed west-northwest over the open Atlantic Tuesday on a path toward Bermuda that would likely keep it clear of the U.S. East Coast but could spell trouble for Canada's Maritime Provinces.

iTunes-purchased songs now account for 25 percent of the overall music market--both physical and digital--in the U.S., according to an NPD Group report released Tuesday.

Best of track

Hewlett-Packard Co is considering selling or shutting parts of its outsourcing business to focus on the higher-margin areas of its technology services offering, people familiar with the matter said.

Henry Kravis, co-founder of private equity firm Kohlberg Kravis Roberts & Co , said on Tuesday the market for initial public offerings has improved in recent months and the firm would monetize assets in its portfolio as opportunities arise.

Russia's Evraz Group has abandoned plans to acquire control of Chinese steel maker Delong Holdings Ltd after a $1.5 billion option to raise its stake to 51 percent lapsed on Tuesday, the company said.

Stocks rose on Tuesday, rebounding after sharp losses in the previous session, as better-than-expected results from big retailers encouraged investors to get back into the market.

Southwest Airlines' failed attempt to buy a major rival in the Denver market has sparked debate among experts over whether the carrier's labor relations will impede its efforts to seize market share.

Sean Penn's wife Robin Wright Penn has filed for divorce at the same time that a published interview hinted she had no plans to reconcile with her husband.

Sony Corp will launch a slimmer, cheaper version of its PlayStation 3 game console next month, hoping to jumpstart sales and win back market share from rivals Microsoft and Nintendo.

Representatives for Michael Jackson's family said on Tuesday he would be buried on August 29, which would have been the pop star's 51st birthday, as they outlined plans for a private ceremony with family and friends.

Above sea level it's an idyllic landscape worthy of a magazine cover: The sun shining

A list of 19 songs by The Beatles including classics Lucy in the Sky with Diamonds and A Hard Day's Night for a new Rock Band video game were revealed on Tuesday, leaving only one mystery title remaining.

So you have been on a great trip, haven't you? And after you told the story to your mom, your wife, your friends,

The tourism board of California's wine country knows how to play us. Show us pictures of rolling green hills and idyllic vineyards stretching as far as the eye can see, blissful couples dining by candlelight

The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information.

Metro-Goldwyn-Mayer Inc has replaced its chief executive, Harry Sloan, with a team that includes a turnaround expert and its production boss, Mary Parent, as the storied Hollywood studio grapples with reducing a high debt load.

Sony confirmed on Tuesday that it will be dropping the price on its PlayStation 3 console.

Metro-Goldwyn-Mayer Inc has replaced its chief executive, Harry Sloan, with a team that includes a turnaround expert and its production boss, Mary Parent, as the storied Hollywood studio grapples with reducing a high debt load.

Tax Evasion Targets; Wall St Rebounds; Now Hiring at GM

Jenny Sanford, wife of South Carolina governor, in an interview with Vogue.com said she felt sorry for her husband's Argentinean lover, Maria Belen Chapur.

Sony Corp will launch a cheaper version of its PlayStation 3 game console and plans to cut prices on existing models effective August 19 in Europe and the United States to bolster sales and take aim at rivals Microsoft and Nintendo.

Australia and China struck their biggest trade deal on Tuesday, as the world's two most valuable listed oil companies, Exxon Mobil Corp and PetroChina , reached a $41 billion liquefied natural gas agreement.

U.S. President Barack Obama, said Tuesday he saw encouraging signs of a softening of Israel's resistance to his call for a freeze on settlement-building in the occupied West Bank.

U.S. stocks rose on Tuesday, erasing some of the sharp losses in the previous session as better-than-expected results from big retailers encouraged investors' back into the market.

Political columnist, Robert David Novak, died Tuesday at his home in Washington following a year-long battle with brain cancer.