IBT Staff Reporter

Mohamed El-Erian, the chief executive of top bond fund manager PIMCO, on Tuesday said the rally in U.S. stocks had topped out because valuations have shot up too quickly.

Ground breaking for new U.S. homes fell in July, but a fifth straight monthly rise in single-family home construction kept hopes alive the economy was poised to recover from recession.

Stocks rose on Tuesday, rebounding from a sharp fall in global equities in the previous session as better-than-expected results from big retailers offset a surprise drop in housing starts.

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The euro rose on Tuesday, recovering from multi-week lows against the dollar and yen, after an unexpected gain in German investor sentiment boosted optimism about the euro zone economy.

Stocks extended gains on Tuesday, boosted by financial and technology shares one day after a sharp sell-off, while retailers were lifted by better-than-expected results from Home Depot Inc and Target Corp .

Apple Inc. will hold its music event Sep. 9 but it won't debut a tablet as previously speculated, according to reports Tuesday.

The Federal Reserve recently issued its '5 Tips for Getting the Most from Your Credit Card”

Upscale department store operator Saks Inc posted a narrower-than-expected quarterly loss on Tuesday as it trimmed costs while well-heeled shoppers held back from pricey purchases.

Stocks rose on Tuesday, rebounding from a sharp fall in global equities the previous day, as better-than-expected results from retailers, including Home Depot Inc and Target Corp , offset a surprise drop in housing starts.

General Motors signed a deal on Tuesday to sell its Saab car business to a tiny Swedish luxury carmaker, the first in a series of big sales the U.S. group is planning as it slims down.

The Miss Black USA title holder, Shanya Rudd, from Pennsylvania said she is no pageant girl and that winning the 2009 title on August 3 caught her by surprise.

A woman from the North African town of Gafsa in Tunisia in Africa, is pregnant with 12 babies, according to a report from the British newspaper The Sun.

British band Radiohead formally released its new song

General Motors Co [GM.UL] is stepping up production at car plants in Michigan and Ohio, Bloomberg said, citing people familiar with the matter.

Rosetta Stone Inc shares lost more than a quarter of their value on Monday after the language training software maker cut its third-quarter earnings outlook and scrapped a proposed stock offering a week after announcing it.

In a move that could speed his release, Scotland's high court agreed that a Libyan jailed for the 1988 bombing of a plane over Lockerbie can drop his appeal against conviction.

HealthPort Inc, a healthcare information service provider, filed with regulators on Monday to raise up to $100 million in an initial public offering, becoming the latest company with private equity funding to apply to go public.

China Everbright Securities' 30 percent rise on its Shanghai debut, subdued by China standards, suggests investor demand may be cooling after previous soaraway debuts fuelled concerns over price bubbles.

Oil rose above $67 a barrel on Tuesday, tracking gains on global stock markets ahead of key U.S. crude inventory data.

India's Reliance Communications has started talks to buy Kuwaiti Zain's African operations, which media say are worth $10 billion, two banking sources said.

Russia Tuesday said it had arrested eight people for hijacking a merchant ship whose two-week disappearance baffled experts until she was found by Moscow's navy in the Atlantic Ocean.

Novatek, Russia's second-largest gas producer, on Tuesday reported a 1.6 percent rise in net profit in the second quarter of 2009, year-on-year, above analysts' expectations.

South Korea is counting down to its first space launch on Wednesday that will likely open the door to its nascent rocket program and rile neighbor North Korea, hit by U.N. sanctions after its own rocket launch in April.

The Bank of Japan will likely face political pressure regardless of whether the ruling coalition or the main opposition wins the upcoming election, with both parties seen leaning on monetary policy to support an economic recovery.

Japan looked headed for historic change as the official campaign kicked off on Tuesday for an August 30 election expected to end more than half a century rule by the conservative Liberal Democratic Party (LDP).

The main opposition Democratic Party of Japan (DPJ), which has vowed to pay more heed to consumers than firms and break bureaucrats' grip on policy, leads the ruling Liberal Democratic Party (LDP) in voter opinion polls ahead of an August 30 election.

Retailers Target Corp and Saks Inc posted better-than-expected quarterly results on Tuesday as they clamped down on expenses and inventory to offset falling sales, sending shares higher.

A new comparative survey of 39 credit card offers from many of the nation's largest U.S. banks and credit unions has been released, offering consumers an opportunity to study offers on the basis of annual fees and APR rates, and fees.