IBT Staff Reporter

General Electric Co will pay a $50 million civil penalty to settle charges by the U.S. Securities and Exchange Commission that it misled investors with some fraudulent accounting in 2002 and 2003.

U.S. homebuilder D.R. Horton Inc reported a deeper-than-expected quarterly loss on Tuesday, as it navigates its way through the worst housing slump the nation has seen since the 1930s.

Severe rain, which has been lashing China's southwest Chongqing since Sunday, has killed one person and affected 117 towns and 380,000 people as of 6:00am Tuesday. Four people reported missing have still not been found.

Melissa E. Hathaway is stepping down from its position as a United States Acting Cyber-security Chief. The acting senior director for cyberspace for the National Security and Homeland Security Councils is reportedly leaving her position later this month. Hathaway headed President Obama's 60-day review on the nation's cyber-infrastructure.

Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a broad bank supervision overhaul plan.

A YouTube video showing a 7-year-old boy at the wheel of a sport utility vehicle -- with his family cheering him on -- has prompted an investigation by Quebec police and family services, police said on Tuesday.

General Electric Co will pay a $50 million civil penalty to settle charges that it had misled investors with some fraudulent accounting in 2002 and 2003, the largest U.S. conglomerate said on Tuesday.

Pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June, advancing for the fifth straight month for the first time in six years, a real estate trade group said on Tuesday.

The resignation of Google's chief executive Eric Schmidt from Apple's board of directors may not be enough to satisfy the Federal Trade Commission, which plans to continue its ongoing investigation into the close relationship between the two tech giants.

Oil steadied over $71 a barrel on Tuesday as expectations for a crude inventory rise in top consumer the United States damped investor optimism.

One third of European Union citizens say they have never used the Internet, compared with 40 percent in 2007, an EU study showed on Tuesday.

General Electric Co. says it will pay a $50 million penalty to settle government charges that its accounting procedures violated provisions of U.S. securities laws and increased its reported earnings to mislead investors in its financial statements, federal regulators said Tuesday.

Toshiba Corporation on Tuesday unveiled the world's largest memory card equipped with fastest data transfer rates for reading and writing speed of 60Mbps and 30Mbps respectively.

Nikon on Tuesday introduced new lines of Coolpix point-and-shoot mini cameras with stunning functionalities such as built in projector, touch screen capabilities and is equipped with OLED technology.

Pending sales of previously owned U.S. homes rose in June for a fifth straight month, another encouraging sign of life for the struggling housing market, the National Association of Realtors reported Tuesday. The higher than expected rise was boosted by low interest rates and bargain home prices.

General Motors is taking more time to negotiate with Magna and RHJ International over the planned sale of its European arm Opel, the U.S.-based company said on Tuesday.

Compact cars and hybrids have proved to be top sellers under the government's trade-in program, according to government data.

U.S. stocks slipped on Tuesday, weighed by profit-taking in some of the shares that propelled Wall Street to a nine-month high.

Women with mild or severe high blood pressure during pregnancy - a condition known as pre-eclampsia - should have labor induced after 37 weeks' gestation, according to a new study.

You knew too much TV could be bad for kids in general. Now, hints a study released Monday, too much time in front of the tube,

Use of antidepressant drugs in the United States doubled between 1996 and 2005, probably because of a mix of factors, researchers reported on Monday.

Kids these days may be more likely to get hurt in gym class than they were a decade ago, a new study out in Pediatrics shows.

PepsiCo Inc agreed to buy Pepsi Bottling Group Inc and PepsiAmericas Inc in a sweetened cash-and-stock deal worth $7.8 billion, the second-largest soft drink maker said on Tuesday.

A growing number of British teenagers are swapping sexually explicit images of themselves on mobile phones leaving them open to bullying and victimization by their peers, police and a children's charity said on Tuesday.

Pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June, a real estate trade group said on Tuesday, more evidence the housing market was starting to claw out of a three-year slump.

On Tuesday, HP has announced that it has signed a a five-year workplace services contract deal with AkzoNobel N.V. that could save cost and increase employee productivity.

An industry executive familiar with Netflix's plans told Multichannel about Netflix plans in extending its services. Netflix is working towards its Video Streaming development to bring videos on Apple iPhone and iPod Touch devices including Nintendo Wii.

Taliban militants fired at least nine rockets at the Afghan capital before dawn on Tuesday in the biggest attack of its kind for several years, some landing near major Western embassies, police and witnesses said.

Fast food chain Domino's Pizza is having a giveaway in all its Washington D.C. restaurants, offering a new dessert called Chocolate Lava Crunch Cake on Tuesday, August 4, in honor of President Barack Obama's birthday.