IBT Staff Reporter

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.

The Japanese government has approved Suning's plan to purchase a stake in Japanese home appliance retailer Laox Co., China's leading retailer said on Tuesday.

A majority of workers say they concentrate better working off-site than in the office, but many say loading files and software remotely slows them down and affects their productivity, a survey said on Tuesday.

China Unicom, the country's second largest wireless carrier, has reached an agreement with Apple as its sole iPhone partner in China for three years, and Apple's 3 G iPhone will be sold by the end of September, the ccidnet.com reported on Tuesday.

New York has been rated the best U.S. city for singles, bumping Atlanta out of the top spot.

Incentive pay under fire, Energy markets pressured, Home prices look up

The Dow and the S&P 500 dipped on Tuesday as investors shrugged off weak consumer confidence data and focused on positive earnings reports.

The United States and China agreed on a broad framework of cooperation on Tuesday as they strive to lead the global economy out of recession and forge a closer alliance on tough environmental and political issues.

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.

Ubisoft, whose revenues declined 51 percent in the first quarter, delayed its awaited game Splinter Cell Conviction and Red Steel 2 due to slow demand and in the anticipation of market conditions.

The Edmunds.com provides list of vehicles eligible for Cash for Clunkers rebate. The “Cash for Clunkers” program was enacted by the U.S. House of Representatives on June 24. And it is likely to be made into law by the end of the summer.

A House panel on Tuesday voted on a legislation banning corporate pay practices and will impose restrictions on the pay of top executives and give shareholders a vote on executive compensation that encourages financial companies to take inappropriate risks. The bill, which is opposed by Republicans, was approved in a 40-28 party-line vote.

IBM plans to buy business analytics company SPSS Inc for $1.2 billion in cash to better compete with Oracle Corp and SAP AG in the growing field of business intelligence.

Full video, audio and a transcript of Federal Reserve Bank chief Ben Bernanke's appearance on PBS' News Hour with Jim Lehrer is available online.

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.

Legislation that would impose new curbs on executive pay was approved on Tuesday by a congressional committee, advancing a component of the Obama administration's broad plan to tighten financial regulation.

Exiled Uyghur leader Rebiya Kadeer has arrived in Japan despite China's displeasure, and China in response strongly condemned Japan for allowing the visit as she was accused of instigating the deadly ethnic riots in Xinjiang.

Sex offenders have nowhere to hide. People who use iPhone with Offender Locator application can now be able to locate sex offenders to all the 50 states of US.

President Barack Obama will on Thursday at 6pm EST meet with Harvard University scholar and the policeman who arrested him at the White House which according to chief White House spokesman, Robert Gibbs, will be about having a beer and de-escalation.

The Dow and the S&P 500 dipped on Tuesday, recovering from earlier declines, as investors shrugged off weak consumer confidence data and focused on positive earnings reports.

The federal government's cash-for-clunkers program caused a stir this weekend with many consumers heading out to auto dealers' showrooms to trade in their car, with many concerns now surfacing about how the program really works and how long it will last.

Microsoft Corp has started accepting submission of mobile phone software applications from registered developers.

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said Tuesday that the federal agency must seriously consider setting strict position limits in the energy markets.

Microsoft issued poor fourth-quarter earnings with profit plunging 29 percent, its first decline in full-year revenue in the company's 34-year history.

Banks robbers made off with nearly $7 million and killed eight security guards in an overnight raid on a Baghdad Bank before dawn, the Los Angeles Times reported Tuesday.

The Obama administration repeated on Tuesday a threat to veto an annual defense spending bill if it included money to continue Lockheed Martin Corp's F-22 aircraft production line.

Valero Energy Corp. chief executive officer Bill Klesse hopes the Waxman-Markey bill, which includes a proposal to enact a cap-and-trade system in the country, is eventually defeated when it gets into the U.S. Senate, he said Tuesday.

The Dow and the S&P slipped on Tuesday, recovering from steeper declines earlier in the day, as investors shrugged off weak consumer confidence data and focused on positive earnings reports.

California governor, Arnold Schwarzenegger, signed the newly trimmed California budget after making cuts to child welfare programs, medical care for the poor and AIDS prevention efforts on Tuesday.