IBT Staff Reporter

Business lender CIT Group's troubles are raising questions about the Federal Reserve's ability to pinpoint a firm's problems and put it back on the right track.

Most men would not want to be in a room with their estranged wife, current girlfriend and two former mistresses, but Allen Stanford is not most men.

CIT Group Inc said it may post a loss exceeding $1.5 billion for the second quarter and could file for bankruptcy protection if bondholders reject a debt restructuring, raising new fears that the lender to some 1 million businesses might fail.

Samsung Electronics Co Ltd said on Tuesday it has begun shipping its new class of 2GB DDR3 memory equipped with 40nm technology.

United Airlines parent UAL Corp and Continental Airlines posted quarterly losses on sagging travel, and both carriers, like many other major U.S. companies, unveiled cost-cutting efforts for the second half of 2009.

Exelon Corporation, the largest operator of nuclear power plants in the U.S., terminated its offer to acquire rival NRG Energy Inc. with a simple and direct statement today after nine months waiting for negotiations.

Investors vexed by losses and shoddy treatment last year are not abandoning hedge funds, as feared, but are making fund managers bend.

The Dow rose on Tuesday as a solid profit from Caterpillar Inc eclipsed unease about the company's outlook for the current quarter, while both the Nasdaq and the S&P 500 clung to tiny gains after a round of profit-taking.

Tens of thousands of pop culture fans will descend on the Comic-Con International event this week in San Diego that in recent years has changed from a convention of comic book lovers to a Hollywood movie bazaar.

Susan Boyle, a singer who became a global star with a show-stopping performance on Britain's Got Talent, has said in a television interview that her sudden fame was like a demolition ball.

Federal Reserve Chairman Ben Bernanke Tuesday said the outlook for the long-suffering U.S. economy was improving, but supportive policies would be needed for some time to prevent rising unemployment from undercutting recovery.

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

President Barack Obama said on Tuesday U.S. healthcare reform was closer than ever but there was still work to do as his top policy initiative, already rejected by Republicans, ran into trouble with his own Democrats.

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

JPMorgan Chase & Co Chief Executive Jamie Dimon made a $2.29 million pretax profit by exercising stock options and then selling most of the resulting shares of the second-largest U.S. bank.

The Australian Dollar opens at 0.8150 after another session of increased risk appetite in which equities and commodities all posted gains.. In offshore trade the Aussie climbed steadily and hit a high of 0.8174. Boosting sentiment was news that New York-based lender CIT Group Inc approved a US$3 billion loan from a group of its bondholders.

China International Travel Service Corporation Limited got approval from the China Securities Regulatory Commission (CSRC) for an initial public offering (IPO) on the Shanghai Stock Exchange, the securities regulator said on Monday.

U.S. machinery maker Caterpillar Inc posted stronger-than-expected second-quarter earnings and raised its full-year outlook, citing signs of global economic stability, sending its shares up as much as 13 percent.

UnitedHealth Group Inc posted stronger-than-expected second-quarter profit on Tuesday, helped by growth in the insurer's plans for elderly and low-income Americans and in its drug benefit business, and its shares rose 2 percent.

CIT Group Inc warned on Tuesday it could still file for bankruptcy if a cash tender offer for its outstanding notes fails, one day after securing $3 billion in emergency financing from its bondholders.

U.S. stocks slid on Tuesday, retreating after initial, earnings-fueled gains were overshadowed by cautious comments on the economic outlook from company executives and Federal Reserve Chairman Ben Bernanke.

The bankruptcy restructurings of General Motors Corp and Chrysler LLC have improved credit market access for auto suppliers, but the sector is far from healthy and requires close government monitoring, an Obama administration official said on Tuesday.

The Rural Cellular Association, whose members include about 100 small and medium-sized carriers, said on Tuesday it was encouraged by Verizon Wireless's offer to limit new exclusive handset deals but the offer was inadequate.

We chose Bermuda with its British past and multicultural present for our honeymoon. Bermuda is a bit off the norm. You can't camp nor drive a car, but you can rent a motor scooter.

President Barack Obama said on Tuesday the healthcare overhaul plan working its way through the U.S. Congress needs more work amid signs his top policy initiative, already rejected by Republicans, was running into deeper trouble with his own Democrats.

Asset manager BlackRock Inc said second-quarter profit fell from a year earlier as assets under management declined, but results rebounded from the first quarter as markets recovered.

Coca-Cola Co's better-than-expected quarterly profit was not enough to please investors who looked for stocks with stronger growth potential on Tuesday, as weaker foreign currencies reduced Coke's gains in emerging markets.

Intel on Tuesday unveiled its second generation solid-state drive based on 34-nanometer manufacturing process promising higher performance at less cost.

BOOM - BOOM - BOOM. The bass was pumping, it was 3am in the Bahamas, and the place was rocking. Unfortunately, the hotel room I was sharing with my dad was right above it.