IBT Staff Reporter

As the auto industry race twists and turns over which metal to use in electric cars, the first lithium-powered sports car has hit the streets of Europe.

Chery Automobile Co, China's largest indigenous car maker, has resumed preparations for an A-share initial public offering as the country's securities regulator lifted its nearly 10-month ban on domestic IPOs due to a recovery in the country's stock market.

NRG Energy Inc's shareholders voted off the slate of directors that rival Exelon Corp had proposed to be part of NRG's Board on Tuesday during the annual shareholders meeting in New Jersey, according to Reuters.

When most people envision scuba diving and snorkeling, they tend to imagine tropical locales with sandy beaches, turquoise water and brightly-colored fish. Places like the Caribbean, South America, and the South Pacific come to mind.

Commercial mortgages at U.S. banks have been failing at the fastest rate in nearly 20 years, the Wall Street Journal said, citing its own analysis.

To me, the Northern Territory is Australia. That's not to say that the rest of the country doesn't have much going on, it certainly does, but the Northern Territory is the Australia of my boyhood.

The U.S. investment in the Apollo space program, which landed men on the moon, paid off handsomely, unlike the $100 billion plowed into the International Space Station, Apollo's pioneering astronauts said on Monday.

Freddie Mac (FRE.P), the mortgage finance company seized by regulators in September, has chosen Charles

Bank of America's (BAC.N) Merrill Lynch is in talks with several firms including Blackstone (BX.N) and Apollo Investment Management to sell management rights of its $2.65 billion Asian Real Estate Opportunity Fund, a source with knowledge of the deal said.

Japanese Prime Minister Taro Aso dissolved parliament's lower house on Tuesday for an August 30 election that polls show could see his conservative party ousted for only the second time in its more than half-century reign.

Iran's police chief accused the opposition on Tuesday of inciting sedition after last month's disputed presidential election and said his force would act firmly to uphold the law.

Asia-Pacific nations agreed on Tuesday to shun protectionist measures after some criticized the United States and other developed world buy local campaigns at a meeting pushing forward momentum toward a global trade pact.

Stocks rose slightly on Tuesday as upbeat quarterly results from bellwether companies, including Caterpillar Inc, overshadowed Federal Reserve Chairman Ben Bernanke's cautious outlook for the economy.

The U.S. Securities and Exchange Commission is seeking to prevent Ralph Janvey -- the receiver appointed to liquidate Stanford assets -- from suing investors for proceeds they got from Texan financier Allen Stanford.

The H1N1 virus has killed more than 700 people worldwide since emerging in April, and countries could consider closing schools to slow its spread, the World Health Organization (WHO) said on Tuesday.

A senior member of German Chancellor Angela Merkel's conservative party on Tuesday urged Israel not to build more settlements, warning it risked political suicide if it continued to do so.

Exelon Corp's ambitious acquisition attempt to form the largest power generation firm in the U.S. may get a boost on Tuesday after a crucial vote at the annual shareholders meeting for NRG Energy, Inc in New Jersey.

President Barack Obama said in an interview aired on Tuesday that healthcare reform bills needed more work, but he was optimistic that the final legislation would drive down costs over the long-term.

The Nasdaq briefly turned positive on Tuesday to trade near break-even, along with the S&P 500 index, as optimism about the latest corporate earning results tempered a cautious economic assessment from U.S. Federal Reserve Chairman Ben Bernanke.

Much of Corporate America has slashed costs to stay in the black during the recession, but wielding the knife too heavily could also remove the ability to grow in a recovery. If you cut into flesh long enough, eventually you find bone, said David Rosenberg, chief economist at Gluskin Sheff in Toronto. Cost cutting is not a bottomless pit.

The S&P 500 index turned negative on Tuesday, while the Nasdaq added to losses and the Dow industrials pared gains after U.S. Federal Reserve Chairman Ben Bernanke cautioned that unemployment was likely to remain high into 2011.

Asset manager BlackRock Inc said second-quarter profit and revenue fell from a year earlier but improved from the first quarter.

United Technologies Corp posted a 23 percent drop in profit and lowered its 2009 forecast as it faces weaker-than-expected orders for equipment used in large buildings and aircraft.

UAE telecoms firm Emirates Telecommunications Corp (Etisalat) could invest at least $500 million if it wins a tender for a telecom licence in Libya as it looks to boost its customer base into North Africa, a top executive said on Tuesday.

Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit.

China's CNOOC is exploring a potential $15 billion joint venture with Repsol, involving the Spanish oil company's global exploration and production assets, a source familiar with the matter said.

U.S. machinery maker Caterpillar Inc posted stronger-than-expected quarterly earnings on Tuesday and raised its full-year outlook, citing what it said were growing signs of stability in the world's credit markets and economies.

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, aided by growth in emerging markets, but its shares fell as revenue was lighter than anticipated and investors looked for stocks with stronger growth potential.

Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit.