IBT Staff Reporter

Relevant sources from Morgan Stanley &Co confirmed that C.N. Liu, managing director and head of corporate finance department in Hong Kong, have dismissed Morgan Stanley early in July.

DuPont posted a 61 percent drop in quarterly profit hurt by weak global demand, but cost cuts helped the chemical maker beat Wall Street forecasts.

U.S. drugmaker Schering-Plough Corp said on Tuesday its second-quarter earnings rose after lower special charges, but global revenue declined as the weak dollar hurt sales in overseas markets.

The U.S. Senate Committee on Environment & Public Works will hold a hearing on green jobs Tuesday 10:00 a.m. Sinopec Corp., the second-biggest oil refiner in China reports domestic fuel sales in the second quarter. NRG Energy Inc. will hold its annual meeting of shareholders.

Insurer UnitedHealth Group Inc posted better-than-expected second-quarter profit on Tuesday, helped by growth in its plans for elderly and low-income Americans.

California Governor Arnold Schwarzenegger and top lawmakers agreed on Monday to close a $26.3 billion deficit in the state's budget in a deal that includes $15.5 billion in spending cuts, they said.

The fed Governor Ben Bernanke will today at 10am EST deliver a semi-annual monetary policy testimony to House Financial Services Committee in Washington. The Fed Chairman will comment on how the Fed observes the current U.S. economy and the value of dollar. Bernanke's comments may influence the volatility of the currency and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or b...

Merck & Co said second-quarter earnings fell, hurt by lower sales of its cholesterol drugs, but income from partnerships and a rebound in sales of asthma drug Singulair helped the drugmaker beat profit forecasts.

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, as growth in markets such as India and China helped offset the impact of the stronger U.S. dollar.

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

Apple, the iPhone maker, is scheduled to report their fiscal third quarter 2009 results after the market closes on Tuesday. Analyst estimate between $1.02 earnings per share to a high of $1.31, with a consensus estimate of $1.15.

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

Stock index futures rose on Tuesday, a day after the S&P 500 hit its highest closing level in eight months, after Caterpillar Inc posted stronger-than-expected quarterly results.

U.S. consumers will spend 8.5 percent to 12 percent less this year on back-to-school items than they did last year, as cash-strapped parents try to get children to wear last year's fashions, a retail industry monitor said on Tuesday.

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, as growth in markets such as India and China helped offset the impact of the stronger U.S. dollar.

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

Federal Reserve Chairman Ben Bernanke said the huge amounts of money the U.S. central bank has pumped into the economy will not undercut its ability to push borrowing costs higher when the time is ripe.

China's Sinopec Corp said its domestic fuel sales improved in the second quarter after a deep decline at the start of this year, but remained weaker than early estimates of oil demand.

U.S. oilfield services company BJ Services Co (BJS.N) reported a quarterly net loss on Tuesday as oil and gas producers ratcheted back activity in response to weaker oil and gas prices.

China and other developing nations must help pay for the reduction of greenhouse gas emissions blamed for global warming, U.S. Commerce Secretary Gary Locke said on Monday, backing off a recent statement that put a greater burden on the United States.

Stock index futures were little changed on Tuesday, a day after the S&P 500 hit its highest closing level in eight months and ahead of one of the busiest days of this quarter's earnings season.

World number two truck maker Volvo posted a deeper than expected second-quarter loss on Tuesday and stood by its forecast that the economic downturn would see its main markets shrivel this year.

U.S. small businesses say they feel slighted by the Obama administration and efforts to shore up the economy, with large companies taking much of the government's attention and stimulus cash.

World stocks approached a 9-month high on Tuesday while emerging stocks hit a 2009 peak as investors anticipated upward surprises from earnings results due later given a run of strong reports over the past week.

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.1-0.2 percent, pointing to a lower start on Wall Street on Tuesday.

Asian stocks edged up to another 10-month peak on Tuesday after strong company earnings reassured investors that a U.S. economic recovery is taking root, prompting a further shift into riskier assets from the safe-haven dollar.

Asian stocks scaled a 10-month peak on Tuesday after upbeat company earnings reassured investors that a U.S. economic recovery is taking root, prompting a further shift into riskier assets and away from the safe-haven dollar.

Oil fell below $64 a barrel on Tuesday, as the dollar edged off six-week lows and on lingering skepticism over the pace of the global economic rebound.

Oil steadied near $64 a barrel on Tuesday, holding onto recent gains made as optimism over a global economic recovery sparked a rally in equity markets and a drop in the dollar.