IBT Staff Reporter

The U.S. Senate Environment and Public Works Committee chaired by Democrat Barbara Boxer held two separate hearings on climate change legislation today. Crude oil inventories fell by 1.16 million barrels last week. Exxon Mobil Corporation will invest more than $600 million to develop biofuels from photosynthetic algae

Intel Corp., the world's biggest chipmaker, reported its first loss in 22 years on Tuesday as it recorded a $1.45 billion charge related to a European Union antitrust fine.

U.S. stocks managed modest gains on Tuesday as better-than-expected corporate profits overshadowed concerns about weak consumer demand.

The U.S. Department of Energy announced on Tuesday it will offer $300 million in rebates funding for consumers who purchase home appliances qualified by Energy Star.

Goldman Sachs Group Inc said quarterly earnings surged 33 percent on blowout trading results, trouncing forecasts and putting the bank on pace for hefty bonuses that could draw unwanted scrutiny.

A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.

Samsung on Tuesday introduced a new line of its SL-series camera with high end display features.

Hewlett-Packard's EDS closed a $90 million technology infrastructure management agreement with three financial services firms in Chile.

EBay Inc is pulling the plug on its annual eBay Live! event, eschewing the large networking affair for a series of more intimate gatherings to connect sellers.

Corrects name of blogger in 7th paragraph, Ina instead of Ira

U.S. stocks managed modest gains on Tuesday as better-than-expected corporate profits overshadowed concerns about weak consumer demand.

U.S. President Barack Obama's plans to overhaul the $2.5 trillion healthcare industry got a boost on Tuesday as Democrats in the House of Representatives offered sweeping legislation and predicted passage on schedule by August.

British Airways Plc, which is facing a tough business class market, is launching a contest to give away 1,000 round-trips starting in September.

Internet criminals are doing business like legitimate companies to successfully execute their work, according to the Cisco midyear edition security report.

Microsoft Corp's chief executive attempted to laugh off the challenge of Google Inc's planned computer operating system on Tuesday, conceding only that it was interesting.

Don't know which wine to have with a pepperoni pizza? There's an app for that -- as well as websites and Twitter.

Alaska Gov. Sarah Palin, who ran for Vice President with Republican candidate John McCain in the 2008 Presidential Elections, called the American Clean Energy and Security Act a threat to the U.S. economy in an op-ed piece published in the Washington Post paper on Tuesday.

Sun Microsystems Inc warned that quarterly results will sharply miss Wall Street projections, but the news did not appear to faze Oracle Corp , which is buying the company for $7 billion.

Just three months after iTunes hit the 1 billion milestone, and after Saturday's one-year anniversary of the popular mobile app store - iTunes has now reached a record number of 1.5 billion downloads.

Shares of Yum! Brands, Inc rose on Tuesday ahead of the company's second quarter earnings report to be released after the market closes. The Louisville, Ky-based firm had previously predicted that the second quarter would be its toughest of the year.

US Airways Group on Tuesday said it would reduce airport staffing by 600 jobs this fall because of weak demand for business travel and declining revenue.

American cyclist Lance Armstrong remained third overall at the conclusion of the 10th stage of the Tour of France on Tuesday.

Sun Microsystems Inc warned that quarterly results will sharply miss Wall Street projections, but the news did not appear to faze Oracle Corp , which is buying the company for $7 billion.

Stocks were stuck in a narrow range on Tuesday as positive corporate results were tempered by concern that consumer demand remains weak.

U.S. oil prices dipped into negative territory on Tuesday as dealers worried a slow and bumpy economic recovery could delay a rebound in ailing world energy demand.

Johnson & Johnson posted a 5 percent drop in second-quarter earnings on Tuesday, but profit and revenue beat analysts' forecasts thanks to surprisingly resilient pharmaceutical and consumer product sales.

Trend Micro on Tuesday unveiled its anti-malware software designed for virtual machines environments such as VMware's ESX or ESXi.

Apple Inc on Tuesday said its application download hit 1.5 billion in its first year, setting another milestone for the store which has 65,000 apps and 100,000 developers.

An Al-Qaeda branch in North Africa threatened to take revenge on oversea Chinese for the deaths of Muslim Uygurs in the deadly July 5 violence in China's Xinjiang, Bloomberg reported on Tuesday, citing a report from a risk analysis company.