IBT Staff Reporter

The Australian Dollar opens lower on Wednesday at 0.7886. The local unit moved towards US80 cents late on Tuesday after the Reserve Bank of Australia (RBA) left rates on hold at 3.00 per cent in a decision that was more predictable than an NRL off-field incident.

Mariah Carey, Stevie Wonder and Usher led an emotional public memorial for Michael Jackson on Tuesday as the music world, the Jackson family and thousands of fans bade farewell to the King of Pop.

Mariah Carey, Stevie Wonder and Usher led an emotional public memorial for Michael Jackson on Tuesday as the music world, the Jackson family and thousands of fans bade farewell to the King of Pop.

Another Round of Stimulus?; Credit Debt Hits Hard; Rio team arrested in China

Chinese officials on Tuesday vowed severe punishment for the mob in the deadliest riot since New China was founded in 1949, while international organizations urged restraint in China.

Sony Corporation on Tuesday unveils its new line of HD Handycam camcorders, HDR-CX520V and HDR-CX500V with advanced new optics technology, built-in GPS and NAVTEQ digital maps.

Crude oil prices are forecasted to increase to an average of nearly $70 per barrel in 2009. The United States Natural Gas Fund suspended issuance of new shares on Tuesday afternoon. Leaders from the members of the Major Economies Forum tried to pursuade China and India to agree in a common goal to cut greenhouse gas emissions.

A company run by former AIG CEO Maurice Hank Greenberg did not breach a trust when it ended an executive retirement scheme at the insurer more than four years ago, a federal jury ruled on Tuesday.

U.S. credit card delinquencies reach all-time high following soaring job loss numbers Consumers are increasingly failing to meet credit card payments as they battle high unemployment rates and a shrinking economy which has left many cash strapped. Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the fourth quarter.

Storing and sharing real estate documents on the Internet translates into higher productivity and better customer service.

Hospitals' White House Deal; Rio team arrested in China; Opel's possible role on Mainland

According to reports from TMZ, who saw a copy of Michael Jackson's death certificate, the line item for cause of death is filled in with the word deferred.

Rich nations sought to persuade China and India on Tuesday to agree to a goal of halving world greenhouse gas emissions by 2050 at a summit of major economies in Italy later this week.

European Union ministers and regulators sought Tuesday to minimize boom-and bust economic cycles by agreeing to make capital rules more flexible and ensuring banks have enough cash to ride out a crisis.

Michael Jackson's success as a pop star was nearly eclipsed over time by controversy surrounding his strange and reclusive lifestyle, which earned him the tabloid moniker Wacko Jacko.

Pop star Michael Jackson, who died on June 25, was remembered at a public memorial service on Tuesday at the Staples Centre sports arena in downtown Los Angeles, featuring performances by Mariah Carey and Stevie Wonder.

The musical legacy of Michael Jackson was celebrated at a public memorial in Los Angeles on Tuesday. Following are some of the landmark events in Jackson's controversial personal life:

Democrats in the Senate on Tuesday began a drive to advance climate change legislation, a top Obama administration priority, amid warnings that a bill recently passed by the House of Representatives to reduce carbon emissions would have to be changed.

Michael Jackson, 50, who died on June 25, was being celebrated in a public memorial in Los Angeles on Tuesday. Following are some highlights of Jackson's 40-year career in the music industry.

Mariah Carey, Stevie Wonder and Usher led an emotional public memorial for Michael Jackson on Tuesday as the music world, the Jackson family and thousands of fans bade farewell to the King of Pop.

New York City is taking specific steps to strengthen its media sector through job creation as the industry suffers through an ongoing economic slowdown, Mayor Michael Bloomberg said today.

Microsoft Corp., which has been fined 1.68 billion euros ($2.34 billion) in European Union antitrust cases, is in preliminary talks to settle two additional probes before EU Competition Commissioner Neelie Kroes leaves office, four people familiar with the negotiations said.

Sun Microsystems Inc will distribute an Internet-based PC backup service from tiny industry pioneer Carbonite, which competes with tech industry giants EMC Corp and Symantec Corp.

California IOU recipients can turn to credit unions and check-cashing storefronts if a state budget deal does not appear by Friday and if three major banks refuse to accepting the notes beyond Friday as planned, analysts said on Tuesday.

The top regulator of U.S. futures markets is considering a clampdown on excessive speculation in energy and commodity trading by restricting holdings of big players, part of a broader move by the Obama administration to stabilize the financial markets.

Yahoo! Inc and the National Football League's players union settled a lawsuit on Monday over whether the Web company should pay royalties for using players' data on its fantasy league game, both sides said on Tuesday.

Signaling more forceful U.S. support, President Barack Obama called for the reinstatement of ousted Honduran President Manuel Zelaya on Tuesday even while noting he has been no friend of American policies.

Socks fell to their lowest level in 10 weeks on Tuesday as talk of a second government stimulus plan heightened fears that the economy is not yet on the path to recovery and that the corporate earnings season starting this week will be weak.

China, Russia and Brazil will use this week's G8 summit in Italy to push their view that the world needs to think about a new global reserve currency as an alternative to the dollar, officials said on Tuesday.