IBT Staff Reporter

St. Louis Federal Reserve Bank President James Bullard said on Tuesday that public anger over the U.S. financial crisis and subsequent bailouts could cause big problems if this escalated into a political challenge to the independence of the U.S. central bank.

American International Group Inc got a new slate of government-backed directors at a subdued annual meeting on Tuesday, effectively revamping its board after the insurer's $180 billion taxpayer bailout.

A keynote speech by Cisco Systems chief executive John Chambers was interrupted by a group of demonstrators at the company's annual Cisco Live event in San Francisco.

General Motors Corp's chief executive told a U.S. bankruptcy court on Tuesday that the sale of GM's main assets to government-backed New GM must win court approval in order for the automaker to survive.

The New York Power Authority agreed on Tuesday to sell low-cost power to Yahoo Inc to build a data canter and to Sunworks Solar LLC to build a solar panel manufacturing plant.

Senator-elect Al Franken on Tuesday was declared by the Minnesota's highest court to be the winner of the state's senatorial race last November, accepting the office after former Sen. Norm Coleman conceded defeat.

U.S. securities regulators are considering changing how companies are required to disclose stock options awarded to executives, people familiar with the Securities and Exchange Commission's thinking told Reuters on Tuesday.

Devoted users and fans of popular free file-sharing website, The Pirate Bay, have vented out on its website, accusing the company of selling out.

U.S. securities regulators are considering changing how companies are required to disclose stock options awarded to executives, people familiar with the Securities and Exchange Commission's thinking told Reuters on Tuesday.

Joost, an early pioneer in bringing popular TV shows and movies to the Web, is dropping its consumer service, cutting jobs and losing its high-profile chief executive as it struggles to find revenue to survive.

A will drafted by Michael Jackson in 2002 which was believed to his last will has been found and is likely to appear in court, according to the Wall Street Journal's report.

U.S. investigators say 10 or more people associated with imprisoned swindler Bernard Madoff could face criminal charges in the coming months, a law enforcement source said on Tuesday.

A Yemeni Airbus A310-300 carrying 153 people crashed into the Indian Ocean Tuesday as it approached for a landing on the island nation of Comoros, Yemeni officials said.

The Walt Disney Co has reached a deal with Hong Kong's government to expand the Disneyland theme park at a cost of about $465 million, officials said on Tuesday.

Republican senate candidate Norm Coleman gave up his fight for the U.S. Senate on Tuesday, congratulating rival Al Franken. Earlier today, Minnesota's highest court upheld a decision by a lower court declaring Franken the winner in last November's election.

Cisco Systems Inc is considering offering Web-based alternatives to Microsoft Corp's popular Office software as the networking giant expands on the Internet.

Sun Microsystems on Tuesday released its new powerful virtualization software with supports for multiple processors.

The U.S. Justice Department said on Tuesday it was pressing ahead with its five-month-old lawsuit against UBS AG to force the Swiss bank to identify thousands of U.S. clients with secret UBS accounts.

Stocks fell on Tuesday as an unexpected drop in consumer confidence cooled recent optimism about an economic recovery, but Wall Street still closed out its best quarter in a decade.

The U.S. Environmental Protection Agency on Tuesday granted California's request to regulate greenhouse gas emissions from cars and light trucks as the Obama administration implements measures to increase fuel efficiency and reduce the impact on global warming linked to these gases.

Michael Jackson's body will be driven to his Neverland Valley Ranch in central California as early as Thursday with public viewing being set for later this week, according to media reports on Tuesday.

Wal-Mart Stores Inc , the world's largest retailer, said on Tuesday that it supports President Barack Obama's push to require large employers to offer health insurance to workers.

YouTube co-founder Steve Chen is leaving the video service, three years after being bought by Google , but is staying with the search giant, according to a report by All Things Digital.

Stocks fell on Tuesday as an unexpected drop in consumer confidence cooled recent optimism about an economic recovery, but Wall Street still closed out its best quarter in a decade.

The Minnesota Supreme Court on Tuesday declared democrat Al Franken as the winner of Minnesota's disputed U.S. Senate seat over Republican Norm Coleman.

The King of Pop, Michael Jackson's body will return to his Neverland Ranch on late Thursday morning. And a public viewing has been set on Friday, the CNN confirmed on Tuesday.

Farrah Fawcett's son, Redmond O'Neal was on Tuesday given permission to leave his cell for three hours to attend his mother's funeral.

The worldwide IT market took a major plunge in the current fiscal quarter but will soon to recover by the end fourth quarter and into 2010, according to Forrester analyst research on Tuesday.

Oil fell 2 percent to below $70 a barrel on Tuesday after a drop in U.S. consumer confidence data in May added to concerns over a potential economic rebound.