IBT Staff Reporter

China's state-owned Chinalco is taking up its full entitlement to Rio Tinto's $15.2 billion share issue, media reports said on Tuesday, with trade in the rights suggesting Chinalco is far from severing its ties with the Anglo-Australian miner.

Oil fell to around $70 a barrel on Tuesday, pressured by a stronger U.S. dollar and falling equities after weak U.S. consumer confidence data.

Dell Inc, the worlds No.2 PC maker, is developing a pocket-sized device for tapping into the Internet, the Wall Street Journal said citing people familiar with the company's plans.

A video showing Maria Belen Chapur, the Argentinean woman which South Carolina Gov. Mark Sanford confessed having an affair with, has been published in Argentinean and U.S. media and is the first and only image of her so far.

New GM. It has been the mantra General Motors Corp. has adopted since it officially determined that the once venerable American car company had to radically change its plans for the future.

General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.

China will delay a controversial plan to force manufacturers to bundle Internet filtering software with new personal computers sold in the country, in an abrupt retreat announced hours before the policy was due to start.

U.S. consumer confidence fell in June after two straight months of gains.

Prices of U.S. single-family homes fell in April from March but the pace of the decline moderated, suggesting stability is emerging in some regions, according to Standard & Poor's/Case Shiller home price indexes released on Tuesday.

Standing by your man suddenly seems to be going out of fashion for some American women in the public eye.

China will delay a controversial policy to force manufacturers to install mandatory filtering software on all new computers, state news agency Xinhua said on Tuesday.

General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.

Swedish software company Global Gaming Factory X AB said on Tuesday it had agreed to buy free file-sharing website The Pirate Bay, and that it would find ways to compensate copyright owners for downloaded material.

Japan pledged to shore up Elpida Memory Inc with public money, bringing the total aid expected to come to the loss-making chip maker to $1.7 billion as it struggles to compete with its larger South Korean rivals.

U.S. stock futures were modestly higher on Tuesday ahead of a new round of data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.

Michael Jackson's mother Katherine on Monday won temporary guardianship of the late singer's children and control of his estate as a legal battle over his kids, money and belongings began to take shape.

The private funeral for actress Farrah Fawcett is taking place at the Catholic cathedral of Our Lady of the Angels in downtown Los Angeles Tuesday.

What do Johnny Depp, Garfield, Paris Hilton and roast pork have in common? In China, the answer is that a new government-mandated Internet filter rates some pictures of all four of them as bad for your moral health.

Efforts to save two leading European carmakers took a twist on Tuesday that could change the ownership of both crisis-hit General Motors Corp's Opel and German sportscar maker Porsche .

Iraq auctioned contracts to run eight giant oil and gas fields Tuesday as it sought to take charge of its own reconstruction after six years of war, but oil companies were reluctant to pay what it asked.

U.S. stock futures were flat on Tuesday ahead of a batch of new data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.

British authorities have frozen $100 million linked to Texas billionaire and alleged swindler Allen Stanford following a request from the United States Department of Justice.

Oil prices gave away early gains on Tuesday, easing toward $71 a barrel ahead of U.S. inventory data expected to show a rise in oil product stocks.

If plug-in hybrid vehicles proliferate as expected, utilities will be able to handle the added power demand without building new plants or straining transmission power grids as long as owners plug in overnight, the New York grid manager said in a report issued on Monday.

The renewable energy mandate in the climate change bill approved by the House of Representatives last week does not go far enough for green power proponents, but the proposed national standard is likely as strong as it will get.

The United States joined the International Renewable Energy Agency (IRENA) on Monday as part of the Obama administration's commitment to developing a new energy policy, Secretary of State Hillary Clinton said.

The world's airlines lost more than $3 billion in the first quarter of 2009, the International Air Transport Association said on Tuesday, maintaining its estimate for full-year losses of $9 billion.

Stock futures pointed to a higher start on Wall Street on Tuesday, with futures for the S&P up 0.4 percent, Dow Jones futures up 0.2 percent and Nasdaq 100 futures up 0.1 percent at 5 a.m. EDT.

The MSCI world equity index looked set on Tuesday for its best quarterly gain since its 1988 launch and oil was on course for its strongest quarter since 1990, as recovery talk fired up markets in the past three months.