IBT Staff Reporter

Oracle Corp reported quarterly earnings above expectations as the No. 3 software maker's profit margin hit a record thanks to robust growth in its maintenance business, sending shares up 2.7 percent.

At least three small, cash-strapped banks have stopped paying U.S. government dividends that they owe from taking part in the Treasury's Troubled Asset Relief Program, The Wall Street Journal reported late Monday.

Ford Motor Co will receive nearly $5.9 billion in U.S. government loans to build fuel-efficient vehicles as the Obama administration deepened its commitment to reshaping the cash-strapped auto industry.

The H1N1 virus continued to ravage Hong Kong as 60 new cases were confirmed on Tuesday, bringing the total rally to 408, up an astonishing 324.5% over a 10-day period since June 14.

France's air accident authority (BEA) said on Tuesday that investigator have not yet found black box of Air France 447 after a report that the French naval ships has detected signals that could be from the flight's black boxes.

A Chinese inventor has sent his patented ultrasonic flycatcher to an international organization, which he hopes will pass it on to US President Barack Obama as a gift, Xinhua reported on Tuesday.

On Tuesday, Intel Corporation and Nokia announced their strategic long term relationship to outline next generation of Mobile Computing innovation.

The U.S. dollar fell on Tuesday on speculation the Federal Reserve may attempt to keep debt costs low by reducing expectations for higher interest rates at the conclusion of its meeting on Wednesday.

Oracle Corp. reported that net income earnings fell 7 percent in the fourth quarter, while operating margins rose to 42 percent, with income impacted by the reduced value of foreign currencies when compared to U.S. dollars, the company said Tuesday.

Social network MySpace Inc. announced Tuesday it will close at least four overseas offices and slash its overseas workforce by 300 employees.

Supreme Leader Ayatollah Ali Khamenei has accepted a request by Iran's top legislative body to extend the deadline by five days for receiving and looking into election complaints, state television said on Tuesday.

Oracle Corp's quarterly earnings beat market expectations as profit margins hit a record high and software sales fell less than anticipated, sending its shares up 2.5 percent.

President Barack Obama toughened his criticism of Iran on Tuesday for its crackdown on anti-government protesters, harshly condemning the violence and declaring scenes of death in Tehran heartbreaking.

U.S. stocks were nearly flat on Tuesday while the dollar slipped against its two top rivals, while crude oil futures and Treasuries rose.

The S&P 500 rose on Tuesday as investors hunted for bargains a day after a steep sell-off, but another delay for Boeing's 787 Dreamliner kept the Dow in the red.

Sales of previously owned U.S. homes rose for a second straight month in May but were weaker than expected, adding to growing fears of an anemic economic recovery from a deep recession.

Oracle Corp reported earnings above expectations on Tuesday as the world's No. 3 software maker's profit margin hit a record and software sales fell less than analysts had projected.

U.S. securities regulators are considering shortening a money market fund's maturity limits to protect investors after last year's sudden losses in industry pioneer Reserve Primary Fund, a source familiar with the agency's thinking said on Tuesday.

U.S. limousine companies are laying off workers and closing offices as the recession cuts into demand for the shiny black symbols of wealth and power.

The number of mass layoffs by U.S. employers rose last month to tie a record set in March, according to government data released on Tuesday that suggested the labor market has yet to stabilize.

Consumers, insurance companies and the federal government spend an extra $3.5 billion for prescription drugs every year because brand-name companies pay generic producers to stay out of the market, the head of the U.S. Federal Trade Commission said on Tuesday.

Intel Corp announced a technology partnership with Nokia that could potentially give the chip maker the breakthrough it has been looking for into the mobile market.

Boeing on Tuesday postponed the first test flight of its 787 Dreamliner for a fifth time, citing a structural problem that marked the latest blow to the credibility of the No. 2 planemaker and sent its shares tumbling 9 percent.

Home resales rose again in May, the first back-to-back monthly gain since September 2005 due to historically low mortgage rates and a first-time buyer tax credit, the National Association of Realtors reported on Tuesday.

A survivor who was riding in the very front of the commuter train that collided into a train that was still in Washington D.C. on Monday said the train's driver had told passengers there was a train ahead.

Oil rose nearly 2 percent on Tuesday as the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.

A German court ruled Tuesday that schoolchildren may rate their teachers online, rejecting the case of a woman who argued her rights had been infringed by pupils who gave her bad grades on a popular website.

The United States and European Union on Tuesday began a case against China at the World Trade Organization over its export restrictions on industrial raw materials, saying Beijing was trying to tilt the playing field in favor of its own industries.

The Brazilian real estate market is booming again after fizzling at the end of last year as sales have rebounded in one of the best emerging markets, a New York-based real estate private equity investor said in an interview on Tuesday.