IBT Staff Reporter

Texas cardiologist, James Rohack was on Tuesday inaugurated as president of the American Medical Association in Chicago.

A123Systems, Inc, EnerDel, Inc, Angstrom Materials, LLC, Max Power, Inc and three other organizations were granted funds from the U.S. Department of Energy on Tuesday for research projects to develop advanced batteries for electric vehicles.

Energy leaders across the Americas gathered in Lima, Peru, at the Americas Energy and Climate Symposium,- which concluded today- to commit in taking concrete actions to reduce carbon emissions from the region.

The Obama administration plans to merge two banking regulators and create a federal watchdog on consumer financial products as part of a sweeping reform plan to be formally unveiled on Wednesday.

The White House on Tuesday dashed hopes that the federal government would help California overcome a mammoth budget crisis that has brought the state dangerously close to an economic meltdown, saying the state will have to solve the problem on its own.

Xbox Live will be down on Tuesday, June 16, for service maintenance for up to 24 hours.

Forget passwords, Apple’s iphone supports voice recognition that is as unique as a fingerprint, which enables your mobile safe for your personal secrets.

The powerful tax-writing House of Representatives Ways and Means Committee aims to have proposals to raise revenue by Friday to help pay the trillion dollar tab expected to be needed for broad health reform, Chairman Charles Rangel said on Tuesday.

Searching photos over the net is not that easy, with users often falling on results they aren’t looking for, but now a new tool called Photobucket powered by Microsoft Silverlight hopes to get users to the photos they’re looking for fast.

Sweden's Koenigsegg, a niche manufacturer of some of the world's fastest and most expensive sports cars, has struck a deal to buy loss-making Saab Automobile from General Motors Corp, the companies said on Tuesday.

Adobe Systems Inc, the maker of Photoshop and Acrobat software, posted the narrowest profit margin in more than 3 years, disappointing investors even though its revenue fell less than analysts had feared.

A U.S. Senate panel proposal to expand healthcare coverage would increase the federal deficit by about $1 trillion over 10 years and still leave millions without insurance, a congressional analysis said on Monday.

Barclays' board has recommended shareholders accept a $13.5 billion cash and shares offer from U.S. fund manager BlackRock for its Barclays Global Investors business, the British bank said on Tuesday.

Maurice Hank Greenberg, former chief executive of insurer AIG, avoided direct answers in court testimony on Tuesday about a large block of AIG stock given decades ago to a private company he runs.

Adobe Systems Inc., the largest maker of graphic-design programs, reported a 41 percent drop in second-quarter profit, lower than analyst’s expectations, after the economy soured the demand from advertising customers.

The Obama administration on Tuesday said it will back repealing a hard-to-enforce tax on personal use of work cell phones, appeasing the business community, phone makers and users.

Adobe Systems Inc, the maker of Photoshop and Acrobat software, reported a quarterly revenue drop that was not as steep as Wall Street analysts had feared and its profit came in line with forecasts.

General Motors Corp. customers are expected to keep the recent trend of improving monthly car sales alive in June, Chief Executive Officer Fritz Henderson said on Tuesday.

Large U.S. corporate bankruptcies have accelerated in recent weeks as the U.S. economic slowdown claims more victims, according to industry data.

U.S. President Barack Obama and South Korean President Lee Myung-bak presented a united front to North Korea on Tuesday, saying Pyongyang must abandon its nuclear weapons program and will not be rewarded for provoking a crisis.

The leaders of the world's biggest emerging powers, Brazil, Russia, India and China meet this week for their first formal summit, seeking ways to reshape the global financial system after the worst economic crisis in decades.

U.S. stocks slipped on Tuesday as mixed economic data and Best Buy's disappointing sales spurred worries about an anemic recovery.

Western Digital on Tuesday said it has begun shipping its new SiliconDrive SATA/PATA SSDs with higher speeds, reliability and capacities for Embedded Systems and Data Streaming Applications design for OEMs.

Supporters of defeated Iranian presidential candidate Mirhossein Mousavi posted defiant messages on Twitter on Tuesday, calling for a second banned pro-Mousavi rally to go ahead and offering security updates.

Kim Jong Un, the youngest son of North Korean leader Kim Jong-il, secretly visited China last week and met with President Hu Jintao, Japan's Asahi newspaper reported on Tuesday.

Research In Motion is adding another smartphone to its BlackBerry lineup as it aims to win market share among both executives and mainstream consumers despite tough economic conditions.

MySpace, the social network owned by Rupert Murdoch's News Corp, said it will cut its staff by 30 percent to lower its cost as it struggles to maintain its popularity in the face of rising competition.

President Barack Obama pledged on Tuesday to pursue major changes in U.S. financial regulation, but warned it will be a heavy lift politically with special interests already offering opposition.

Sales of Palm Inc's closely watched Pre mobile phone are running on track with -- and exceeding some -- Wall Street expectations after just over one week in stores.