IBT Staff Reporter

Rio Tinto dropped as much as 5 percent, tracking its London shares lower, on growing speculation the global miner is set to launch a rights issue instead of selling $19.5 billion in stock and assets to China's Chinalco aluminum group.

Chrysler's bankruptcy may take as long as two years, instead of the two months that President Barack Obama suggested as a target, Bloomberg said, citing an administration official.

The Obama administration has commenced discussions on an initiative to change compensation practices in the financial-services industry, even at companies that were not recipients of federal bailout money, the Wall Street Journal said, citing people familiar with the matter.

IBM Corp is set to begin selling a long-awaited software aimed at helping companies analyze real-time data, ranging from traffic data to manufacturing processes, to find more efficient ways to run their business.

The U.S. dollar fell to a four-month low on Wednesday as optimism about a global recovery and concerns about U.S. fiscal health reduced its safe haven appeal, while oil held near $60 a barrel on hopes for more energy demand as inventories tighten.

Intel Corp's orders and billing patterns so far in the second quarter have been slightly better than expected, the chief executive of the world's largest chip maker said on Tuesday.

A second person pleaded guilty in a kickback scandal involving New York state's $122 billion pension fund, Attorney General Andrew Cuomo said on Tuesday.

Intel chief executive Paul Otellini said on Tuesday that the firm’s order and billing patterns in the current quarter are doing better than expected.

Ford Motor Co said on Tuesday that it raised $1.4 billion through a 300 million share offer for $4.75 per share, a move that its chief executive said was an important step toward getting profitable again.

Former U.S. Treasury official John Taylor said Tuesday the Federal Reserve may have to raise interest rates soon.

The International Monetary Fund (IMF) has urged European banks to be subjected to so-called stress tests to help restore confidence in the banking system.

Shareholders in Sprint Nextel Corp voted on Tuesday to give holders of 10 percent of shares outstanding the power to hold a special meeting, indicating they wanted a stronger voice.

All electric automaker Tesla Motors said Tuesday the number of reservations for its Model S car has exceeded the company's expectations hitting 1,000 units over the weekend, according to a company spokeswoman.

The chief executive of Pacific Investment Management Company LLC expects “muted growth” in the next three to five years, in the wake of major changes to the world’s financial system and a shift to greater government regulation.

The world's largest chip equipment maker, Applied Materials Inc , posted a quarterly loss as cost cuts failed to fully offset a steep drop in revenue, and its shares fell 2.5 percent.

The two drugs used to treat the influenza should be used carefully and only when needed for the chronically ill, pregnant women and other vulnerable patients, global health officials said on Tuesday.

Freddie Mac, after battling plummeting home prices and a shaky economy, is seeking a $6.1 billion investment from the U.S. Treasury after reporting a first quarter losses.

The United States won election to the U.N. Human Rights Council for the first time on Tuesday, joining 17 other nations picked for the body, after the Obama administration ended a U.S. policy of boycotting it.

The Federal Deposit Insurance Corp is talking with lawmakers about speedy legislation giving it power to wind down troubled bank holding companies, but not a broader range of financial firms.

Eight hundred of Chrysler’s 2,400 dealers will be dropped and finance agreements will be renegotiated according to dealers who participated in a conference call with a lawyer, the Detroit Free Press reported.

The International Monetary Fund (IMF) forecasted Monday that the severe economic downturn for the Euro Zone could end during the second half of 2010, but further policy actions especially in the financial sector will be essential to induce this recovery.

For all who claim that rampant inflation is up next, and home price deflation is over, I present the following charts for readers to ruminate on just how much higher existing home sales inventories are relative to some semblance of a trendline, in addition to a long-term chart comparing CPI with the median home price.

The Australian Dollar opens higher than this time yesterday at 0.7646 as the US trade deficit for March came in less-than-expected diminishing demand for safe havens and prompting traders to move back into higher yielding assets.

A U.S. soldier suspected of shooting dead five fellow servicemen at a military clinic in Baghdad was charged with five counts of murder on Tuesday, the U.S. military said.

Apple released the seventh point update to Mac OS X 10.5 Leopard on Tuesday, which has over more than 20 bug fixes.

The U.S. reported the first April budget deficit in over 25 years, specifically $21 billion on a significant drop in individual and corporate tax receipts.

A White House memo released Tuesday challenged an Environmental Protection Agency ruling that could result in the regulation of greenhouse gases because it could have severe consequences for the U.S. economy.

The United States posted its first April deficit in 26 years, a record $20.91 billion shortfall as a deep recession caused revenues to collapse in the year's biggest tax collection month, the U.S. Treasury said on Tuesday.

Intel Corp's orders and billing patterns so far in the second quarter have been slightly better than expected, Chief Executive Paul Otellini said on Tuesday.