IBT Staff Reporter

Yahoo Inc said it would cut 5 percent of its workforce worldwide after reporting quarterly profit that met Wall Street expectations.

Delta Air Lines Inc and United Airlines said Tuesday its first-quarter loss beat analysts’ estimates in spite of fuel prices and slowing travel demand, sending shares up in morning trading.

The U.N. rolled out a new website on Tuesday that offers free access to rare manuscripts, books, films and map ranging from 8,000 old paintings to recent books.

Kansas City Federal Reserve Bank President Thomas Hoenig bluntly rejected the argument that any troubled banks are too big to fail at the congressional Joint Economic Committee on Tuesday.

The Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said.

Emulex Corp. shares surged Tuesday after chipmaker Broadcom Corp. made a $763.5 million unsolicited buyout offer.

U.S. manufacturing bellwethers Caterpillar Inc and United Technologies Corp reported on Tuesday that falling global demand for their big-ticket products battered first-quarter results.

MUZU.TV, an Irish-based video website which has won plaudits from the music industry for the way it pays artists when their music is played online, has signed a deal with the world's largest label Universal.

Bank of New York Mellon Corp and Northern Trust Corp , two large U.S. custodial banks, reported disappointing profit as declines in client assets depressed fees, while State Street Corp topped forecasts.

Oracle is going to cut jobs in an effort to make its Sun Microsystems Inc acquisition profitable, according to analysts.

President Barack Obama left the door open on Tuesday to prosecuting some U.S. officials who laid the legal groundwork for harsh interrogation of terrorism suspects during the Bush administration.

French Electricite de France S.A. (EDF) has been approved to acquire three nuclear power plants in New York for $4.5 billion, the New York State Public Service announced Tuesday.

Fiat is totally focused on clinching a deal with U.S. car maker Chrysler LLC, a source close to the Italian industrial group said, even though top executives have said there are alternatives.

Stocks rose on Tuesday after U.S. Treasury Secretary Timothy Geithner said the vast majority of banks are well capitalized, soothing worries over the need for the struggling sector to raise more money.

Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.

The U.S. Defense Department is taking back responsibility for billions of dollars in pay and benefits for veterans, a task handled since 2002 by Lockheed Martin Corp, the Pentagon's No. 1 contractor by sales.

Raser Technologies Inc. unveiled Monday a new plug-in hybrid extended-range electric vehicle technology able to transform a variety of full-sized SUV's including the Hummer, and light trucks into some of the cleanest vehicles.

On Tuesday, VMware, Inc. announced the vSphere 4, which the company called the first operating system for building the internal cloud.

Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.

A teenager Somali pirate arrived to face court hearing Tuesday in New York what are believed to be the first piracy charges in the United States in more than a century.

Vestas (VWS.CO: Quote, Profile, Research), the world's biggest wind power equipment producer, plans to produce 800 of its new V60-850 kilowatt units per year at its new factory in Inner Mongolia once it goes into full operation in a year's time, Lars Andersen, the company's China president, said on Tuesday.

The Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said.

Fiat is totally focused on clinching a deal with U.S. car maker Chrysler LLC , a source close to the Italian industrial group said, even though top executives have said there are alternatives.

Oracle is going to cut jobs in an effort to make its Sun Microsystems Inc acquisition profitable, according to analysts.

Citigroup Inc Chief Executive Vikram Pandit said he expects the No. 3 U.S. bank to rebound from its current woes and pledged that it would repay every dollar it owes to the U.S. government.

Treasury Secretary Timothy Geithner said on Tuesday that most U.S. banks have enough capital to keep lending but a pile of bad debts is fostering doubts about their health and slowing a recovery.

Treasury Secretary Timothy Geithner said on Tuesday that most U.S. banks have enough capital to keep lending but a pile of bad debts is fostering doubts about their health and slowing a recovery.

Citigroup Inc Chief Executive Vikram Pandit said he expects the No. 3 U.S. bank to rebound from its current woes and pledged that it would repay ever dollar it owes to the U.S. government.

President Barack Obama on Tuesday urged Israel and the Palestinians to step back from the abyss, saying he expected good faith gestures from both sides in coming months as part of a bid to revive stalled peace efforts.