IBT Staff Reporter

Johnson & Johnson said on Tuesday its quarterly earnings fell, hurt by generic competition for its Risperdal schizophrenia drug and the strong dollar, but lower costs enabled the company to beat Wall Street expectations

Australia's energy supply network will need almost A$100 billion ($72 billion) in refinancing and new spending over the next five years as it grapples with reducing greenhouse gas emissions, according to an industry survey released on Tuesday.

An international orchestra of some 90 musicians who auditioned on the YouTube video-sharing Web site will perform at New York's Carnegie Hall on Wednesday after rehearsing together for three days.

Chrysler LLC's first-lien lenders are preparing a counter-offer for the U.S. Treasury that might include equity in a Chrysler-Fiat alliance and some cash in exchange for abandoning their claim to some $7 billion in debt, sources with knowledge of the matter said.

North Korea has asked the International Atomic Energy Agency(IAEA) inspectors to leave the country Tuesday as soon as possible.

The Google-sponsored Android mobile Linux project has released a rough-hewn Early Look version of the Android 1.5 SDK.

Stocks tumbled on Tuesday as an unexpected drop in March retail sales suggested that the economic slump was far from abating and as Goldman Sachs slid sharply after a stock offering.

A recent study has confirmed the obvious that college students who spend more time on Facebook had lower GPAs and put them at risk of failing.

Stocks extended losses on Tuesday as worries about consumer spending were stoked by an unexpected drop in retail sales and investors sold off financial shares.

Citigroup Inc shares surged to a three-month high on Tuesday on expectations of strong quarterly results, one day after Goldman Sachs Group Inc posted surprisingly strong earnings.

The Obama administration is expected to name Fannie Mae Chief Executive Herb Allison to head the U.S. government's $700 billion financial rescue program, a source familiar with the matter said on Monday.

Philips Electronics, Europe's largest consumer-electronics company, on Tuesday kicked off the European earnings season on a downbeat note, saying it swung to a first-quarter loss as demand for its lighting and consumer products waned.

Discover Financial Services , the fourth-largest U.S. credit card network, will cut 500 jobs, or 4 percent of its workforce, in May, hurt by mounting credit losses, the company said on Tuesday.

Luton Airport has introduced more charges for what it calls ‘additional services’, including dropping off passengers at the terminal and jumping security queues.

North Korea vowed Tuesday to restore its nuclear facilities and boycott the six-party talks on its atomic weapons program to protest criticism and condemnation from U.N. Security Council for its recent rocket launch.

Oil erased an earlier gain to trade near $50 a barrel on Tuesday after weak U.S. economic data refocused attention on falling global oil demand and forecasts for rising U.S. supplies.

Sales at U.S. retailers unexpectedly fell 1.1 percent in March after rising for two straight months, government data showed on Tuesday, dimming hopes the 16-month-old recession was close to hitting bottom.

The European Commission started legal action against Britain on Tuesday for what it called a failure to keep people's online details confidential.

U.S. Federal Reserve Chairman Ben Bernanke said Tuesday the latest figures on housing and consumer spending suggest a rapid contraction in the economy could be easing.

Text messages may allow worshippers in Finland to donate money to their church without having to attend services.

More U.S. chief executives got pay raises than had their pay cut in 2008, a year when billions in taxpayer dollars went to prop up struggling companies and millions of workers lost jobs, according to an AFL-CIO survey released on Tuesday.

President Barack Obama's lifting of U.S. curbs on family travel and remittances to Cuba will bring divided families closer and supplement stressed budgets on the island, Cubans and Cuban Americans said on Monday.

More than 8,000 Philippine and United States troops began annual war games this week, underscoring their strong security ties despite controversy over the conviction of a U.S. Marine on rape charges.

Hungary's parliament endorsed Gordon Bajnai as prime minister on Tuesday, giving the political independent a mandate for austerity measures aimed at reviving an economy kept afloat by an IMF-led bailout.

A Hong Kong student union is holding a student vote on whether China should apologize for its crackdown on pro-democracy protesters in and around Beijing's Tiananamen Square 20 years ago in which hundreds were killed.

Deere & Co said it would combine its main worldwide agricultural equipment division with its smaller commercial and consumer equipment unit to reduce costs, starting on May 1.

Iran's president, Mahmoud Ahmadinejad, will attend next week's United Nations conference on racism in Geneva, a U.N. spokeswoman said on Tuesday.

An Iranian-American journalist has gone on trial in Iran for spying for the United States and a verdict is expected soon, the judiciary said on Tuesday.

Thai anti-government protesters in Bangkok surrendered on Tuesday, giving the harried prime minister some breathing space to try to fix the worsening economy.