IBT Staff Reporter

U.S. stocks rose about 5 percent on Tuesday after Citigroup said it was profitable in the first two months of 2009 and a key lawmaker said he expects the restoration of a rule that makes it harder to bet that a share's price will fall.

Palm Inc., a mobile handset company, said Monday it will make a public offering of common stock to boosts its capital ahead of the launch of its anticipated Pre system.

Rumors that Apple laid off 50 salespeople last week has created quite a stir online prompting the company's PR to respond and deny the rumors. Meanwhile, CNET sources claim the layoffs are indeed true.

Iran's top military commander said the new U.S. administration was just as warmongering as its predecessor, but that the United States could not afford to attack Iran, an Iranian news agency reported on Tuesday.

A French bill that proposes disconnecting users from the Internet if they download music or video files illegally drew criticism Tuesday from consumer groups and opposition legislators.

Shares of General Electric Co soared 15.9 percent on Tuesday amid a broad rally in U.S. stocks triggered by assurances from Citigroup Inc that the big bank was profitable through the first two months of 2009.

Physicians at Thy-Mors hospital in Denmark and IBM have developed patient record software that uses a three-dimensional computer model of the human anatomy to visualize a patient's medical information.

Stocks jumped on Tuesday, extending strong gains after U.S. Rep. Barney Frank said he expects the SEC's uptick rule to be restored in about a month.

Shares of General Electric Co soared 15.9 percent on Tuesday amid a broad rally in U.S. stocks triggered by assurances from Citigroup Inc that the big bank was profitable through the first two months of 2009.

Dell goes ‘Ballistic’ with design for new Latitude E6400 XFR rugged laptop, which will be displayed during this week's Federal Office Systems Exposition in Washington DC.

Citigroup chief executive Vikram Pandit said the banking giant was profitable in the first two months of 2009, generating total revenue in that time of $19 billion, excluding externally disclosed marks.

China said on Tuesday that a U.S. Navy ship involved in a confrontation with its fleet off the southern island of Hainan had violated international and Chinese laws.

A breakaway Irish republican group said on Tuesday it had shot dead a policeman in Northern Ireland, the second such attack in two days on a power-sharing deal that has brought peace to the British-ruled province.

Delta Air Lines , the world's largest carrier, said on Tuesday it would cut its international capacity by an additional 10 percent starting in September as the global economic downturn batters the industry.

NEW YORK - eBay Inc is asking its stockholders to approve a one-time program to let employees exchange their underwater stock options for restricted stock units at a set ratio, according to a U.S. regulatory filing.

President Barack Obama's lifting of restrictions on federal funding for human embryonic stem cell research puts him at odds with Pope Benedict and the American Roman Catholic Church.

A suicide bomber killed as many as 33 people in an attack on tribal leaders and security officials in western Baghdad on Tuesday, officials said.

U.S. wholesale inventories fell for the fifth consecutive month in January and sales plummeted amid a slump in demand, a government report showed on Tuesday.

Stocks rose sharply on Tuesday as financials led a broad run-up from 12-year lows after reassurance from Citigroup about its performance, while investors turned hopeful about efforts to stem the economic slide.

The Dalai Lama said on Tuesday more and more Chinese were beginning to see a problem with Beijing's rule over Tibet, lamenting how the homeland he fled 50 years ago had become a hell on earth.

Boeing Co is still working toward the first delivery of its delayed 787 Dreamliner in the first quarter of 2010, and its customer financing for new orders is sufficient into next year, the planemaker said on Tuesday.

President Robert Mugabe joined mourning for Prime Minister Morgan Tsvangirai's wife Tuesday and called on Zimbabweans to end violence and support his old rival in rebuilding the shattered country.

United Technologies Corp cut its 2009 profit target by about 13 percent and said it would eliminate 11,600 jobs as it no longer anticipates an economic recovery this year.

Roche said again on Tuesday that it deemed its $93 per share offer for U.S. biotech group Genentech as fair, after a source familiar with the situation had said the two sides were in talks for a deal at a higher price.

A United Nations investigator urged U.S. allies from Britain to Pakistan on Tuesday to fully investigate whether they helped in secret renditions that led to the illegal torture or disappearance of terror suspects.

Citigroup Inc was profitable in the first two months of 2009 and is confident about its capital strength, Chief Executive Vikram Pandit said, easing concerns about the troubled bank's survival prospects.

United Technologies Corp cut its 2009 profit target by about 13 percent and said it would eliminate 11,600 jobs as it no longer anticipates an economic recovery this year.

Bernard Madoff, expected to plead guilty this week to charges of running Wall Street's biggest fraud, will appear in court on Tuesday for a judge to assess a potential conflict of interest for his lead attorney.

The International Monetary Fund warned on Tuesday that the world economy will likely contract this year in a Great Recession and African leaders said the financial crisis could undo hard-won social-economic gains.