BUSINESS

Small businesses created 55,000 jobs in December and increased working hours for employees, further evidence the labor market was strengthening.

Prosecutors accused three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities, and sources briefed on the matter said the three worked for Wegelin & Co, one of Switzerland's oldest private banks.

Business software maker Progress Software Corp forecast first-quarter earnings below analyst expectations, as some of its customers continue to delay investments amid macroeconomic uncertainties, sending its shares down as much as 9 percent in trading after the bell.

U.S. prosecutors accused three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities, and sources briefed on the matter said the three worked for Wegelin & Co, one of Switzerland's oldest private banks.

A New York state judge made it easier for the bond insurer MBIA Inc to pursue its $1.4 billion lawsuit accusing Bank of America Corp's Countrywide Financial unit of fraudulently inducing it to insure risky mortgage-backed securities.

There are countless celestial bodies deep inside of Cosmos, which stimulate our imagination. Here are two images released by NASA, which reflect the fight between the Good and Evil in space - and they are both watching us from far, far away.

The world's largest bond fund had $1.4 billion in outflows in December, according to fund analytics firm Morningstar.

Groupon Inc shares fell more than 6 percent on Tuesday on concern the company may not have as many daily deals to offer due to some merchants pulling back.

Rambus Inc raised its fourth-quarter revenue outlook, despite losing a major lawsuit late last year, sending its shares up 10 percent in early trading Tuesday.

U.S. regulators have only met roughly a quarter of pre-2012 deadlines included in the controversial Dodd-Frank financial reform law, according to a report released on Tuesday.

The world's largest bond fund had $1.4 billion in outflows in December, according to fund analytics firm Morningstar.

Starbucks Corp raised prices by an average of about 1 percent in the U.S. Northeast and Sunbelt on Tuesday, making coffee-drinkers spend more in New York, Boston, Washington, Atlanta, Dallas, Albuquerque and other cities.

Chrysler on Monday announced and released photos of the 2012 Dodge Charger Redline, which the company will debut next week at the 2012 North American Auto Show in Detroit.

Teva Pharmaceutical Industries' new chief executive is set to shift the company's focus to branded drugs from generics as he imports a successful strategy of making mid-sized deals from Bristol-Myers Squibb .

Hoping for something better than 2011's flat stock market, U.S. investors pushed shares higher on Tuesday to begin the new year, though questions remain about whether a rally can be sustained.

Manufacturing grew at its fastest pace in six months in December, capping a late-year upswing, but a European slump and rising oil prices posed threats to the U.S. economy in the new year.

The board of UniCredit , Italy's biggest bank by assets, will discuss on Wednesday the terms of a 7.5 billion euro capital increase aimed at shoring up its financial strength, a source close to the bank told Reuters.

3M Co will expand its office supplies business with the $550 million cash purchase of Avery Dennison Corp's office and consumer products unit, which includes Avery labels and HI-LITERS markers, the companies said on Tuesday.

Wall Street stocks kicked off 2012 with a rally on Tuesday after data showed U.S. manufacturing activity and construction spending picked up, signaling the economic recovery was gaining steam.

Manufacturing activity picked up nationwide in December, with new orders and employment improving, according to a national survey of purchasing managers.

Construction spending surged to a near 1-1/2 year high in November as investment in public and private projects rose solidly, cementing expectations of

Manufacturing grew at the fastest pace in six months in December, capping a late-year rally in the sector, while a rise in new orders suggested good momentum in 2012, an industry report showed on Tuesday.

Billionaire hedge fund manager Philip Falcone's LightSquared Inc on Tuesday named telecommunications veteran Marc Montagner as chief financial officer, replacing Michael Montemarano.

Pressure grew on Hungary to change its policies to satisfy international lenders on Tuesday after bond yields jumped above 10 percent and the European Commission told the government to safeguard the central bank's independence.

Wall Street stocks kicked off 2012 with a sharp rally on Tuesday after data showed U.S. manufacturing activity and construction spending picked up, signaling the economic recovery was gaining steam.

Wall Street stocks were set for a sharply higher open on Tuesday as upbeat Chinese and German data boosted optimism about the global economy after the S&P 500 index ended flat in 2011.

BP has called on contractor Halliburton to pay all costs and expenses it incurred to clean up the 2010 Gulf of Mexico oil spill, which the oil major previously put at around $42 billion.

Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500, Dow Jones futures and Nasdaq 100 futures up 1.1 to 1.9 percent at 6 a.m. EST.

Banks cut their intake of one-week European Central Bank funding by just under 15 billion euros on Tuesday, as they continued to readjust their borrowing needs having recently gorged themselves on the ECB's first ever offering of three-year cash.