JAPAN

There will be the first Pillow Fight World Cup in New York City tonight, ever. Contenders from the U.S., Austria, Sweden, and Japan will compete for the world championship title in pillow fighting in Brooklyn, New York.

Stocks fell on Tuesday, as a disappointing outlook from Hewlett-Packard Co and another batch of soft U.S. data added to growing trepidation about the strength of the economy.

Dominique Strauss-Kahn has been arrested by US authorities for rape allegations. There is a very good chance he won’t be returning as the head of the IMF.

Higher costs for gasoline, food and clothing are crimping the fledgling economic recovery, especially for lower-income consumers, earnings reports from several retailers showed on Tuesday.

Hewlett-Packard Co slashed its full-year outlook, casting doubts about Chief Executive Leo Apotheker's turnaround plan and sending its shares down 5.4 percent.

Hewlett-Packard Co, the world's No. 1 computer maker, on Tuesday cut its financial forecasts due to problems stemming from Japan's earthquake, soft PC sales and reduced expectations for its services business.

U.S. stocks fell on Tuesday, with the Dow dropping more than 1 percent as a disappointing outlook from Hewlett-Packard Co and weak U.S. data added to growing doubts on the strength of the economy.

Housing starts and building permits fell in April and factory output slumped as an automobile parts shortage crimped production, showing the economy got off to a weak start in the second quarter.

Hewlett-Packard Co slashed its profit outlook as it boosts spending to resuscitate its troubled services business.

Japan's Olympus said on Tuesday that it would give its 2011/12 earnings outlook by the end of June and that it could pull its troubled imaging division back into profit within 12-18 months.

Housing starts and building permits fell in April and factory output slumped as automobile part shortage crimped production, showing the economy off to a weak start in the second quarter.

U.S. stocks fell on Tuesday, with the S&P 500 and the Nasdaq falling below their 50-day moving average, as a negative outlook from Hewlett-Packard Co and weak U.S. economic data raised jitters about the state of the recovery.

Wall Street was set for a slightly lower open on Tuesday, pressured by a negative outlook from Hewlett-Packard Co , the world's largest technology company, and weak U.S. housing data.

HP cut its third quarter and year-end outlook due to problems in Japan as well as softening PC sales.

The top pre-market NASDAQ Stock Market gainers are: Gulf Resources, Sino Clean Energy, Photronics, A123 Systems, and Vodafone Group. The top pre-market NASDAQ Stock Market losers are: Clean Energy Fuels, Cree, Dell, Intel, and L & L Energy.

Apple's iPhone 5 would have an 8 megapixel camera and a redesigned antenna, but it may not have feature the LTE and NFC capabilities.

Toyota Kirloskar Motor Pvt. Ltd said that it will resume normal production from May 20, a fortnight ahead of schedule after the troubled car maker had decided to cut its production by 70 percent in the wake of parts shortage arising out of the March 11 earthquake and tsunami in Japan, the company said in a statement today.

Two of Japan's top automakers are trying to accelerate their efforts to resume full production, adding to hopes that a recovery from the country's biggest earthquake on record was well on its way as the supply bottleneck eases.

Two of Japan's top automakers are trying to accelerate their efforts to resume full production, but said normal output is unlikely to happen until after the summer due to persistent shortages of parts.

The Japanese government will issue a new set of work ethics on Tuesday to bring the damaged Fukushima power plant under control by January, said reports

Japanese stocks held steady on Tuesday after early losses on signs of a slowdown in the U.S. economic recovery and oil fell for a second session as the dollar edged higher on euro debt concerns.