UNITED STATES

The Federal Reserve on Tuesday began a two-day meeting where it is expected to restate its intention to keep interest rates on hold near zero for an extended period and perhaps offer a less upbeat outlook for the economy.

JPMorgan Chase & Co reshuffled three top executives, including its chief financial officer, as part of an effort to ensure a deep bench of executives who could eventually succeed CEO Jamie Dimon.

Barclays Plc's President Robert Diamond said on Tuesday that Lehman creditors fared better under his bank's purchase of Lehman Brothers core U.S. brokerage business than they would have if the assets had been sold on the open market.

JPMorgan Chase & Co said on Tuesday that it had replaced Chief Financial Officer Michael Cavanagh with Doug Braunstein, the company's head of investment banking for the Americas.

Taxpayer losses from the U.S. government's $700 billion financial bailout fund will likely come in below the officially projected $105 billion as the economy recovers, U.S. Treasury Secretary Timothy Geithner said on Tuesday.

U.S. automakers oppose raising the blend of ethanol in gasoline from the current 10 percent, saying cars won't run as well on higher blends, but Brazil's experience shows their arguments are weak.

Blunt, brash, brainy and occasionally self-mocking. Larry Summers, the White House economic adviser, is all of these things. In a career spanning academia, government and finance, he has rubbed some people the wrong way and infuriated others.

Technology shares led Wall street higher on Tuesday after upbeat brokerage comments on Apple Inc, but a report showing an unexpected fall in existing-home sales last month tempered gains.

Walgreen Co , the biggest U.S. drugstore chain, posted a lower-than-expected quarterly profit as sales of nonprescription items disappointed, sending its shares down 6.1 percent.

Weak May U.S. housing data undercut stocks and sent U.S. Treasuries up, while Europe grappled with a fresh tremor to its banking system after Fitch downgraded French bank BNP Paribas (BNPP.PA).

The rich grew richer last year, even as the world endured the worst recession in decades.

Germany, France and Britain announced plans on Tuesday to introduce a bank levy to help meet the costs of the financial crisis, without waiting for a G20 summit this week, underscoring a rift with key partners.

Crude oil fell below $78 per barrel on Tuesday as shares retreated and on expectations that a slow rise in China's currency would have a more limited impact on global demand than initially anticipated.

Research in Motion investors want to know one thing above all when the BlackBerry maker reports quarterly results this week: when will RIM's long-promised iPhone killer finally hit the market?

Stocks were little changed on Tuesday after data showed sales of previously owned U.S. homes fell unexpectedly in May.

Costs for the emergency bank bailout program launched during the 2007-2008 financial crisis continue to fall as the U.S. economy recovers, Treasury Secretary Timothy Geithner told Congress on Tuesday.

Walgreen Co , the biggest U.S. drugstore chain, posted a lower-than-expected quarterly profit as sales of nonprescription items disappointed, sending its shares down nearly 5 percent.

Wall Street was set for a flat open on Tuesday as investors reassessed a vow by China for more flexibility on its currency and tread cautiously ahead of data expected to show a slight rise in U.S. home sales last month.

Gold edged up in Europe on Tuesday as lower prices drew investors back to the market and expectations that gold's appeal as a refuge from risk will persist acted as a pillar of support for the metal.

Stock index futures dipped on Tuesday as investors reassessed a vow by China for more flexibility on its currency and turned cautious ahead of data expected to show a slight rise in U.S. home sales.

The Chinese yuan slipped on Tuesday, giving back more than half the previous day's rally,with hefty dollar buying by state-owned banks suggesting the central bank was using new tactics to stir two-way trade and limit yuan gains.