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Investors Scramble to Position for Expected Downgrade

Fading hopes the Congress will strike a deal in debt talks any time soon have left investors scrambling to position themselves for what many now view as an inevitable downgrade of the U.S

Manchester United: MLS All-Stars Match at Red Bull Arena (PREVIEW)

The Red Devils are in New York for a friendly match

Amazon Tablet (Android-powered Kindle?) May End iPad's Rule: Six Reasons Why

Will the new Amazon tablet will bean Android-powered Kindle?

The much-awaited tablet from Amazon, possibly an Android-powered Kindle, is expected to challenge iPad's rule in the tablet market and that's good because competition is good.

Pre-Market NASDAQ Movers (QCOR, CAMP, TSRX, RFMD, AMZN, AFFY, ILMN, PFCB, CIEN, JDSU, LVLT, VMED)

The top pre-market NASDAQ Stock Market gainers are: Questcor Pharmaceuticals, CalAmp, Trius Therapeutics, RF Micro Devices, Amazon.com, and Affymax. The top pre-market NASDAQ Stock Market losers are: Illumina, P.F. Chang's China Bistro, CIENA, JDS Uniphase, Level 3 Communications, and Virgin Media.

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Director Nick Cassavetes (L) talks with actor John Travolta during a news conference to promote the film ''Gotti:Three Generations'' in New York

Gotti movie starring Travolta slated to shoot in January

The John Gotti biopic "Gotti: In the Shadow of My Father," is set to shoot in New York beginning January 3, TheWrap has learned.

Silver medallist Peterson of U.S. poses during medals ceremony for men's aerials freestyle skiing event at Vancouver 2010 Winter Olympics

Jeret Peterson Suicide: Calls 911, Leaves Note

Olympic skiier Jeret ?Speedy? Peterson, who committed suicide Monday night, first called 911 before shooting himself, according to police.

Giants Rumors: Plaxico Burress back in New York

Free agent wide receiver Plaxico Burress has been talking to New York Giants officials about a possible return to the team, according to sources with ESPN.

U.S. singer Sheryl Crow performs on ABC's ''Good Morning America'' in New York

Singer Sheryl Crow donates her Mercedes to help Joplin

Cash is not all that is coming from generous people to Joplin, Missouri, which is struggling to recover a crippling May 22 tornado.

Only 15 Pct of New Yorkers Check Calorie Information for Fast-Food

Only 15% of people who consume fast food in New York City check the calorie information on the menus, according to a study published in British Medical Journal (BMJ).

New York challenges Defense of Marriage Act

Two days after same-sex marriage became legal in New York, the state's attorney general has taken legal action challenging the constitutionality of the U.S. law which defines marriage as between a man and woman.

Dollar, stocks slide on debt gridlock

The dollar fell broadly on Tuesday as lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined.

Pumps are seen at a gas station in Tokyo

Oil up in seesaw trading

Oil prices edged up in choppy trading on Tuesday, lifted by a weak dollar while markets were buffeted by the continued stalemate over the U.S. debt ceiling that hemmed in Wall Street.

U.S. Congressman Wu is pictured in undated official photograph

Oregon lawmaker to resign over sex scandal

Oregon Democratic Congressman David Wu, accused of an unwanted sexual encounter with a campaign donor's teenage daughter, said on Tuesday he will resign his seat to defend himself against "these very serious allegations."

NFL teams, players brace for shopping frenzy with lockout over

National Football League (NFL) teams, players and their agents braced for a flurry of fast-paced negotiations and a frenzy of deal-making as clubs returned to business on Tuesday.

A demonstrator holds placards to protest U.S. debt in front of the Capitol in Washington July 18, 2011. REUTERS/Kevin Lamarque

U.S. likely to lose top rating: economists

The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.

U.S. Postal Service to Close 3700 Offices This Year

The U.S. Postal Service (USPS) announced today a list of nearly 3,700 retail offices to be studied and potentially closed as early as November and replaced by new Village Post Offices in an effort to compensate for losses.

Bono, lead singer of Irish band U2, performs

Rock documentaries shake up Toronto film festival

Irish rockers U2 and American grunge band Pearl Jam will have the Toronto International Film Festival rocking this year, while George Clooney and Brad Pitt bring some A-List star power to the event that helps launch Hollywood's Oscar season.

U.S. Likely to Lose Top Rating, Say Economists: Reuters Poll

The U.S. will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.

Richest Nations are Also Most Depressed: Study

A new study incorporating interviews with more than 89,000 people in 18 nations revealed that 15 percent of people in high-income countries reported having been depressed, compared with 11 percent of those in low- or middle-income countries.

U.S. singer Katy Perry attends the premiere of "The Smurfs" in New York

'Smurfy' Katy Perry at 'The Smurfs' Movie Premiere and her Most Glamorous Looks [Photos]

Katy Perry, 26, went blue in a fanciful mini dress with a Smurfette printed on it, for the New York City premiere of "The Smurfs" on Sunday. She finished off her 'Smurfy' look with mini-Smurf transfers on her nails and with eyeshadow in bright blue.

Kim Kardashian Diagnosed With Psoriasis, As Her Wedding Approaches

On Sunday night's episode of ?Keeping Up With the Kardashians,? bride-to-be Kim learned the cause behind those itchy, red patches she's suffered from lately.

Recession Widens Wealth Gap Between Whites, Minorities

The recession has blown open discrepancies in wealth between white Americans and minorities, with Hispanics seeing the most precipitous decline in average household wealth, according to a Pew survey.

Wealthiest Nations Are Unhappiest: Study

Depression rates are consistently higher in more affluent countries than in low income countries, according to researchers who correlated socioeconomic data with depression levels.

Dollar, Stocks Slip on Debt Fears

The dollar fell on Tuesday as U.S. lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined.

Two McDonald"s Happy Meal with toy watches fashioned after the characters Donkey and Puss in Boots from the movie "Shrek Forever After"

McDonald's Happy Meals get apples and fewer fries

McDonald's Corp said on Tuesday it will soon tweak its children's Happy Meals, reducing the french fry portion by more than half and automatically adding apples to the popular meals, after coming under pressure from consumer groups to provide healthier fare.

Motorola bid to dismiss 3G phones lawsuit fails

Motorola Solutions Inc lost a bid to dismiss a class-action lawsuit accusing it of misleading shareholders about deteriorating prospects for its cellphone business, resulting in investment losses.