IBT Staff Reporter

Morgan Stanley announced the promotion of 210 employees to managing director on Tuesday, a smaller lot than the previous year as the Wall Street bank's overall workforce shrank.

The euro zone debt crisis is escalating and could derail the global economic recovery, the International Monetary Fund warned on Tuesday as it called for urgent action to restore confidence.

What do Nobel Prize-winning development economist Amartya Sen and IMF chief Christine Lagarde have in common? They both oppose the prevailing orthodoxy that all heavily indebted governments must cut their way back to prosperity as soon as they can.

Normally, signs warn drivers to slow down for SCHOOL X-ING. But on one street on the Lower East Side, they are warned about SHCOOL X-ING. The embarrassing typo has gone unfixed since last summer.

The euro zone is inching closer to breaking its long-held taboo against a Greek default, but can still escape financial market mayhem and a body blow to the euro.

About one in five workers around the globe, particularly employees in the Middle East, Latin America and Asia, telecommute frequently and nearly 10 percent work from home every day, according to a new Ipsos/Reuters poll.

Rick Santorum would urge his daughter not to get an abortion if she were raped, the Republican presidential candidate has told CNN's Piers Morgan.

McDonald's Corp reported stronger-than-expected December sales, but its shares fell on investor concerns that quarterly profit may have beat expectations only because of income that was not related to its operations.

The new leader at Research In Motion on Monday dismissed talk of drastic change at the BlackBerry maker, a declaration seized on by impatient investors who say Thorsten Heins has only 12 to 18 months to turn RIM around.

DuPont's quarterly revenue missed Wall Street expectations as a sharp drop in demand, especially for solar and electronic materials, offset higher prices.

Verizon Communications profit missed Wall Street expectations by a penny as its wireless business was hit by the high costs of sales of advanced phones such as the Apple Inc iPhone.

Greece's private creditors pleaded Tuesday with European officials who rejected their bond swap offer to hammer together a deal before Athens tumbles into a chaotic default.

EU finance ministers and officials met on Tuesday to discuss a new treaty which aims to tighten fiscal discipline in the euro zone.

Stocks fell on Tuesday as talks to resolve Greece's debt crisis stumbled again and analysts pointed to a short-term top in equity markets after the S&P 500 posted five days of back-to-back gains.

Former Gov. Mitt Romney paid $3 million in federal taxes on 2010 income of $21.7 million in 2010. That means his effective income tax rate was 13.9 percent -- lower than what the vast majority of wealthy Americans pay.

Verizon Communications posted a quarterly loss due to a non-cash pension charge and high costs from strong sales of the Apple Inc iPhone.

Greece was clinging on Tuesday to hope of a last-minute bond swap deal to avoid a messy default after euro zone officials sent talks back to square one by rejecting a final offer from the country's private bondholders.

Investors buoyed by a European Central Bank backstop flocked to a sale of Spanish short-term debt on Tuesday, buying three- and six-month paper at sharply lower yields to give a shot in the arm to the country's ambitious deficit-reduction program.

Stock index futures fell on Tuesday as talks to resolve Greece's debt crisis stumbled again and analysts pointed to a short-term top in equity markets after the S&P 500 posted five days of back-to-back gains.

McDonald's Corp reported quarterly profit that beat analysts' estimates as sales, which were already outpacing competitors, picked up strength in December.

Stock index futures fell on Tuesday as talks to resolve Greece's debt crisis stumbled again and analysts pointed to a short-term top in equity markets after the S&P 500 posted five days of back-to-back gains.

Netflix Inc probably would like nothing better than to put 2011 behind it. But 2012 may be no walk in the park either.

The euro zone may escape recession thanks to a surprise upturn in the service sector this month but the overall economy is still struggling to gain any traction outside Germany and to a lesser extent France, surveys showed on Tuesday.

Megaupload founder Kim Dotcom's online profile was larger-than-life, with fast women, faster cars and chartered planes, yet he lived like a virtual recluse in a sprawling, manicured estate on the outskirts of New Zealand's biggest city, Auckland.

Loss-making European publisher Mecom is to slash costs, review assets and charge customers to access content online as it fights to revive a business hit by falling advertising sales and changing readership trends.

Stock index futures fell on Tuesday as talks to resolve Greece's debt crisis stumbled again and analysts pointed to a short-term top in equity markets after the S&P 500 posted five days of back-to-back gains.

Apple again lost a bid on Tuesday to have Samsung tablet computers banned in the Netherlands in a Dutch appeals case over infringing copyrights of its iPad tablet computer.

Playtech, the world's biggest provider of online gaming software, is holding talks with a number of potential partners in the United States as it gears up for the possible re-opening of the potentially lucrative market, CEO Mor Weizer said.

Signs the euro zone's weak economy may have turned a corner gave a brief lift to the single currency in choppy trading on Tuesday, but worries over the setback in Greek debt talks, seen as vital for avoiding a messy default, weighed on sentiment.