IBT Staff Reporter

Investors have dramatically raised their bets that the U.S.

U.S. stocks on Tuesday extended losses from a bruising previous session in which the S&P 500 confirmed a bear market as investors braced for an aggressive interest rate hike by the Federal Reserve this week.

U.S. stocks extended losses on Tuesday, after a bruising selloff a day earlier pushed the S&P 500 to confirm a bear market, as investors braced for an aggressive interest rate hike from the Federal Reserve this week.

U.S. stocks were set for a rebound on Tuesday after a bruising selloff a day earlier pushed the S&P 500 to confirm a bear market, with investors taking relief from a smaller-than-expected rise in core producer prices.

China's army of small, privately owned oil refiners are raising output on hopes of recovering fuel demand as COVID-19 curbs ease and refining margins swell due to an increasing supply of cheap Russian oil, traders and analysts said.

Takeover target Spirit Airlines Inc on Tuesday said it was in talks with JetBlue Airways Corp over a $3.4 billion sweetened offer and expects to decide on the proposal this month.

Continental Resources Inc said on Tuesday it received an all-cash offer from billionaire-founder Harold Hamm's family trust, a deal which could take the U.S.

European leaders visit Ukraine in show of support

Germany is struggling to find a way to wrest control of a Russian-owned refinery that supplies most of Berlin's fuel, four people close to the matter said, fearing retaliation by Moscow if the site is nationalised and as Western firms hesitate to step in.

World oil demand growth will slow in 2023, OPEC delegates and industry sources said, as surging crude and fuel prices help drive up inflation and act as a drag on the global economy.

Denmark and Canada will divide small, uninhabited Hans Island in the Arctic, eding an almost 50-year ownership spat, in a largely symbolic act of diplomacy designed to avoid tensions in the high North.

European Union financial services chief Mairead McGuinness on Tuesday urged the bloc's lawmakers to agree on bank capital rules to keep the sector resilient as it emerges from the pandemic and markets fragment due to war in Ukraine.

Republican U.S. Representative Tom Rice, who voted to impeach Donald Trump after the Jan.

Republican U.S. Representative Tom Rice, who voted to impeach former President Donald Trump after the Jan.

Britain and Falklands mark 40 years since Argentine surrender

Russia's invasion of Ukraine is triggering shifts in the smuggling routes for illegal drugs to Europe, the EU drugs agency warned on Tuesday.

Russia's invasion of Ukraine could create "new vulnerabilities" in Europe to illegal drugs by triggering shifts in smuggling routes and potentially exposing more people to narcotics, the Lisbon-based EU drugs agency warned on Tuesday.

Rich countries have made a dangerous dash for fossil fuels in response to the Ukraine war, the U.N.

Monte dei Paschi di Siena has named veteran UniCredit executive Andrea Maffezzoni as its new chief financial officer as it prepares to present a new strategic plan next week, the state-controlled bank said on Tuesday.

India's military is overhauling its recruitment process for personnel below officer rank, aiming to deploy fitter, younger troops on its front lines, many of them on shorter contracts of up to four years, defence officials said on Tuesday.

U.S. software developer MicroStrategy Inc said it has not received a margin call against a bitcoin-backed loan and can withstand further volatility, soothing market jitters after the token's slide raised fears of asset liquidation.

MicroStrategy CEO Michael Saylor said on Tuesday the software firm was capable of withstanding volatility in bitcoin prices after the token slumped to levels that triggered fears of possible liquidation on its leveraged position.

Bitcoin neared a price level on Tuesday that could force software firm MicroStrategy Inc to add more tokens against a bitcoin-backed loan or trigger selling some of its vast holdings, setting fragile cryptocurrency markets on edge.

The Swiss National Bank will keep its negative policy interest rate unchanged on Thursday and will not raise it to zero until early next year, according to a majority of economists polled by Reuters, despite the highest inflation in 14 years.

Famed Hong Kong floating restaurant towed away after half a century

Two influential proxy advisers have both recommended voting for the appointment of all Toshiba Corp director nominees including two from activist shareholders, despite objection to the move from within the board.

Sri Lanka has approved a four-day work week for public sector workers to help them cope with a chronic fuel shortage and encourage them to grow food, the government said on Tuesday, as it struggles with its worst financial crisis in decades.

China is set to get a picture of how the country's zero-COVID-19 policy and slowing economy have impacted shoppers' urge to splurge, as e-commerce platforms gear up to report takings from the mid-year "618" shopping festival this weekend.

Pope Francis has taken a new series of swipes at Russia for its actions in Ukraine, saying its troops were brutal, cruel and ferocious and that the invasion violated a country's right to self-determination.