IBT Staff Reporter

Manchester United's player-turned-coach Paul Scholes has given a damning verdict on traditional-rivals Arsenal, stating that a failure to produce the results they need undermines the club's attractive style of play.

South Korea's Hana Financial Group <086790.KS> said on Tuesday its $4.3 billion deal to take over private equity fund Lone Star's controlling stake in Korea Exchange Bank <004940.KS> would be extended for six months to December.

China's local government debt burden may be 3.5 trillion yuan ($540 billion) larger than auditors estimated, putting banks on the hook for deeper losses that could threaten their credit ratings, Moody's said on Tuesday.

Fall is approaching and if rumors are true we can expect to see Apple's next generation tablet the iPad 3 hitting stores in September. The iPads have dominated the tablet scene since its release in April 2010 by owning 82% of the US market. Apple's iPad 3 release is expected to strengthen that number though a batch of next generation competing tablets plans to reverse that trend.

Canon, the world's top camera-maker, is exploring the possibility of launching a mirrorless model, packing many of the capabilities of an upmarket single-lens reflex camera into a more compact body, a senior executive said.

Yesterday was day one of the 4 day haute couture show home to Paris, which sees handpicked labels unleash their extravagant and lavish creations to the world. Lavish being the operative word, as these garments can be priced anywhere between tens and even hundreds of thousands of pounds.

A shoe cleaner in China who had not heard from her daughter for the past five years, since she left, was re-united after a stranger tweeted the lady’s picture taken in his iPhone on a micro-blogging site.

Greece will stave off default not only for its own sake but because its survival is vital for the euro zone and the global economy, Greek Finance Minister Evangelos Venizelos told Reuters on Monday.

Chinese regulators are playing a game of hide and seek with the country's lenders, trying to uncover deals struck with the intention of evading official loan restrictions.

World stocks steadied below a recent 4-1/2 month high on Tuesday while the euro fell as worries about further monetary tightening in China and caution over the euro zone and U.S. economic outlook made investors hesitant.

Samsung Electronics, the world's top maker of memory chips and televisions, is likely to report sharply lower second-quarter earnings this week, hit by a loss at its LCD display unit and as weak demand for computers hit sales of its semiconductors.

HTC is hurrying with its smartphones—HTC Thunderbolt, HTC Sensation and EVO 3D, while iPhone 5 is stuck with the cacophony of rumors and Samsung Galaxy SII is yet to spread wild.

Canon, the world's largest maker of digital cameras, is looking into the possibility of launching a mirrorless model which features many of the capabilities of an upmarket single-lens reflex camera in a more compact body, a senior executive told Reuters on Tuesday.

There are some game spoiler videos on YouTube and the full single-player campaign and some multi-player options are available for streaming.

The U.S. dollar rose from the day's lows on a broad bout of short covering on Tuesday while Asian stocks pulled back slightly from a one-month high as some investors took profits from their recent rally.

The accounting troubles and short-seller attacks plaguing Chinese companies have spared few industries, though one sector appears to be a common target.

China's top e-commerce group Alibaba Group is preparing to launch a mobile operating system in the third quarter, the Wall Street Journal reported on Tuesday.

Asian stocks steadied near one-month highs on Tuesday as market players took a breather after five consecutive days of gains while the Australian dollar dipped ahead of a policy meeting of the country's central bank where it may signal a dovish stance.

Asian stocks were steady near one-month highs on Tuesday as market players took a breather after five consecutive days of gains while the Australian dollar slipped ahead of a policy meeting of the country's central bank.

Are you planning to watch the fireworks in the Bay Area but haven’t found where to go yet?

“Transformers: Dark of the Moon” pulled in $116.4 million from the U.S. at the box office already, defeating its competitors this weekend.

Tokyo Stock Exchange has proposed a tender offer for Osaka Securities Exchange Co <8697.OS>, Japan's Asahi newspaper reported on Tuesday, as the two bourses proceed in merger talks aimed at surviving a wave of industry consolidation.

Hackers took control of a FoxNews.com Twitter account on Monday and sent six false tweets saying that U.S. President Barack Obama had been shot dead, prompting an investigation by the Secret Service.

The most spectacular Fourth of July events will undoubtedly be the fireworks.

Joey Chestnut again reigns as the champion in Nathan's July 4th hot dog eating contest. Chestnut amazingly downed 62 hot dogs within 10 minutes to capture his fifth title. Sixteen other competitors participated in the event, but none were any match for the San Jose engineering student.

Bailouts of Europe's debt-stricken countries face a legal challenge on Tuesday as Germany's top court begins hearing a lawsuit against German contributions to the rescues of Greece, Ireland and Portugal.

Greece would likely be in default if it follows a debt rollover plan pushed by French banks, S&P warned on Monday, deepening the pain of a bailout that one European official said will cost Athens sovereignty and jobs.

Ireland's finance minister signaled on Monday that the government would make a larger budgetary adjustment of 4 billion euros ($5.8 billion) in 2012 despite being confident of meeting this year's fiscal goals under an EU-IMF bailout.

On Monday, Team Inj3ct0r (1337day) claimed to hack Apache Tomcat Version 5.5.9 of the North Atlantic Treaty Organization (NATO), reported the Hacker News.