IBT Staff Reporter

BP's plan to gain a foothold in Russia's offshore Arctic oilfields through a deal with state-controlled Rosneft has collapsed, opening the way for other oil groups to try to fill its place.

JPMorgan Chase & Co Chief Executive Jamie Dimon said the U.S. economic recovery may be gathering steam.

Graffiti has become more widely accepted as an art form due to artists such as Banksy, but the art of graffiti has been around for decades, on view for all eyes to see.

Hewlett-Packard Co, the world's No. 1 computer maker, on Tuesday cut its financial forecasts due to problems stemming from Japan's earthquake, soft PC sales and reduced expectations for its services business.

America's two feel good stories come together as both Rep. Gabrielle Giffords and the space shuttle Endeavor came together for a inspirational launch day at the Kennedy Space Center. As the Endeavor triumphantly soared into the clouds above, congresswoman Giffords watched from her wheelchair, smiled and exclaimed Good stuff, good stuff.

Manchester United brought down the famous banner hanging from the Stretford End of Old Trafford, meant to display the number of years it had been since their neighbors, Manchester City, had last won a trophy.

U.S. stocks fell on Tuesday, with the Dow dropping more than 1 percent as a disappointing outlook from Hewlett-Packard Co and weak U.S. data added to growing doubts on the strength of the economy.

Oil prices slid more than 2 percent on Tuesday as the dollar strengthened and weak economic data fueled concerns about demand that have helped push prices down by around 15 percent so far in May.

New York Attorney General Eric Schneiderman is investigating big banks like Bank of America Corp , Morgan Stanley and Goldman Sachs related to packaging of toxic mortgage loans into securities, the Wall Street Journal reported, citing sources.

Housing starts and building permits fell in April and factory output slumped as an automobile parts shortage crimped production, showing the economy got off to a weak start in the second quarter.

Endeavour spends its first day in orbit performing a standard scan of the space shuttle's thermal protection system using the Orbiter Boom Sensor System.

French President Nicolas Sarkozy has called on members of his party to be a rock of solidity amid the crisis engulfing left-leaning rival for the presidency Dominique Strauss-Kahn, the current IMF managing director, as he faces charges of sexually attacking a hotel maid in New York.

The United States launched a new initiative Monday designed to stamp the Internet with U.S. values such as freedom of expression, saying cyberspace must remain open, secure and reliable.

Japan's Olympus said on Tuesday that it would give its 2011/12 earnings outlook by the end of June and that it could pull its troubled imaging division back into profit within 12-18 months.

Hewlett-Packard Co slashed its profit outlook as it boosts spending to resuscitate its troubled services business.

Nokia and Siemens are letting two private equity consortia look at the books of Nokia Siemens Networks as they try to sell the joint venture, three people familiar with the matter said.

There are two carved-in-granite long-term economic trends; one of them being the decline of the dollar and the other one being war. I think those are locked in, and so I recommend people buy investments that do well during wartime or during periods of currency debasement, which we have.

The S&P 500 and Dow index futures rose slightly on Tuesday, but gains were capped after disappointing results from Hewlett-Packard.

Glencore is likely to price its record initial public offering at or above 530p ($8.60), sources close to the matter said, valuing the world's largest commodities trader at a minimum of 36.5 billion pounds ($59 billion).

Oil prices edged lower on Tuesday, pressured by a stronger dollar and concerns about global growth prospects after a slew of weak economic data, bringing losses to around 15 percent so far in May.

Housing starts and building permits fell in April and factory output slumped as automobile part shortage crimped production, showing the economy off to a weak start in the second quarter.

Social networking company LinkedIn Corp raised the expected price range of its initial public offering by 30 percent on Tuesday, a sign that investors remain eager to bet on social networking companies.

Home Depot Inc reported weaker-than-expected quarterly sales as inclement weather hurt demand for seasonal goods at the start of the spring selling season.

LinkedIn Corp sees its initial public offering being priced about 30 percent higher than previously expected, as investors clamor to get a bite of the social networking pie.

Celebrity photographer Brad Elterman has captured iconic images of Dylan, Bowie, and Lennon, amongst other notable figures, in unique settings from the 70s.

Twitter has spoken - Lady Gaga is a bigger star than Justin Bieber, with at least 10 million Twitter fans compared to Bieber who has only 9.6 million.

Apple's iPad is finally about to get some real competition. At least according to Jen-Hsun Huang, co-founder and chief executive of chip designer Nvidia.

U.S. stocks fell on Tuesday, with the S&P 500 and the Nasdaq falling below their 50-day moving average, as a negative outlook from Hewlett-Packard Co and weak U.S. economic data raised jitters about the state of the recovery.

LinkedIn Corp, which runs a social network for professionals, said the pricing of its initial public offering was increased by 30 percent, as investors clamour to ride the social networking wave.