IBT Staff Reporter

The Australian Dollar has opened higher this morning above 0.8500 and this is pretty much on the back of yesterday's no change in Australia's Official Cash rate and the release of the Australian Trade Balance data for May.

Drilling of a relief well to halt the BP oil spill in the Gulf of Mexico is a week ahead of schedule, the U.S. official overseeing the response to the disaster said on Tuesday.

British researchers are claiming that an unmade bed is good for the health because house dust mites don't survive on it thereby minimizing or eliminating allergens that trigger asthma and allergies.

As expected, the Reserve Bank of Australia (RBA) left interest rates on hold at 4.5 per cent. In the accompanying statement, RBA governor Mr Glenn Stevens noted that whilst underlying inflation is likely to be in the upper half of the target zone over the next year, current policy settings were described as appropriate.

Alan Krueger can wax poetic about data -- literally.

Storied buyout firm Kohlberg Kravis Roberts & Co will end its long wait for a New York Stock Exchange listing on July 15, joining rival Blackstone Group LP , which made its debut three years ago.

Former IBM Corp executive Robert Moffat, who admitted to charges of insider trading in the Galleon hedge fund probe, told Fortune magazine that his affair with co-defendant Danielle Chiesi was more about business than sex.

Spanish researchers studying the detection of substances in breast milk have recommended that breastfeeding mom totally avoid drug abuse so as not to pass drugs to newborn.

Summer storms are pushing oil from a BP spill in the Gulf of Mexico deeper into Louisiana's wetlands and temporarily slowing efforts to contain damage.

Kohlberg Kravis Roberts & Co co-founders Henry Kravis and George Roberts were each paid about $22 million last year in fee and other income, and together own about a quarter of the storied buyout firm, according to a regulatory filing.

Wall Street rebounded on Tuesday, but strong buying interest evaporated in the afternoon as bearish sentiment reasserted itself.

Lockheed Martin Corp , the world's biggest defense contractor, said on Tuesday it is offering early exit incentive packages to its directors and vice presidents to cut costs as growth in U.S. defense spending slows.

The U.S. service sector expanded in June for a sixth straight month but growth was at the slowest pace since February, the latest evidence that the economic recovery is cooling.

LeBron James has made at least one decision, just not the one the basketball world had been waiting for.

Steel company Steel Development on Tuesday dismissed concerns raised by lawmakers over an investment from China's state-owned Anshan Iron and Steel Group in one of its steel mills.

European bank regulators will seek to safeguard the credibility of health checks on top banks by showing how the tests are done, to allay investors' fears of political meddling.

U.S. retail sales are expected to have risen in June due to warm weather and a late Memorial Day, but the gains may be just a temporary reprieve in an uncertain economy.

Stocks rose slightly on Tuesday, rebounding from weeks of selling, but initial gains were mostly erased by afternoon as retail shares weighed.

China's official Xinhua news agency on Tuesday criticized a group of 50 U.S. lawmakers for calling for a probe into Chinese investment in the U.S. steel sector, saying protectionism was rearing its ugly head again.

European bank supervisors plan to outline on Wednesday the methodology used in their stress tests of Europe's biggest banks, sources familiar with the process said on Tuesday.

Kohlberg Kravis Roberts & Co co-founders Henry Kravis and George Roberts were paid about $22 million last year in fee and other income, and own about a quarter of the private equity firm which is about to list on the NYSE, according to a regulatory filing.

The pace of global expansion in the private sector sagged in June to a four-month low, according to a survey on Tuesday that pointed to slowing growth in order books and employment.

European bank supervisors plan to outline on Wednesday the methodology used in their stress tests of Europe's biggest banks, sources familiar with the process said on Tuesday.

Agricultural Bank of China priced its Hong Kong and Shanghai dual listing on Tuesday, a deal that would break all IPO records by raising more than $22 billion when adding in over-allotment shares.

Kohlberg Kravis Roberts & Co co-founders Henry Kravis and George Roberts will own about a quarter of the private equity firm they founded after the firm is listed on the New York Stock Exchange, according to a regulatory by the company on Tuesday.

BP Plc said on Tuesday that its oil-capture systems at the leak in the Gulf of Mexico collected or burned off 24,980 barrels of oil on Monday.

World stocks posted their biggest gains in a month on Tuesday after recent drubbings pushed shares to attractive levels, while the euro rose as investors waded back into risky assets.

Stocks rebounded on Tuesday from a 10-month low on the S&P 500 on data that showed the services sector, the economy's largest, grew for a sixth straight month in June.

Top Chinese automaker SAIC Motor Corp sold 30 percent more vehicles in June compared with a year earlier, the second slowest monthly gain so far this year as demand in the world's largest auto market moderates after rapid expansion in 2009.