IBT Staff Reporter

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The Australian Dollar climbed almost 1 cent during the local session yesterday despite a weaker than expected reading from the NAB Business Confidence Survey.

Thirteen big record companies want to freeze assets of the provider of popular file-sharing service LimeWire, accusing its founder of fraudulently trying to evade hundreds of millions of dollars in damages over copyright infringement.

Lehman Brothers Holdings Inc is seeking Bankruptcy Court permission to make another $255 million debt investment in a New York office building, saying doing so would protect its existing investment.

iPhone maker Foxconn International Holdings Ltd said it will seek higher prices from clients to help offset wage increases at a plant in southern China that has been hit by a series of suicides.

Texas Instruments Inc said its second-quarter earnings and revenue would be at the high-end of its previous estimates.

Stocks mostly rose in volatile trading on Tuesday, led by materials and financial shares, but investors shied away from big-cap technology shares on concerns about their European exposure.

Senate Democratic leaders on Tuesday proposed an economic package that would extend benefits for the long-term unemployed, renew business tax breaks and soften a proposed tax on fund managers profits.

The top bid in an annual online auction to dine on steak with billionaire investor Warren Buffett has reached $200,100.

U.S. retail sales likely notched an eighth straight month of gains in May as consumers took comfort in a gradually improving job market.

Airbus landed a record $11 billion order for superjumbos from Dubai's Emirates, the Arab world's largest airline, as the carrier shook off the risk of another recession and struck a blow to its older European rivals.

U.S. businesses may have started to begin significant hiring as the number of job openings at the end of April was the highest in more than a year, a government survey showed on Tuesday.

JPMorgan Chase & Co has made heavy losses from bad coal-price bets, traders dealing with the U.S. investment bank said, at a time when proprietary trading at deposit-taking banks faces increased regulatory scrutiny.

General Motors Co on Tuesday announced a recall of about 1.5 million trucks, crossovers and cars from model years 2006-2009 because the unit that heats the windshield washer fluid could catch fire.

Yahoo Inc said it signed British soccer star David Beckham as a brand ambassador ahead of the World Cup tournament in a move to draw more users to the online media company's products.

Middle East oil countries should increase production of heavy oil as oil prices remain higher and improved technology makes it easier, those attending an industry conference in Bahrain were told. Bahrain's oil minister, Abdulhussain Mirza, told the Heavy Oil World MENA conference that heavy oil reserves in the region were estimated at 1 trillion barrels, or 28% of total world reserves, but historically accounted for little more than 10% of production.

The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted energy shares, while the Nasdaq fell on weakness in tech.

A top Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.

Jerome Kerviel described his extreme trader past on the first day of his long-awaited trial as judges unpick his role in a 4.9 billion euro ($6.6 billion) trading loss that threatened to bring down Societe Generale.

They can call their wives and families back home but German players have no way of reaching team mates with their fancy new cell phones issued for the World Cup in South Africa, players said on Tuesday.

A top U.S. Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.

Low inflation and high unemployment in the United States justify the Federal Reserve keeping benchmark interest rates ultra-low for quite some time, Chicago Fed President said on Tuesday.

McDonald's Corp reported a stronger-than-expected 4.8 percent rise in worldwide May sales at established restaurants, but said it expects a weak euro to take a bite out of full-year profits.

The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted Exxon, while the Nasdaq fell after an analyst cut price targets on tech bellwethers such as Amazon.com.

European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.

European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.

Wall Street was flat in choppy trade on Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy.

Discount retailer Dollar General Corp reported a higher-than-expected quarterly profit and raised its full-year earnings forecast as consumers turn to the chain to save money on food and other staples.

iPhone maker Foxconn International Holdings will no longer pay compensation to families of employees who kill themselves to discourage further suicides, China's Xinhua news agency said on Tuesday.