IBT Staff Reporter

Germany inched toward a wider ban on naked short selling of stocks and Italy approved austerity measures on Tuesday to contain a euro zone debt crisis that could lead U.S. officials to urge stress tests for European banks.

Stocks staged a furious late-day rally on Tuesday to push the S&P 500 into positive territory as the focus shifted from European debt woes to buying after shares hit six-month lows.

Shareholders of bankrupt Washington Mutual Inc asked a federal judge for permission to investigate JPMorgan Chase & Co for its role in the failure of Washington Mutual Bank, according to court documents filed on Tuesday.

The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.

Democrats in Congress are racing against the clock to renew unemployment benefits for hundreds of thousands of jobless Americans, in legislation that also raises taxes on investment fund managers and multinational companies.

Entrepreneur Mike Dougherty envisions a day when people will listen to their car radio via a wireless Internet connection and be able to make song requests with the help of a hands-free device as they drive along the freeway.

With tax credits for house buyers gone and tough new banking regulations on the way, expect lending in the United States to come under significant pressure.

Stocks declined, but sharply cut losses late on Tuesday that drove the Dow back above 10,000 as gains in the retail and materials sectors helped offset concerns about the euro zone's banking problems.

The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.

Stocks dropped in a broad global sell-off on Tuesday as investors worried that Europe's banking problems could derail the economic recovery.

The Senate named 12 senators, including tough Wall Street critics and more moderate members, Tuesday to a panel that will finalize the most sweeping overhaul of financial regulations since the 1930s.

Yahoo Inc and Nokia Oyj said they would team up to boost their mobile Internet offerings, seeking to regain market share lost to rivals like Apple Inc and Google Inc.

Facebook Chief Executive Mark Zuckerberg said the Internet social network will roll out new privacy settings for its more than 400 million users, amid growing concerns that the company is pushing users to make more of their personal data public.

Dell Inc said its Streak tablet computer can double as a mobile phone and will have a front-facing camera for videoconferencing -- features it hopes will help the new gadget compete against Apple Inc's iPad.

Most of Prudential Plc's investors are comfortable with its bid for AIG's Asian life unit AIA, its chairman said, moving to dispel fears shareholders may baulk at the $35.5 billion cost of the deal.

U.S. Treasury Secretary Timothy Geithner will urge European officials this week to conduct some form of banking system stress tests, CNBC reported on Tuesday, citing an Obama administration official.

A U.S. lawmaker charged with a key role in hammering out a final financial regulation bill said on Tuesday there is no need to force banks out of the lucrative over-the-counter derivatives business -- a potentially big win for Wall Street firms.

U.S. stocks dropped in a broad global sell-off on Tuesday as investors worried that Europe's banking problems could derail the economic recovery.

Stocks sank in a broad global sell-off on Tuesday as investors worried that Europe's banking problems and North Korea's threats of military action against South Korea could derail the economic recovery.

Microsoft Corp pushed out the chief of its division focused on mobile phones, videogames and other consumer devices on Tuesday, allowing two lower executives to report to Chief Executive Steve Ballmer.

U.S. consumer confidence rose in May to a two-year high as concerns about the labor market eased, according to a private sector report released on Tuesday.

Stocks sank in a broad global sell-off on Tuesday as investors worried that Europe's banking problems and North Korea's threats of military action against South Korea could derail the economic recovery.

Consumer confidence rose for the third straight month in May to the highest in more than two years as concerns about the labor market continued to ease, according to a private sector report released on Tuesday.

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Single-family home prices were unchanged in March from February, but fell in the first quarter on renewed price pressure, Standard & Poor's/Case Shiller home price indexes showed on Tuesday.

Stocks tumbled about 2 percent on Tuesday, tracking a sell-off in global equities, on worries over Europe's banking sector and as short-term funding costs soared.

The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.

Single-family home prices were unchanged in March from February, but fell in the first quarter under renewed pressure before federal aid for buyers faded away, Standard & Poor's/Case Shiller home price indexes showed on Tuesday.

The Federal Reserve will watch the U.S. economy's progress through autumn and into 2011 as it decides how long it will hold interest rates at ultra-low levels, a top Fed official said on Tuesday.