IBT Staff Reporter

Weak U.S. labor markets are likely to justify easy money policies for quite a while longer, a top Federal Reserve official said on Tuesday.

U.S. stocks ended slightly higher on Tuesday, helped by gains in the telecom and industrial sectors, though the advance was limited by falling commodity prices that pressured materials shares. The market's mild finish came on the first anniversary of its drop to 12-year closing lows on March 9, 2009.

Clamping down on spending now to cut the gaping U.S. budget deficit would be pound-foolish and derail the economic recovery, a top White House economic adviser said on Tuesday.

The Pentagon said on Tuesday it might award a multibillion-dollar aerial tanker contract sooner than planned after Northrop Grumman Corp and Europe's EADS pulled out of the competition, leaving Boeing Co as the sole bidder.

Toyota Motor Corp has asked a Michigan appeals court to intervene to keep its top two U.S. executives from being grilled by lawyers for the family of a woman killed while driving a Camry in 2008.

Robert Joe Halderman, a CBS producer who was accused of a $2 million extortion attempt against TV host David Letterman, pleaded guilty at a Manhattan court on Tuesday to attempted grand larceny.

Cisco Systems Inc, introduced a new router that it says will handle Internet traffic 12 times faster than rival products, as it looks to compete with rivals such as Juniper Networks Inc.

The U.S. stock market rallied on Monday as the session marked the one year anniversary of the 2009 market bottom.

Top Greek officials pressed their case on Tuesday for curbs on speculative trading they blame for pushing the country into crisis, but the Obama administration reacted coolly, saying it was working on its own plans to make trading more transparent.

Sony and Samsung announced plans to introduce 3D televisions in coming months, betting they will become the next hot products in an increasingly crowded electronics industry.

British bank Barclays Plc is looking to buy a retail bank in the United States to extend its presence after buying Lehman Brothers North American operations in 2008, the Wall Street Journal reported on Tuesday, citing people close to the matter.

Optimism among the country's small businesses slipped in February as entrepreneurs worried about repeatedly weak sales, the National Federation of Independent Business said in a survey released on Tuesday.

It may have hammered many a company's balance sheet, but the global financial crisis has made more than two out of five employees feel totally committed to their employer, a global survey showed.

A leading indicator of U.S. residential construction spending rose in the fourth quarter from a year earlier, but business conditions remained weak as the housing downturn lingers, an architects' trade group said on Tuesday.

The percentage of U.S. homeowners who cut the listing price on their houses fell in February to the lowest level in 10 months, as initial pricing became more realistic heading into the spring selling season, real estate web site Trulia.com said on Tuesday.

The study findings of the Australian Institute of Health and Welfare (AIHW) and National Breast and Ovarian Cancer Center (NBOCC) released today found that women diagnosed with ductal carcinoma in situ (DCIS) are at a significantly higher risk of being diagnosed with a subsequent invasive breast cancer.

The Australian Manufacturing Workers Union (AMWU) reports that the workers of Woodside Petroleum's Pluto liquefied natural gas (LNG) projects located at Western Australia have been exposed to high levels of asbestos.

Recent research shows that more than 70 percent of Australian who take non-steroidal anti-inflammatory drugs (NSAIDs), available over-the-counter at supermarkets, are unaware of their associated health consequences.

Chevron Corp , the second-largest U.S. oil company, put several of its downstream operations up for sale, including its Pembroke refinery in the UK, and said it would eliminate 2,000 jobs this year.

The number of U.S. households with a net worth of at least $1 million jumped 16 percent last year after dipping sharply during the financial crisis, an industry consulting group said on Tuesday.

U.S. stocks rose on Tuesday, the anniversary of the market lows reached in the recession, as gains in transportation and telecommunications shares signaled the recovery remained intact.

U.S. researchers estimate that an 18 percent tax on pizza and soda can push down U.S. adults' calorie intake enough to lower their average weight by 5 pounds (2 kg) per year.

The European Commission said on Tuesday it will consider banning the naked selling of derivatives contracts some EU politicians say were used by speculators to bet on a Greek bond default.

Two NATO soldiers were killed Tuesday when a suicide bomber blew himself up outside a military base in Afghanistan, the alliance and local government sources said.

U.S. regulators may dedicate spectrum to free wireless Internet service for some Americans to increase affordable broadband service nationwide, the Federal Communications Commission said on Tuesday.

Amid growing demand for video and mobile applications for the largest network carriers, hardware maker Cisco on Tuesday unveiled its latest router, which the company says will give carriers 12 times the traffic capacity of currently available devices.

Greek Finance Minister George Papaconstantinou said on Tuesday the country was taking necessary steps to get its budgets under control but said the issue was also a European one.

The NFL has signed a four-year agreement with Verizon Wireless to show live games and highlights on mobile phones in a deal U.S. media reported was worth $720 million.

The NFL has signed a four-year agreement with Verizon Wireless to show live games and highlights on mobile phones in a deal U.S. media reported was worth $720 million.