IBT Staff Reporter

U.S. bookseller Borders Group Inc said on Tuesday that Chief Executive Ron Marshall has resigned and will be replaced on an interim basis by the head of its marketing and merchandising teams.

New York City will have to lay off more than 10,000 public workers, in addition to 8,500 teachers, if the state legislature approves the $1.3 billion of cuts the governor proposed in his deficit-closing budget, Mayor Michael Bloomberg said on Monday.

U.S. stocks rose on Tuesday as consumer confidence data bolstered views the economy's recovery is on track and results from Travelers Cos and Apple Inc strengthened the fourth-quarter earnings picture.

Britain only just crept out of an 18-month recession at the end of 2009, suggesting any monetary tightening remains a long way off and raising fears about the prospects for recovery ahead of an election due by June.

Verizon Communications Inc said it is facing a slower-than-expected economic recovery and plans to cut 6 percent of its workforce, adding that it forecasts only a modest rebound in late 2010.

U.S. manufacturers face another tough year in 2010 after spending much of 2009 shrinking their businesses to cope with their worst slump in decades.

Continuing a doc career that pessimists might say seems devoted to solvable problems that will never be solved, Davis Guggenheim moves from climate change to the crisis of American education.

Google announced Tuesday a revised mobile Web site for its Voice application that makes it easier to be used on Apple's iPhone, just months after Apple rejected Google's original submission to its App Store.

According to a CNN poll released yesterday, almost 3 out of every 4 Americans think at least half of the money in last years $787 billion stimulus bill is being wasted.

Home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is still tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.

Japanese carmaker Mitsubishi Motors Corp said talks to deepen ties with PSA Peugeot Citroen were ongoing, but played down expectations of a capital alliance after a report that those talks had stalled.

But parents don't restrict their own energy intake, according to the report, which joins a growing body of work on the effects of menu labeling.

Warren Buffett has built a $1 billion stake in Munich Re, boosting his insurance holdings by taking a 3 percent stake in the world's biggest reinsurer.

Verizon Communications Inc reported stronger-than-expected mobile customer growth thanks to wholesale partners like America Movil's Tracfone, but its fixed-line business disappointed investors.

The Dow Jones Industrial Average managed to gain 27.36 points, or 0.27 percent at 11:10 a.m. ET, as several of its components made big gains. The stocks that lifted the index into positive territory include Travelers (NYSE:TRV), Alcoa (NYSE:AA), Wal-Mart (NYSE:WMT), and American Express (NYSE:AXP).

A Nebraskan native charged with taking part of a massive cyber-attack against the Scientology website will be spend the next year behind bars.

Verizon Communications Inc posted mobile customer growth that blew past Wall Street expectations for the fourth quarter but it reported a net loss from a hefty charge for worker layoffs.

The benefits of cloud computing are beginning to appeal to more and more users, however new research shows that consumers are still weary of entrusting their personal details to 3rd parties.

U.S. stocks edged higher on Tuesday, as better-than-expected consumer confidence data and strong quarterly results from Travelers and Apple offset concerns about a Chinese government clampdown on bank lending.

As big names like Christian Dior and Giorgio Armani flew in celebrities for an hour of opulence, newcomers revealed a somewhat less glamorous side of fashion -- such as personally sewing together gowns to save money.

Afghanistan's neighbours met in Turkey on Tuesday seeking a single voice before a London conference to set a timetable for handing security over to Afghans and find ways to negotiate peace with the Taliban.

The overall teen pregnancy rate was up 3 percent in 2006, with a 4 percent rise in the rate of births and a 1 percent rise in the rate of abortions, according to the report by the Guttmacher Institute.

Consumer confidence in January hit its highest level since September 2008 in data published on Tuesday, but another report showed house prices beginning to slip again after stabilizing last year.

Johnson & Johnson reported better-than-expected quarterly sales and earnings, helped by sharply lower taxes and a return to solid growth for its array of medicines, medical devices and consumer products.

General Motors Co said on Tuesday it will set up a $246 million facility backed by funding from the U.S. government to build electric motors to power future hybrids and possibly pure electric vehicles.

Two former allies who led Sri Lanka to victory in a 25-year civil war duelled at the ballot box on Tuesday after a bitter, personal campaign for the country's first peacetime presidential vote in nearly three decades.

Dutch sportscar maker Spyker's chief executive said on Tuesday talks on its bid to purchase Swedish brand Saab were proceeding well but negotiations could still go either way.

France's National Assembly should pass a resolution denouncing full Muslim face veils and then vote the strictest law possible to ban women from wearing them, a parliamentary commission proposed on Tuesday.

A Chinese court sentenced four more people to death for their part in bloody ethnic rioting in July last year in Urumqi, the capital of far western Xinjiang region, state media reported on Tuesday.