IBT Staff Reporter

Williams Companies, Inc (NYSE:WMB) and Williams Partners L.P. (NYSE:WPZ) on Tuesday announced a strategic restructuring valued at $12 billion.

House of Representatives Democratic leader Steny Hoyer said on Tuesday the U.S. Senate's version of healthcare reform was clearly better than nothing and the overhaul could pass the U.S. Congress within 15 days.

U.S. Federal Reserve Chairman Ben Bernanke on Tuesday asked a government auditor to conduct a full review of the central bank's actions in bailing out insurer AIG, seeking to quell a controversy that risks undermining the Fed's authority.

Oil rose above $79 a barrel on Tuesday after five sessions of losses as gains in the U.S. stock market boosted prices, outweighing earlier pressure from mild weather and the stronger greenback.

U.S. Black Hawk helicopters swooped down on Haiti's wrecked presidential palace to deploy troops and supplies on Tuesday as a huge relief operation to help earthquake survivors gained momentum.

Bank of America Corp likely will post another loss when it reports fourth-quarter earnings on Wednesday, as banks continue to grapple with their problems loans and a weak economy.

Longtime rivals Morgan Stanley and Goldman Sachs Group Inc find themselves on different ends of the pay debate as the surviving Wall Street titans prepare to disclose their fourth-quarter results.

U.S. Federal Reserve chairman Ben Bernanke on Tuesday weighed in to a simmering controversy over the Fed's actions in bailing out major insurer AIG in 2008, asking a government auditor to conduct a full review of the matter.

Kraft Foods sealed a friendly deal to buy British candy maker Cadbury for about $19.6 billion (11.9 billion pounds) after frantic last-minute talks broke an impasse over price.

Stocks rose broadly on Tuesday as investors scooped up healthcare shares on bets that a potential Republican victory in Massachusetts' Senate race could stall U.S. President Barack Obama's reforms and remove a threat to profits in the sector.

A storied UK confectioner could be getting new owners soon if shareholders agree to a deal recommended by its board of directors today.

Oil rose above $78 a barrel on Tuesday as gains in the U.S. stock market boosted prices, outweighing earlier pressure from mild weather and the stronger greenback.

New York's financial sector will pay an estimated $64.2 billion in bonuses this year, up from about $57 billion in 2009, though still around $19 billion less than the amount paid out in 2008, the state budget division forecast on Tuesday.

Shares of United States Steel Corp. (NYSE:X) rose 4.21 percent on Tuesday after a Deutsche Bank upgrade as basic materials and healthcare led the stock market higher.

Shares of Apple Inc rallied on Tuesday in anticipation of the company's expected launch of a tablet computer next week.

Spanish demand for power will likely take three to four years to recover to pre-crisis levels, but that will allow investment to switch from generation to distribution, an industry spokesman said on Tuesday.

Microsoft is in works to launch a touch-screen multimedia cell phone in an effort to challenge the Apple iPhone.

Foreign Secretary David Miliband denied any split with China over Iran on Tuesday and gave a strong hint that Britain backed more financial sanctions against Tehran over its nuclear programme.

Citigroup Inc posted a $7.6 billion quarterly loss on Tuesday after recording big charges linked to repaying government funds and bad loans.

Inflation is unlikely to be a problem as long as U.S. unemployment remains elevated, according to economists from the San Francisco Federal Reserve Bank.

Giant oil company Chevron Corp plans to restructure its refinery operations, cutting some jobs and exiting some markets, a company spokesman said on Tuesday.

U.S. stocks rose on Tuesday as investors bet that a Senate race in Massachusetts could put President Obama's reform plans, especially those on healthcare, in jeopardy.

Users wanting to call home form abroad are increasingly turning to Skype's Internet telephony service to the detriment of international carriers, new data showed.

The S&P 500 index rose more than 1 percent on Tuesday, led by gains in healthcare stocks ahead of a crucial election for a U.S. senate seat, which could decide the future of the healthcare reform currently being discussed in Congress.

Swiss banking heavyweight Credit Suisse says it will reduce its global bonus pool by 5 percent to pay for a new British tax on bonuses, but will cut deeper into the bonuses for its top managers in Britain.

Oil fell below $78 a barrel on Tuesday, extending a week-long losing streak as mild weather and a stronger dollar weighed on prices.

U.S. stocks rose on Tuesday as investors bet that a Senate race in Massachusetts could put President Obama's reform plans, especially those on healthcare, in jeopardy.

Parker Hannifin Corp , a maker of motion control technology for manufacturing and aerospace, reported a smaller-than-expected drop in quarterly profit on Tuesday, and said its restructuring supported profits during what is typically its weakest quarter.

China is paying citizens to report online porn to authorities, with nearly 200 people already compensating as the government cracks down on what it considers undesirable content.