IBT Staff Reporter

South Korea launched its first space rocket on Tuesday but failed to put a scientific satellite into its planned orbit in a setback for the country's nascent space program.

North Korea has invited the U.S. envoy overseeing ties with the prickly state to visit for nuclear talks next month, South Korean media said on Tuesday, reaching out to Washington as the United States pushes sanctions against Pyongyang.

Four U.S. servicemen were killed by a roadside bomb in Afghanistan on Tuesday, making 2009 the deadliest year for the growing contingent of foreign troops since the overthrow of the Taliban in 2001.

Federal Reserve Chairman Ben Bernanke said on Tuesday that he would work to build a solid foundation for growth and prosperity in an environment of price stability, if he was confirmed for a second term.

U.S. Senate Banking Committee Chairman Chris Dodd promised on Monday a thorough and comprehensive hearing on the renomination of Federal Reserve Bank Chairman Ben Bernanke.

Ben Bernanke, whose four-year term as the head of the U.S. central bank ends on January 31, will be nominated for a second term, a senior Obama administration official said on Monday.

Close-out retailer Big Lots Inc posted a higher-than-expected quarterly profit on tight expense controls on Tuesday and forecast a full-year profit that might exceed Wall Street estimates.

An Iranian prosecutor called on Tuesday for maximum punishment of a senior reformer for acting against national security, a crime punishable by death, in the fourth mass trial of moderates after the disputed election.

Thai integrated circuit packager Hana Microelectronics PCL HANA.BK said on Tuesday that its 2009 revenue could fall by less than the 25-30 percent expected previously, and it forecast better profits for the second half.

Citigroup Inc has

The White House and the Congressional Budget Office are expected to release new estimates on Tuesday of the scope of federal budget deficits and the health of the U.S. economy.

The White House and U.S. Congress will issue separate budget estimates on Tuesday that could slow President Barack Obama's domestic policy proposals as he faces increased skepticism among lawmakers.

Sales of tenant-in-common interests have plummeted, but don't count the securitized real estate industry out just yet.

Obama favors Bernanke; GM's Big Decision; Cutting off the Net

HBO is considering a show based on

Reality production company RDF aims to launch the first interactive animated series in the United States.

Commodity prices have continued to drop sending the South African Rand and Aussie dollar lower this morning. Risk appetite has taken a hit as increasing loan losses in the U.S and lower profits from companies in China saps demand for riskier assets. This has sent the dollar and Yen higher as the usual market mechanics continue to ring true. While the markets are largely anticipating the current bounce back in the economy companies are finding a hard time justifying this excessive optimism.

Bankrupt flash memory chips maker Spansion Inc (SPSNQ.PK) said it had agreed to sell its manufacturing facility in China to Taiwan's Powertech Technology Inc (6239.TW) for about $31 million in cash as part of its reorganization plan.

A new reality television show about the life of actor and martial arts expert Steven Seagal became the subject of a federal lawsuit filed on Monday in a dispute over who thought up the idea for the show.

A tough market can make even the most fiercely independent brokers reconsider their long-term ownership strategy. Here's what to consider before being acquired.

Repeat offenders who persist in illegally downloading music from file-sharing sites such as Limewire could be blocked from accessing the Web under British government proposals issued on Tuesday.

U.S. President Barack Obama will nominate Ben Bernanke to a second term as chairman of the Federal Reserve on Tuesday, seeking to keep him in place to steer the world's largest economy out of its deepest downturn since the Great Depression.

Top office products retailer Staples Inc reported a 38 percent drop in quarterly profit as costs increased.

Tokyo was the most active market for office property transactions in the first half of this year, buoyed by major deals in prime properties, a real estate market research firm said.

U.S. economic activity improved again in July from extremely weak levels earlier this year, suggesting the recession is waning, a report from the Federal Reserve Bank of Chicago showed on Monday.

British online gaming group PartyGaming Plc said on Tuesday it agreed to buy U.S.-based branded gaming firm WPT Enterprises Inc , known as World Poker Tour, for $12.3 million in cash.

Oil bounced above $74 on Tuesday, nearly recouping earlier losses in line with equity markets ahead of a spate of U.S. economics data.

Big Lots Inc posted a higher-than-expected quarterly profit on Tuesday as the close-out retailer offset falling sales with tight expense controls.

Short sales now account for the majority of some real estate agents' transactions. To ensure they have plenty of time to list and show properties, many of these agents are working with short-sale negotiators, who spend much of their time on the phone negotiating with lenders on behalf of sellers.