IBT Staff Reporter

Bill Clinton, whose hopes for a peacemaking trip to North Korea fizzled while he was still president, got a second chance on Tuesday and negotiated the release of two American journalists in Pyongyang.

Electronic Arts Inc reported better-than-expected results on strong sales of The Sims and reaffirmed its fiscal 2010 forecast, sending shares up nearly 4 percent on Tuesday.

Consumer spending rose 0.4 percent in June, exceeding analyst forecasts the Commerce Department said Tuesday. The increase could be attributed to consumers spending more on increasingly expensive staples, such as gasoline. After adjusting for inflation, spending fell by 0.1 percent.

Disagreement within the Obama administration over reshaping U.S. financial regulation flared on Tuesday, with top bank regulators defending their turf against key parts of a plan to overhaul bank supervision.

Kraft Foods Inc posted higher-than-expected quarterly profit on Tuesday as price increases, cost cuts and people eating more food at home helped boost results.

Stocks edged higher on Tuesday, led by the financial sector as economic data pointed to a sustained if slow recovery from the recession, taking the Dow and the S&P 500 to nine-month highs.

Whole Foods Market Inc on Tuesday posted third quarter earnings that beat Wall Street's expectations, as sales rose, and the seller of organic and gourmet food products raised its full-year earnings forecast.

It will almost assuredly be ladies night this year at the 2009 MTV Video Music Awards.

Pension managers and mutual fund houses have been among the biggest buyers of the Dow Jones industrial average in recent weeks, underscoring the growing belief the recession is over, according to an analysis conducted by Thomson Reuters.

Microsoft has unveiled its Windows 7 XP Mode release candidate (RC) version and is available for download at the company's website.

Consumer spending continues to decline, as rising unemployment and a prolonged recession force consumers to cut back.

U.S. consumers spent more in June and there was positive news on the housing market, but a big drop in incomes pointed to a slow recovery from the worst recession in decades.

The world's largest chip maker, Intel on Tuesday launched new software application that runs in a social networking that will save the world in donating spare processing power in a computer to a worthwhile cause's effort.

North Korea on Tuesday released two jailed American journalists after a visit from former U.S. President Bill Clinton in the highest-level U.S. contact with North Korea since Clinton was president nearly a decade ago.

Oil prices fell on Tuesday on expectations data will show a rise in U.S. crude inventories and profit-taking following three days of gains.

The real estate investment arm of U.S. bank Morgan Stanley (MS.N) aims to sell a Shanghai office building for around 2.5 billion yuan ($366 million) to a Hong-Kong-listed developer, sources said on Tuesday.

Signs of recovery in the U.S. housing market and growing demand for wood as an energy source could herald a recovery in demand for forestry products, a United Nations agency said on Tuesday.

General Motors and the German government could decide by the end of the week which bidder they want to take control of the automaker's Opel unit, Germany's deputy economics minister said on Tuesday.

U.S. Senate Majority Leader Harry Reid on Tuesday put a bill to extend the popular

BMW (BMWG.DE) will launch a new class of environmentally friendly vehicles under its own brand, signalling that even premium automakers are ready to embrace electric vehicles as a mainstream product.

U.S. carmaker General Motors [GM.UL] and German officials began a fresh round of talks on Tuesday to try to narrow their differences on which bidder they want to take control of its Opel unit.

Leading global automakers reported forecast-beating quarterly results on Tuesday, but continued to give cautious outlooks for the industry, which remains hard hit by weak demand and a lack of consumer credit.

Power producers Duke Energy Co and Entergy Corp reported lower second-quarter earnings Tuesday as the weak U.S. economy reduced electricity demand from their biggest industrial customers.

Industrial conglomerate Emerson Electric Co reported a 37 percent drop in quarterly net profit on Tuesday and said no significant economic recovery was likely before late 2010.

'Flashes' under the gun, Opel Talks Advance, Bigger Spenders

U.S. stocks edged lower on Tuesday as economic data showing contracts for home sales rose more than expected in June was offset by investors booking profits after the recent rally.

German Deputy Economics Minister Jochen Homann said on Tuesday that German officials and General Motors had made significant progress in talks over the sale of the U.S. carmaker's Opel unit.

Real estate tycoon Donald Trump and an affiliate of Bank of Nevada will buy Trump Entertainment Resorts Inc for $100 million, the bankrupt casino operator said, sending its shares up more than 79 percent.

Bankrupt Nortel Networks Inc received U.S. and Canadian court approval on Tuesday to sell its enterprise business, further dismantling the former corporate icon.