IBT Staff Reporter

CIT Group Inc, a 101-year-old lender fighting for survival, will not provide financing for the Molson family's deal to buy the Montreal Canadiens hockey team, a spokesman for the family said on Tuesday.

Oil slid below $67 a barrel on Wednesday, extending losses from the more than $1 retreat the day before, on renewed concerns over the U.S. economy after a drop in consumer confidence and bearish API crude data.

Asian shares hovered near their 10-month peaks on Wednesday as investors wait for more company earnings, but China's CSCEC made a blockbuster listing in Shanghai.

IBM entered into a definitive merger agreement with a publicly-held company SPSS Inc. in an all cash transaction of $1.2 billion.

The Cape Cod resort area, famous for sandy beaches and centuries-old fishing villages, could in the next few years claim a new title of home to the United States' first offshore wind farm.

A Republican senator threatened on Tuesday to delay approval of President Barack Obama's choice of ambassador to Brazil because the nominee advocated ending a U.S. tariff on ethanol imports.

The United States and China, the world's largest emitters of greenhouse gases, signed an agreement on Tuesday that promises more cooperation on climate change, energy and the environment without setting firm goals.

Oracle on Tuesday releases new upgrade for its TimesTen In-Memory and the database caching option for Oracle Database 11g design for middle-tier deployment.

Russia's consumer rights regulator said on Tuesday that the number of confirmed human swine flu cases has risen to 163,800 worldwide with 998 deaths, according to the RiaNovosti.

Former Alaska Gov. Sarah Palin's farewell speech was read out into a poem Monday night by actor William Shatner on The Tonight Show.

The number of jobs created or saved by infrastructure projects funded by the U.S. economic stimulus plan more than doubled in June from May, according to a report released Tuesday by a House of Representatives committee.

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.

The Japanese government has approved Suning's plan to purchase a stake in Japanese home appliance retailer Laox Co., China's leading retailer said on Tuesday.

A majority of workers say they concentrate better working off-site than in the office, but many say loading files and software remotely slows them down and affects their productivity, a survey said on Tuesday.

China Unicom, the country's second largest wireless carrier, has reached an agreement with Apple as its sole iPhone partner in China for three years, and Apple's 3 G iPhone will be sold by the end of September, the ccidnet.com reported on Tuesday.

New York has been rated the best U.S. city for singles, bumping Atlanta out of the top spot.

Incentive pay under fire, Energy markets pressured, Home prices look up

The Dow and the S&P 500 dipped on Tuesday as investors shrugged off weak consumer confidence data and focused on positive earnings reports.

The United States and China agreed on a broad framework of cooperation on Tuesday as they strive to lead the global economy out of recession and forge a closer alliance on tough environmental and political issues.

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.

Ubisoft, whose revenues declined 51 percent in the first quarter, delayed its awaited game Splinter Cell Conviction and Red Steel 2 due to slow demand and in the anticipation of market conditions.

The Edmunds.com provides list of vehicles eligible for Cash for Clunkers rebate. The “Cash for Clunkers” program was enacted by the U.S. House of Representatives on June 24. And it is likely to be made into law by the end of the summer.

A House panel on Tuesday voted on a legislation banning corporate pay practices and will impose restrictions on the pay of top executives and give shareholders a vote on executive compensation that encourages financial companies to take inappropriate risks. The bill, which is opposed by Republicans, was approved in a 40-28 party-line vote.

IBM plans to buy business analytics company SPSS Inc for $1.2 billion in cash to better compete with Oracle Corp and SAP AG in the growing field of business intelligence.

Full video, audio and a transcript of Federal Reserve Bank chief Ben Bernanke's appearance on PBS' News Hour with Jim Lehrer is available online.

The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process.

Legislation that would impose new curbs on executive pay was approved on Tuesday by a congressional committee, advancing a component of the Obama administration's broad plan to tighten financial regulation.

Exiled Uyghur leader Rebiya Kadeer has arrived in Japan despite China's displeasure, and China in response strongly condemned Japan for allowing the visit as she was accused of instigating the deadly ethnic riots in Xinjiang.

Sex offenders have nowhere to hide. People who use iPhone with Offender Locator application can now be able to locate sex offenders to all the 50 states of US.