IBT Staff Reporter

Consumers, insurance companies and the federal government spend an extra $3.5 billion for prescription drugs every year because brand-name companies pay generic producers to stay out of the market, the head of the U.S. Federal Trade Commission said on Tuesday.

Intel Corp announced a technology partnership with Nokia that could potentially give the chip maker the breakthrough it has been looking for into the mobile market.

Boeing on Tuesday postponed the first test flight of its 787 Dreamliner for a fifth time, citing a structural problem that marked the latest blow to the credibility of the No. 2 planemaker and sent its shares tumbling 9 percent.

Home resales rose again in May, the first back-to-back monthly gain since September 2005 due to historically low mortgage rates and a first-time buyer tax credit, the National Association of Realtors reported on Tuesday.

A survivor who was riding in the very front of the commuter train that collided into a train that was still in Washington D.C. on Monday said the train's driver had told passengers there was a train ahead.

Oil rose nearly 2 percent on Tuesday as the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.

A German court ruled Tuesday that schoolchildren may rate their teachers online, rejecting the case of a woman who argued her rights had been infringed by pupils who gave her bad grades on a popular website.

The United States and European Union on Tuesday began a case against China at the World Trade Organization over its export restrictions on industrial raw materials, saying Beijing was trying to tilt the playing field in favor of its own industries.

The Brazilian real estate market is booming again after fizzling at the end of last year as sales have rebounded in one of the best emerging markets, a New York-based real estate private equity investor said in an interview on Tuesday.

Borrowers in the market for office, retail and apartment buildings are beginning to come to terms with lost value in commercial real estate, portending a capitulation required for a market rebound, a top industry lawyer said on Monday.

Sales of previously owned homes in the United States rose at a slower-than-expected pace in May, an industry survey showed on Tuesday, pointing to a sluggish recovery from the severe economic recession.

Sprint Nextel Corp expects shortages of Palm Inc's high-profile Pre smartphone for a while but has not felt any impact from the new iPhone so far, Sprint's chief financial officer said on Tuesday.

The Federal Reserve began a two-day meeting on Tuesday at which it is expected to dampen expectations for interest rate hikes this year, while holding steady on its plans for asset purchases.

Worldwide wind energy capacity installed in the first quarter of 2009 grew 23 percent compared to the same period last year, according to a report from the World Wind Energy Association on Tuesday.

U.S. chief executives took a slightly less grim view of the economy in the second quarter, but still plan to cut jobs and capital spending, according to a Business Roundtable survey released on Tuesday.

Stocks were nearly flat on Tuesday as investors hunted for bargains after Monday's steep sell-off, offsetting a drop in industrial shares as Boeing announced another delay in its 787 Dreamliner flight.

President Barack Obama told reporters today during a press conference that he has fallen off the wagon sometimes when trying to quit the habit of smoking but never he smokes in the presence of his kids or in front of his family, he said according to the Associated Press.

U.S. chief executives took a slightly less grim view of the economy in the second quarter, but still plan to cut jobs and capital spending, according to a Business Roundtable survey released on Tuesday.

The introduction of a computer code to financial reports was supposed to transform the way investors' could analyze the data. The reality is proving to be a little less exciting.

Lenovo on Tuesday unveiled its new thinner and lighter laptop inspired by its ThinkPad X30, loaded with performance and designed for fashion users starting at $1,599.

Toshiba on Monday revealed its new mobility and entertainment satellite laptop, redesign for economic demands and eco-efficiency.

The United States and European Union are launching a World Trade Organization case against China over its export restrictions on raw materials, officials announced on Tuesday.

Sales of previously owned U.S. homes rose for a second straight month in May but were weaker than expected, adding to growing fears of an anemic economic recovery from a deep recession.

Stocks were little changed on Tuesday as a delay in Boeing's first test flight of the 787 Dreamliner was offset by investors' search for bargains following Wall Street's worst day in two months.

Sales of previously owned U.S. homes rose for a second straight month in May but were weaker than expected, adding to growing fears of an anemic economic recovery from a deep recession.

Netflix chief executive officer predicted in a Tuesday report that DVD rentals at his service will begin to decline at least four years from now as Internet deliveries of movies grow, according to the Wall Street Journal.

Stocks recovered some ground on Tuesday, with all three indexes making slight to moderate gains, after news of a solid U.S. Treasury auction for 2-year notes.

Ford Motor Co will receive nearly $5.9 billion in U.S. government loans to spur development of more fuel-efficient vehicles, the Obama administration said on Tuesday.

Today, Microsoft debuted its new antivirus software, “Microsoft Security Essentials” for a free download for all Windows users.