IBT Staff Reporter

Iran's leading authority accused the United States on Tuesday of promoting terrorism in border areas and using arms and money against the Islamic state, in his latest verbal attack on Tehran's arch enemy.

The Palm Pre, the supposed iPhone killer, is set to launch June 6 in the U.S., and will only be available through Sprint, Palm confirmed on Tuesday, ending months of speculation as to when it will be rolled out to the public.

Stocks were little changed on Tuesday as data suggesting no let-up in the housing slump tempered investors' hopes that the recession was moderating.

Western-backed technocrat Salam Fayyad will stay on as prime minister of the Palestinian Authority at the head of a new cabinet to be announced shortly, Palestinian officials said on Tuesday.

American Express said Tuesday it would cut about 4,000 jobs, or 6 percent of its worldwide workforce, along with other reductions in spending, as the company said it was taking a “cautious outlook” as the economy moves toward a recovery.

Sales of smartphones are set to grow 12-15 percent in 2009, said Lee Williams, chief of the Symbian Foundation, the consortium of companies around the world's most popular smartphone operating system.

Morgan Stanley announced today it plans to sell its remaining 27.7 million shares in indexing and analytics company MSCI Inc.

Rodney Ringler is an unemployed blue collar male without a college degree. He's hardly alone. Men like him have been the main victims of the current recession in the United States.

Afghan president Hamid Karzai has no plan to install former U.S. ambassador Zalmay Khalilzad as chief executive of his country, a spokesman said on Tuesday, denying a report in the New York Times.

Indian Prime Minister-elect Manmohan Singh vowed on Tuesday to revive growth and spread the benefits of economic expansion that swept his coalition back to power with a decisive mandate in a general election.

Sri Lanka's military on Tuesday said Tamil Tiger leader Vellupillai Prabhakaran's body had been found, and President Mahinda Rajapaksa urged Tamils to join in rebuilding a nation split by a 25-year separatist war.

The Speaker of Britain's lower house said Tuesday he would step down in June after criticism of his handling of a scandal over lawmakers' expenses that has badly tarnished the reputation of the Mother of Parliaments.

The United States plans to give Pakistan about $100 million in humanitarian aid to help people who have fled fighting between government forces and Taliban militants in the Swat Valley, two sources familiar with the plan said on Tuesday.

Receivers would take control of three hedge funds run by prominent money manager Ezra Merkin and linked to the Madoff fraud, under an agreement between New York's top legal officer and Merkin, lawyers said on Tuesday.

Airline summer travel rates will fall 7 percent as Southwest Airline cuts summer air fares as low as $49, $69 respectively, and other airlines follow suit.

Teen idol Miley Cyrus has a message for Internet critics calling her fat -- cyber-bullying can seriously scar people, leading them to hurt themselves.

MTS, Russia's top mobile phone operator, said on Tuesday it had placed in full a five-year bond worth 15 billion roubles ($464.5 million).

German automaker Daimler AG acquired an equity stake of nearly 10 percent of Tesla Motors Inc. the San Carlos California- based manufacturer of all electric vehicles, the companies announced Tuesday.

Home Depot Inc reported higher-than-expected quarterly earnings as massive cost cuts offset weak sales, but its shares fell as investors found the results disappointing in comparison with those of smaller rival Lowe's Cos Inc .

Producers from the world's biggest wine region are on a mission to tell the world about a renaissance in the south of France whose time may have come on the wings of a global depression.

Release Explanation: This report covers the number of new residential Starts and residential Building Permits issued each month, reported on an annualized basis.

Britain has held talks with investors to gauge their interest in buying its stakes in part-nationalized lenders, and could begin selling its holdings within a year, according to a person briefed on the matter.

The flood of follow-on stock issues in the United States will continue for several weeks but start shifting away from banks, a Morgan Stanley executive said Monday.

Porsche declined to comment on Tuesday on rumors that the carmaker could receive a 3-4 billion euro ($4.09-5.45 billion) investment from an unnamed Kuwaiti investor.

New U.S. housing starts and permits unexpectedly fell to record lows in April, a government report showed on Tuesday, denting hopes that stability in the housing market was imminent.

NEW YORK (Reuters Life!) - Teen idol Miley Cyrus has a message for Internet critics calling her fat -- cyber-bullying can seriously scar people, leading them to hurt themselves.

After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry.

Saks Inc posted a smaller-than-expected quarterly loss on Tuesday as the upscale retailer cut costs and trimmed inventory to offset a steep drop in sales, sending its shares up more than 17 percent.

Stocks were set to fall at the open on Tuesday after data showed new U.S. housing starts and permits unexpectedly slid to record lows in April, tempering hopes of economic stabilization.