IBT Staff Reporter

Eight hundred of Chrysler’s 2,400 dealers will be dropped and finance agreements will be renegotiated according to dealers who participated in a conference call with a lawyer, the Detroit Free Press reported.

The International Monetary Fund (IMF) forecasted Monday that the severe economic downturn for the Euro Zone could end during the second half of 2010, but further policy actions especially in the financial sector will be essential to induce this recovery.

For all who claim that rampant inflation is up next, and home price deflation is over, I present the following charts for readers to ruminate on just how much higher existing home sales inventories are relative to some semblance of a trendline, in addition to a long-term chart comparing CPI with the median home price.

The Australian Dollar opens higher than this time yesterday at 0.7646 as the US trade deficit for March came in less-than-expected diminishing demand for safe havens and prompting traders to move back into higher yielding assets.

A U.S. soldier suspected of shooting dead five fellow servicemen at a military clinic in Baghdad was charged with five counts of murder on Tuesday, the U.S. military said.

Apple released the seventh point update to Mac OS X 10.5 Leopard on Tuesday, which has over more than 20 bug fixes.

The U.S. reported the first April budget deficit in over 25 years, specifically $21 billion on a significant drop in individual and corporate tax receipts.

A White House memo released Tuesday challenged an Environmental Protection Agency ruling that could result in the regulation of greenhouse gases because it could have severe consequences for the U.S. economy.

The United States posted its first April deficit in 26 years, a record $20.91 billion shortfall as a deep recession caused revenues to collapse in the year's biggest tax collection month, the U.S. Treasury said on Tuesday.

Intel Corp's orders and billing patterns so far in the second quarter have been slightly better than expected, Chief Executive Paul Otellini said on Tuesday.

The Dow rose on Tuesday as investors scooped up defensive shares, including Pfizer , while energy companies' stocks climbed as oil hit a six-month high.

Energy prices are forecasted to remain low this year due to the economic recession and uncertainty about the recovery, Energy Department said in its short-term energy outlook for May.

The U.S. space shuttle Atlantis was hit by a piece of debris that nicked part of its heat shield that caused a 21-inch stretch of nicks, although Nasa said that the damage did not appear to be serious.

As the market for U.S. office, retail and apartment building loans heads south, investors in commercial mortgage-backed securities and servicers of the loans are feuding over how to best save their skins.

US airways said on Tuesday it will receive $234 million in net proceeds from the full exercise of its previously announced common stock and convertible note offerings from underwriters.

Former Federal Reserve Chairman Alan Greenspan said on Tuesday that

Officials accused extremist militants Tuesday of launching a poison gas attack on Afghan Girls School that caused at least 94 people hospitalized in north eastern Afghanistan.

Spanish Prime Minister on Tuesday announced a subsidy of 2,000 Euros (2,700 dollars) for motorists wanting to buy a new car in a bid to ease recession tension.

Several large U.S. banks undertook big capital-raising efforts on Tuesday, hoping to satisfy regulators who want bigger cushions against a deep recession, or proof that they have enough of a buffer already.

Google Inc unveiled a slew of new and future features on Tuesday, including one that will allow people to better coordinate Internet searches on their cell phones and computers and another that will produce sophisticated automated research reports.

Income investors are snatching up a new form of pseudo municipal bonds known as Build America Bonds (BAB).

Former NBA star Jayson Williams, who played for the New Jersey Nets, has been hospitalized after trashing a New York City hotel.

General Motors Corp shares hit there lowest level since the Great Depression on Tuesday and Nissan Motor Co posted a loss and expected more amid the deep global auto downturn.

Chrysler LLC will offer new buyouts to factory workers at seven of its eight U.S. plants slated for closure under its bankruptcy plans, the United Auto Workers union said on Tuesday.

A recovery in the U.S. housing sector could be as much as two years away, the head of the Federal Deposit Insurance Corp said on Tuesday.

The Dow rose on Tuesday as investors scooped up defensive shares, including Pfizer , while energy companies' stocks climbed as oil hit a six-month high.

Real nonresidential construction tumbled at a record 44 percent annual rate during the first quarter, subtracting over two percentage points from real GDP. A large portion of the drop was due to a pullback in oil & gas drilling and exploration. Building activity is also winding down, particularly in office and commercial construction which includes multi-tenant retail space. The economic downturn ...

Microsoft Corp said on Tuesday that hackers are seeking to attack users of its PowerPoint presentation software for Windows PCs and released patches to protect them against the threat.

Google announced exciting new features at its annual Searchology event at the Googleplex headquarters today, where the company's executives argued that “understanding people, health, communication, education and knowledge” is the next frontier of search.