IBT Staff Reporter

Belgian scientists are developing a cuddly green robot to help ease the anxieties of children in hospital.

The International Monetary Fund said in a Global Financial Stability Report that quick and coordinated government action is needed to prevent a much more intense and prolonged economic recession.

Astronomers have discovered an Earth-like planet known as Gliese 581d in which European researchers believe is a habitable zone with potential to support life.

Boeing Co., the world's second-largest commercial aircraft maker, said Tuesday its first quarter earnings may fall after its production cut it is set to announce tomorrow.

Investors are looking to Microsoft Corp's earnings report on Thursday for a sign that the worst may be over for the economy and that the recent surge in technology stocks is not pure froth.

Stocks rose on Tuesday after Treasury Secretary Timothy Geithner indicated most banks have sufficient reserves to protect against possible losses, sparking a rebound in bank shares.

President Barack Obama nudged Israeli Prime Minister Benjamin Netanyahu on Tuesday to accept the goal of a Palestinian state, as he pressed Israel and the Palestinians to step back from the abyss.

Chrysler LLC's first-lien lenders have submitted a counter-offer to the U.S. Treasury that would swap some $7 billion in debt for equity in a restructured automaker allied with Fiat SpA , according to a person with knowledge of the closed-door talks.

The motives behind the accused Craigslist Killer remain a mystery but police are eying gambling issues as a possible motive for accused Craigslist killer Philip Markoff’s alleged assaults on Boston-area escorts.

Somali pirates freed a chemical tanker and its 23 member Filipino crew Tuesday after holding them hostage for more than five months, the shipped owner and officials said.

Yahoo Inc said it would cut 5 percent of its workforce worldwide after reporting quarterly profit that met Wall Street expectations.

Delta Air Lines Inc and United Airlines said Tuesday its first-quarter loss beat analysts’ estimates in spite of fuel prices and slowing travel demand, sending shares up in morning trading.

The U.N. rolled out a new website on Tuesday that offers free access to rare manuscripts, books, films and map ranging from 8,000 old paintings to recent books.

Kansas City Federal Reserve Bank President Thomas Hoenig bluntly rejected the argument that any troubled banks are too big to fail at the congressional Joint Economic Committee on Tuesday.

The Treasury Department is considering giving banks and investors billions of dollars in fresh incentives to modify troubled mortgages and save homeowners from foreclosure, sources familiar with official deliberations said.

Emulex Corp. shares surged Tuesday after chipmaker Broadcom Corp. made a $763.5 million unsolicited buyout offer.

U.S. manufacturing bellwethers Caterpillar Inc and United Technologies Corp reported on Tuesday that falling global demand for their big-ticket products battered first-quarter results.

MUZU.TV, an Irish-based video website which has won plaudits from the music industry for the way it pays artists when their music is played online, has signed a deal with the world's largest label Universal.

Bank of New York Mellon Corp and Northern Trust Corp , two large U.S. custodial banks, reported disappointing profit as declines in client assets depressed fees, while State Street Corp topped forecasts.

Oracle is going to cut jobs in an effort to make its Sun Microsystems Inc acquisition profitable, according to analysts.

President Barack Obama left the door open on Tuesday to prosecuting some U.S. officials who laid the legal groundwork for harsh interrogation of terrorism suspects during the Bush administration.

French Electricite de France S.A. (EDF) has been approved to acquire three nuclear power plants in New York for $4.5 billion, the New York State Public Service announced Tuesday.

Fiat is totally focused on clinching a deal with U.S. car maker Chrysler LLC, a source close to the Italian industrial group said, even though top executives have said there are alternatives.

Stocks rose on Tuesday after U.S. Treasury Secretary Timothy Geithner said the vast majority of banks are well capitalized, soothing worries over the need for the struggling sector to raise more money.

Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.

The U.S. Defense Department is taking back responsibility for billions of dollars in pay and benefits for veterans, a task handled since 2002 by Lockheed Martin Corp, the Pentagon's No. 1 contractor by sales.

Raser Technologies Inc. unveiled Monday a new plug-in hybrid extended-range electric vehicle technology able to transform a variety of full-sized SUV's including the Hummer, and light trucks into some of the cleanest vehicles.

On Tuesday, VMware, Inc. announced the vSphere 4, which the company called the first operating system for building the internal cloud.

Banks and other financial institutions around the world will eventually need to write down assets by $4.1 trillion in order for global financial stability to be restored, the International Monetary Fund said on Tuesday.