IBT Staff Reporter

The chief executive of Goldman Sachs said on Tuesday the economic crisis had been deeply humbling for financial firms, and banks receiving taxpayer bailout money need to pay back the funds as soon as possible.

The Empire State Building is going green in a model project that will save about $4.4 million a year on energy.

China urged the U.N. Security Council on Tuesday to act carefully in responding to North Korea's rocket launch, maintaining there is a basic distinction between satellite and missile technology.

Spain's Prime Minister Jose Luis Rodriguez Zapatero on Tuesday dumped veteran economy minister Pedro Solbes in a cabinet reshuffle aimed at reviving a government struggling with a deep recession.

U.S. President Barack Obama plans to visit Kazakhstan as part of a wider tour of Central Asia, Kazakhstan's upper house of parliament quoted him on Tuesday as saying.

U.S. President Barack Obama ended his trip to Muslim Turkey on Tuesday by calling for peace and dialogue with Islam and the creation of a Palestinian state living side by side with Israel.

The United States has long served to draw top talent from other countries, particularly into its Information Technology sector, but a new push from lawmakers may limit the number of new workers that can enter the country.

General Motors Corp is in intense and earnest preparations for a possible bankruptcy filing, a source familiar with the company's plans told Reuters on Tuesday.

Four finance centers blacklisted last Thursday in a renewed crackdown on tax fraud were taken off the list on Tuesday after committing to international standards on bank information disclosure.

Pfizer Inc said on Tuesday it will have two research chiefs -- one in charge of traditional medicines and one in charge of biotech drugs and vaccines -- when the drugmaker completes its planned purchase of smaller U.S. rival Wyeth .

More than two-thirds of U.S. chief executives plan additional layoffs and expect sales to decline in the next six months as their confidence in the economy continues to fall, according to a survey released on Tuesday.

Stocks fell on Tuesday as investors braced for what is expected to be another dismal earnings season and fresh worries surfaced over the amount of toxic assets on bank balance sheets.

Partly nationalized British lender Royal Bank of Scotland may cut more than 9,000 jobs in the next two years, or about 5 percent of its total workforce.

U2 frontman, Bono, revealed the band is planning an initiative with RIM, in spite of the band's former marketing ties to Rim rival, Apple.

Australia's government will build a A$43 billion ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money.

Part-nationalized British lender Royal Bank of Scotland said it could shed up to 9,000 jobs over the next 2 years, including 4,500 in the UK, as part of a shake-up of its back-office operations.

Australia's government will build a A$43 billion ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money.

The estimate of toxic debts on bank and insurance balance sheets originating from the U.S. is now $3.1 trillion from $2.2 trillion in October, the International Monetary Fund will likely say later this month, according to a report.

Stock futures pointed to a lower open on Tuesday on fresh worries over the amount of toxic assets on bank balance sheets and investors braced for what is expected to be another dismal earnings season.

Hedge fund manager Arie Assayag is leaving Societe Generale to set up his own independent hedge fund, the bank said on Tuesday.

The OECD said on Tuesday that the four countries on a tax haven blacklist, published as part of agreements at last week's G20 summit, have committed to meeting international standards and will be removed form the list.

Major U.S. retailers likely ended March with lackluster sales as consumers put off Easter and Spring purchases for April.

Major U.S. retailers likely ended March with lackluster sales as consumers put off Easter and Spring purchases for April.

Pier 1 Imports Inc reported a quarterly loss on Tuesday as markdowns ate into the home furnishings retailer's margins.

Stock futures pointed to a lower open on Tuesday after it was reported the International Monetary Fund was set to forecast toxic assets on the balance sheets of financial sheets could reach $4 trillion.

The Empire State Building is going

Toxic debts racked up by banks and insurers could spiral to $4 trillion, new forecasts from the International Monetary Fund are set to suggest, British daily The Times reported on its website without citing sources.

Arctic sea ice, a key component of Earth's natural thermostat, has thinned sharply in recent years with the northern polar ice cap shrinking steadily in surface area, government scientists said on Monday.

U.S. Secretary of State Hillary Clinton on Monday urged tighter controls on cruise ships and tourists in Antarctica to prevent further environmental damage to the fragile region.