Shanghai and Beijing are becoming lands of opportunity for recent American college graduates who face unemployment nearing double digits at home.

On Tuesday, China reported solid economic data for July, two major Asian central banks kept interest rates unchanged and business confidence rose to a two-year high in Australia.

Passenger-rights legislation will be included in a bill to reauthorize the Federal Aviation Administration, to be considered this fall.

The mining company said Tuesday it has yet to be presented with any evidence to support the detention of four of its staff.

Alternatives to taxis are getting more consideration as cheaper ? and sometimes quicker ? ways to get to the airport.

Insurer Friends Provident agrees a £1.86bn takeover proposal from investment firm Resolution - having opposed earlier offers.

Reuters - Australia brushed off on Tuesday a Chinese report accusing iron ore miner Rio Tinto Ltd of overcharging and spying on Chinese steel mills, saying it had not been officially sanctioned.

Brioni will introduce a T-shirt to its line as part of a move to expand its casual-wear offerings and reach a younger clientele.

China's economy shows signs of improving, with annual growth rates in industrial output and retail sales rising last month.

A lack of homes for sale in the UK propped up property prices in July, says the Royal Institution of Chartered Surveyors.

Bad debt provisions of more than £100m lead to a £69m loss at Northern Bank in the first six months of 2009.

Reuters - World stocks ticked slightly higher on Tuesday and Japan's Nikkei hit a 10-month closing high despite disappointing Chinese data that drove up the yen.

Reuters - Anglo-Australian miner Rio Tinto said on Tuesday it had yet to be presented with any evidence to support the detention of four of its China-based staff on suspicions of stealing state secrets.

World stocks ticked slightly higher and Japan?s Nikkei hit a 10-month closing high despite disappointing Chinese data that drove up the yen.

Japanese consumer prices fell by a record 1.7% in the year to June, figures show, as interest rates are kept on hold.

Russia's economy shrinks sharply in the second quarter on an annualised basis, but grows compared with the first quarter.

How biofuels can help aviation clean up its carbon

The number of mortgages for homebuyers granted in June rose by 23% compared with May, according to UK lenders.

The Serious Fraud Office says it does not intend to launch a criminal probe into the collapse of MG Rover.

The Indian owner of Jaguar Land Rover, Tata, says it has secured private funding to help the carmaker.

One of the UK's biggest oil refineries, which employs 800 permanent staff in Cheshire, could be sold off by Shell.

Reuters - The total value of distressed-debt deals, where creditors use their debt positions to take ownership of troubled companies, has touched $84.4 billion this year, the Wall Street Journal said, at a pace close to double that of 2008.

Resolution?s deal for Friends Provident may be the first step toward a shakeup of the British life insurance industry.

Oil prices edge up to more than $71 after data from China shows oil imports have surged to a record level.

The UK signs a deal to recover lost tax from the 5,000 British investors holding bank accounts in Liechtenstein.

Finland, the Netherlands and Sweden have the cheapest mobile charges, while Canada, Spain the US have the most expensive, a report says.

Retail sales rose again in July, as the wet weather lifted demand for homeware goods, says the British Retail Consortium.

The combined deficit of the UK's private sector final salary pension schemes shrank in July, the Pension Protection Fund says.

The world's biggest hotel group warns it has seen no sign of recovery - saying it could take two years for trade to reach previous levels.

Reuters - Stock index futures pointed to a flat open on Tuesday ahead of key data on productivity and labor costs, and before the Federal Reserve kicks off a policy meeting.

Reuters - Troubled lender CIT Group Inc said on Tuesday it has delayed filing its second-quarter report with regulators and said if it could not complete its debt tender or arrange other financing, it would file for bankruptcy.

Reuters - The Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.

Reuters - Oil prices crept up toward $71 a barrel on Tuesday, spurred by record fuel imports to the world's second biggest energy user China, but the market was cautious ahead of the next sets of supply and demand data.

The company said that in the city, most drivers will rely on the rechargeable battery and should get at least 230 miles per gallon.

Markets turn lower as the Fed Reserve policy board opens a two-day meeting.

In the current recession, companies have been using the productivity gains to bolster their bottom lines in the face of declining sales.

US productivity rose at its fastest annual pace in nearly six years during the second quarter of 2009, official figures show.

Almost 155,000 new cars have been ordered through the government's scrappage scheme, half the total provided for.

Reuters - Stocks extended losses on Tuesday after data showed inventories at wholesalers dropped in June, and downgrades on banks prompted investors to sell stocks.

Reuters - U.S. non-farm productivity in the second quarter rose at its fastest pace in six years as companies slashed costs to protect profits, government data showed on Tuesday.

Reuters - The U.S. Treasury Department should consider expanding programs to cleanse troubled assets from bank balance sheets if current efforts fail to restart markets or if economic conditions worsen, a U.S. bailout watchdog panel said on Tuesday.

Reuters - Oil prices fell by more than $1 below $70 a barrel on Tuesday, giving up earlier gains as doubts resurfaced over the pace of economic recovery and any rise in fuel demand.

AP - Book retailer Borders Group Inc. said Tuesday it will elect five new directors at its board meeting in September.

The car rebate plan is trying to balance two very different objectives: saving Detroit and changing the habits of consumers.

Investors will scour the Fed statement on Wednesday to glean some insight into what the central bank thinks.

Britain signed a tax agreement with Liechtenstein that would allow British holders of secret accounts to declare their holdings voluntarily in exchange for a reduced penalty fee.

The government launches an investigation into the gap between people out of work and those claiming jobless benefit.

Reuters - Stocks slid more than 1 percent on Tuesday after an unexpectedly large drop in inventories at wholesalers raised doubts about an economic recovery and bank shares skidded after a prominent analyst warned that fundamentals for the industry have not improved.

Reuters - U.S. output per worker rose at its fastest pace in six years during the second quarter as businesses wrung more from shrinking staff in a sign that recovery from recession will be slow and unlikely to create a surge in hiring.

Frank DiPascali has been described as a crucial figure in the $65 billion Ponzi scheme run by Bernard Madoff.

The country will run a budget deficit of more than $100 billion next year, and will need to borrow heavily.

Oil prices fall after Opec said it now expected demand for its crude to decline further than first predicted next year.

Liechtenstein and UK sign deal to end tax secrecy

Reuters - Stocks slid on Tuesday after a prominent banking analyst warned that the sector's fundamentals have not yet improved, sparking a sell-off in bank shares.

In Dresden, Germany is confronting a question the United States faced long ago: should future investment go to R.& D. or manufacturing?.

In the city, most drivers will rely on the rechargeable battery and should get at least 230 miles per gallon, G.M. said.

Frank DiPascali has been described as a crucial figure in the $65 billion Ponzi scheme run by Bernard Madoff.

Investors will scour the Fed statement on Wednesday to glean some insight into what the central bank thinks.

Frank DiPascali, Bernard Madoff's former finance chief, is expected to plead guilty shortly for his role in the $65bn fraud.

Reuters - Stocks ended lower on Tuesday after a banking analyst said the sector's fundamentals have yet to improve, and a drop in wholesale inventories increased worries about an economic recovery.

Reuters - The U.S. economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday.

AFP - Seven Norwegian towns, some clustered around the Arctic Circle, have sued US banking giant Citigroup for more than 200 million dollars of losses plus damages linked to the sub-prime mortgage crisis, their lawyer said Tuesday.

A longtime employee of the disgraced financier Bernard L. Madoff, Frank DiPascali, pleaded guilty to his role in the Ponzi scheme.

Running out of space in its landfills, China is racing to build incinerators that have become a growing source of toxic emissions.

General Motors said its Chevrolet Volt electric vehicle, scheduled for release in 2011, would have a fuel rating of 230 miles a gallon in city driving.

The planned $5.3 billion redevelopment of the former Union Pacific Railroad yards will almost double the size of Sacramento?s downtown.

Developers in New Jersey are finding desirable retail tenants for their residential projects. And given the economic slump, retailers are able to drive a harder bargain.

Frank DiPascali, Bernard Madoff's former chief financial officer, pleads guilty for his role in his boss's $65bn fraud.

Reuters - Lehman Brothers Holdings Inc can pursue claims on assets in a bankruptcy case expected to set a precedent for treatment of derivatives in complex investment products, a New York court said on Tuesday.

Reuters - U.S. output per worker rose at its fastest pace in six years during the second quarter as businesses wrung more productivity from fewer staff in a sign that a recovery from recession will be slow and unlikely to create a surge in hiring.

Britain signed a tax agreement with Liechtenstein that would allow British holders of secret accounts to declare their holdings voluntarily in exchange for a reduced penalty fee.

All three major indexes fall more than 1 percent as traders move to the safety of consumer staples and government debt.

The planned $5.3 billion redevelopment of the Union Pacific Railroad yards will almost double the size of Sacramento?s downtown.

Because employers slashed payrolls already, their lower expenses may allow them to cut fewer workers from now.

China charges employees of mining firm Rio Tinto with stealing trade secrets and taking bribes, which the company denies.

The Bank of England will reveal later how it expects the UK economy to perform over the next two years.

The combined deficit of the UK's private sector final salary pension schemes shrank in July, the Pension Protection Fund says.

Reuters - Chinese prosecutors have formally arrested four employees of mining giant Rio Tinto on suspicion of violating commercial secrets and bribery, the official Xinhua news agency reported on Wednesday.

As China runs out of landfill space, it is racing to build incinerators, a growing source of toxic emissions.

Frank DiPascali, a longtime employee of Bernard L. Madoff, pleaded guilty to his role in the Ponzi scheme.

Worried about seeming ostentatious, major businesses that entertain clients do so very quietly.

The automaker says it wants to attract buyers who value economy and technology over size and horsepower.

Army officials say smaller technologies and robotic tools could make a difference for the soldiers who take on some of the most dangerous missions hunting out insurgents.

As more investment goes to research, Germans are confronting the idea that manufacturing may not be their economy?s indispensable foundation.

Banks in Asia largely steered clear of the complex mortgage instruments that led to the collapse of some major Western banks.

The economy declined 10.9 percent in the second quarter compared with a year ago, but it grew 7.5 percent compared with the first quarter.

The workers face charges of commercial bribery and trade secrets infringement, but more serious charges of espionage were not mentioned.

?Lights, Camera, Fashion,? the retailer?s campaign saluting the movie industry, features classic and independent films and free movie tickets and DVDs.

The president wants to protect small municipalities and unsophisticated investors by limiting their eligibility to trade in over-the-counter derivatives.

An initial public offering could help the chain take advantage of a favorable turn in the market for hotel stocks.

Resolution, a buyout firm, said the company was looking for further acquisitions in the insurance sector.

Judge William J. Zloch denied a request to delay sentencing of Bradley Birkenfeld, who admitted helping American clients of UBS evade taxes.

The founder, Timothy Barakett, said that his partner would continue to run a third fund.

SABMiller of London will double production capacity at its Zambian operations this year after spending $100 million over two years refurbishing its plants in the country.

Prime Minister Stephen Harper of Canada and President Ricardo Martinelli of Panama signed a free trade agreement, continuing Canada?s efforts to bolster investment and trade in the region

Pakistan plans to import 375,000 metric tons of sugar to reduce local prices.

UBS has hired more than 20 bankers for its fixed-income business as it strives to put its investment bank back on track after heavy losses in the credit crisis.

Reuters - Red hot auto sales under the U.S. government's 'cash for clunkers' incentive began to cool as dealer inventories tightened and showroom traffic showed signs of leveling off from its frantic pace of a week ago.

The workers face charges of commercial bribery and trade secrets infringement, but more serious charges of espionage were not mentioned.

Two giant rivals team up to try to fend off competitive threats from the likes of Google and Apple.

Reuters - Lawyers for Taylor, Bean & Whitaker Mortgage Corp, the 12th-largest U.S. mortgage lender, said in court papers last week that a 'bankruptcy filing is imminent' for the lender after it was forced to shut down mortgage lending operations.