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Auto, factory data hint at some momentum in economy

WASHINGTON - U.S. new motor vehicle sales in June were poised to record their strongest month in more than 5-1/2 years and factories posted a second straight month of gains in new orders in May, indicating some pick-up in economic activity. | Video

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Obama's Power Africa backer calls weak competition an investment incentive

DAR ES SALAAM - Nigerian businessman Tony Elumelu, who backed President Barack Obama's Africa Power initiative with a $2.5 billion investment pledge, said on Tuesday the lack of competition in the continent's nascent power sector makes it an investment gem.

2:38pm EDT

GE Capital, AIG will not appeal US risk panel systemic tag

WASHINGTON - GE Capital and American International Group Inc both signaled on Tuesday that they will not appeal a proposal by the new U.S. risk council to designate them as systemically important, a tag that will subject the companies to tougher regulations.

4:49pm EDT

IRS battles tech companies over 2004 offshore tax holiday

WASHINGTON - The Internal Revenue Service and two technology firms are fighting in court over tax bills from a 2004 corporate tax holiday, with other multinationals watching closely for a result that could come any day, said tax lawyers.

4:38pm EDT

Supreme Court declines Cablevision stay application

WASHINGTON - The U.S. Supreme Court on Tuesday declined a Cablevision Systems Corp request seeking a stay of National Labor Relations Board proceedings in which the company is involved.

4:47pm EDT

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