Reuters - Oil dropped more than $9 on Tuesday, the largest drop in dollar terms in 17 years, as growing concern about the economic health of top energy consumer the United States stirred demand worries.

Reuters - General Motors Corp on Tuesday announced a plan to cut costs by $10 billion, suspend its common stock dividend and sell up to $4 billion in assets in a bid to shore up cash and survive a deep industry slump.

Reuters - A weakening housing market, strained banking system and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.

AFP - Internet auction giant eBay cannot be held liable for trademark infringement for counterfeit items sold through its website, a US judge ruled Monday in a case brought by luxury retailer Tiffany.

Reuters - General Motors Corp Chief Executive Rick Wagoner is slated to announce the automaker's second major restructuring package in six weeks on Tuesday as the company looks to cut costs and win back investor confidence in the face of slumping sales.

Reuters - Buyers showed no hesitation in bidding on Freddie Mac's $3 billion debt sale on Monday, just hours after the U.S. government pledged support for the nation's top mortgage finance agencies, but the steps failed to stem growing alarm on Wall Street.

Reuters - Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.

Reuters - Midwest Airlines, a unit of Midwest Air Group, on Monday said it would cut its work force by 1,200 employees, or 40 percent, making it the latest airline to reduce staffing amid soaring fuel prices.

Reuters - Waste Management Inc on Monday offered to buy Republic Services Inc for about $6.19 billion, potentially derailing the smaller competitor's deal to acquire Allied Waste Industries Inc .

Reuters - Stocks tumbled on Monday as concerns about the credit crisis and financial companies outweighed earlier optimism over the government's proposed rescue plan for mortgage finance companies Fannie Mae and Freddie Mac .