Reuters – The “systemic risk” regulator envisaged under a U.S. overhaul of financial regulations should not add an unnecessary layer of hands-on supervision, the U.S. Chamber of Commerce said on Tuesday.

Reuters – Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3 percent.

Reuters – New U.S. housing starts and permits surged in May from record lows, while producer prices rose at a slower pace despite higher gasoline prices, boosting prospects for the economy’s recovery from recession.

Reuters – Stocks rose on Tuesday as renewed U.S. dollar weakness lifted shares of oil and other natural resource companies, but concern that the pace of the economic recovery may be tepid limited a broad advance.

AP – California state and local officials are suing Target Corp., accusing the retailer of dumping hazardous waste in landfills around the state.

Reuters – U.S. home-builder sentiment slipped in June, a private survey showed on Monday, as higher mortgage rates and an ongoing credit crunch dampened expectations for the sector.

AFP – Wall Street stocks tumbled Monday after the Group of Eight finance chiefs warned the global economic outlook remained uncertain, despite encouraging recovery signs.

Reuters – U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America Corp’s lending portfolio, in another sign that consumers remain under severe stress.

Reuters – Two weeks before the sentencing of Bernard Madoff for his $65 billion swindle, the judge who will decide his fate has received more than 100 angry letters from defrauded investors suggesting his punishment.