Mark Brooks

The House passed the measure on a bipartisan 285-144 vote as majority Republicans back away from their previous demand that any increase in the government's borrowing cap be paired with an equivalent level of spending cuts.

The GOP legislation marks a tactical retreat by House Speaker John Boehner, R-Ohio, who is eager to avoid a potential first-ever default on U.S. payment and debt obligations as he wrestles with Obama and his Democratic allies over taxes, spending and the deficit.

The Washington Democrat says the measure will call upon the wealthy to pay their "fair share" in taxes and defend programs for senior citizens and middle-class families.

Wheat for March delivery settled down 12 cents to $7.7925 a bushel Tuesday.

The company's doubters have backed their conviction with billions of dollars.

Groupon spokeswoman Julie Mossler said Tuesday that the move is based on the deals' performance as well as "current customer and merchant feedback." These, she says, have made it "clear they're not a fit right now."

The dollar fell to 88.71 Japanese yen in afternoon trading from 89.73 yen late Monday.

New survey results Tuesday show a steady drop in the number of CEOs worldwide who are "very confident" their companies will grow this year. The number fell to 36 percent from 40 percent last year and from 48 percent in 2011.

In keeping with the objective of inaugural addresses, Obama chose to draw attention to the aspirations he hopes will define him rather than the conflicts that have characterized his relations with a divided Congress.

The reports tying Microsoft to the Dell buyout talks cited people familiar with the negotiations who didn't want to be identified.

Wal-Mart's stricter measure, along with other changes to its policy, comes amid increasing calls for better safety oversight after a deadly fire at a Bangladesh factory that supplied clothing to Wal-Mart and other retailers.

Benchmark oil rose 66 cents to $96.22 at midday on the New York Mercantile Exchange.

The White House in the past has voiced reservations about a short-term debt ceiling extension.

Cyprus is negotiating a bailout of as much as €17 billion ($22.65 billion) -- roughly equivalent to its annual economic output -- with the so-called "troika" of the European Commission, the European Central Bank, and the International Monetary Fund.

Treasury said Friday that the plan would be implemented by JPMorgan Securities and Citigroup Global Markets, the two financial firms it has hired to sell its remaining GM stock.

The Houston-based company said in its weekly report Friday that 1,316 rigs were exploring for oil and 429 for gas.

Growth in China rose 7.9 percent in the three months ending in December, up from 7.4 percent the previous quarter.

The House is hoping to force the Senate to approve a budget resolution by conditioning pay for members of Congress on passing a budget.

The IMF contributed to Portugal's €78 billion ($104 billion) financial rescue in May 2011 that spared the debt-heavy country from bankruptcy but demanded cutbacks.

The department's monthly report also shows that steady hiring nationwide in the past two years has lowered the unemployment rate in many parts of the country.