JAPAN - Three men in charge of nuclear power safety and policy have been sacked amid the ongoing crisis at the tsunami-hit Fukushima Daiichi nuclear plant. Japan's Trade and Industry Minister, Banri Kaieda, said the three senior officials would be held responsible for mishandling the plant and its problems. Radioactive material is still leaking from the plant nearly five months on.
UK - Debt-laden Italy is likely to default, but Spain might just avoid it, according to the British think tank, the Centre for Economics and Business Research. With the countries weighed down by debt, the think tank modelled "good" and "bad" economic scenarios for both.
USA - Marvel Comics has unveiled a new half-black, half-Latino Spider-Man, who replaces the recently killed-off Peter Parker. Miles Morales, introduced in Marvel's Ultimate Fallout Issue 4, is a nerdy teenager from New York City.
EGYPY - Egypt's ex-President Hosni Mubarak has denied charges of corruption and ordering the killing of protesters, on the opening day of his trial in Cairo. He was wheeled on a hospital bed into a cage in court to the astonishment of onlookers outside, correspondents say.
ISLAMABAD, PAKISTAN - Taking bilateral defence relations to a new high, China will give Pakistan a squadron of the advanced J-10B fighter aircraft, a media report said.
USA - The S&P 500 turned negative for the year on Tuesday as the wrangling over the US debt ceiling faded and investors turned their attention to the stalling economy. The broad-based index fell for a seventh day and crashed through the key 200-day moving average in an ominous sign for markets. The seven days of losses mark the longest losing streak since October 2008.
USA - Europe is a "train wreck" and on the "brink of a major financial crisis," Scott Minerd, CIO of the fixed-income firm Guggenheim Partners, told CNBC Tuesday.
GERMANY - After weeks of acrimony, the US Senate votes Tuesday on a compromise measure to raise the country's debt ceiling. The bill has drawn criticism from members of both parties, but it will likely pass just in time to save the US from default. German commentators on Tuesday express their frustration over the brinksmanship.
USA - Moody's Investors Service and Fitch Ratings affirmed their AAA credit ratings for the US while warning that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.
USA - President Barack Obama has signed legislation to increase the US debt ceiling and avert a financial default, after Congress voted in favour of a bipartisan compromise deal. The bill cleared its final hurdle in the Senate by 74 votes to 26, after negotiations went down to the wire.
UK - John Maynard Keynes and Friedrich August Hayek were two prominent economists of the Great Depression era with sharply contrasting views. Friedrich Hayek did not believe it was possible to spend your way out of an economic crash.
UK - A Muslim group in the United Kingdom has launched a campaign to turn twelve British cities - including what it calls "Londonistan" - into independent Islamic states. The so-called Islamic Emirates would function as autonomous enclaves ruled by Islamic Sharia law and operate entirely outside British jurisprudence.
USA - Markets cheered the last-minute arrival of a debt deal in Washington. But beneath those relieving headlines this morning was some much grimmer news: manufacturing around the world, the lifeblood of the global economy, is in the dumps.
RUSSIA - Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
USA - Bank of America (BoA) has posted its biggest quarterly loss after agreeing an $8.5 billion (5.2 billion pounds) settlement related to sub-prime mortgages. The US's largest bank made a loss of $8.8 billion in the three months to the end of June, lower than analysts had expected.