TOKYO (AP) — Japan reports its trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs.

Read more here: Japan's trade deficit hits $8.6 billion in April

By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) – Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low. …

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The IRS should move unilaterally to fix the law sitting at the root of the agency’s targeting of conservative groups, according to Senate Democrats who grilled the agency’s two most recent chiefs at a Senate Finance Committee hearing on Tuesday.

Read more here: Who's to blame for murky regulation in IRS scandal: Agency or lawmakers?

NEW YORK (Reuters) – UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports. U.S. District Judge Jesse Furman in Manhattan found that Trevor Murray, who was fired in February 2012, could move forward with his case. Murray alleges that after he complained to superiors, the Swiss bank retaliated against him in violation of the Dodd-Frank Act. …

Read more here: Ex-strategist can sue UBS as whistleblower: U.S. judge

By David Henry TAMPA, Florida (Reuters) – Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co took an unusual step to fight off investors seeking more oversight of his activities – he hinted he might quit. And it worked. At the bank's annual meeting on Tuesday, JPMorgan shareholders voted down a proposal to strip Dimon of his chairmanship, giving the measure even less support than last year. Investors showed some unhappiness with the bank's management by only barely re-electing three directors who oversaw a massive trading loss last year. …

Read more here: Dimon clings to JPMorgan chairman title, after fight

In effort to curb ongoing market loss to Qualcomm and Samsung, NVIDIA has continued to aggressively upgrade its quad-core Tegra 4 mobile processor. The company on Tuesday announced that its Tegra 4i CPU, a variant of the Tegra 4 that includes an integrated LTE modem, has been updated to support LTE-Advanced networks with speeds of up to 150Mpbs, an increase from traditional LTE speeds of 100Mbps. NVIDIA notes that because of its “software defined radio technology” it can add support for new technologies with a simple software update, making the chip more future-proof than its competitors’. In the future, the company is also planning to update the processor to be compatible with voice-over-LTE technology. NVIDIA’s press release follows below. NVIDIA’s mobile

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WASHINGTON (AP) — The Senate Judiciary Committee has approved far-reaching immigration legislation that gives a chance at citizenship to millions living in the country illegally.

Read more here: Senate panel approves immigration bill

Senate Minority Leader Mitch McConnell said he wouldn't block the bipartisan immigration overhaul on Tuesday, and Senate Judiciary Committee Chair Patrik Leahy said he will hold off — “with a heavy heart” — on a controversial amendment offering green cards to spouses of gay couples, even as Weekly Standard editor Bill Kristol came out against the bill, and 150 conservatives signed a letter demanding senators reject it. “I think the Gang of Eight has made a substantial contribution in moving the issue forward,” McConnell said, saying he was “hopeful” a bill could pass. …

Read more here: Since When Did It Get So Easy to Pass Immigration Reform?

EG Live LLC did not conduct any background checks or supervise the doctor who was later convicted of killing Michael Jackson, a corporate attorney testified.

Read more here: Lawyer says no background check done on Jackson's doctor

(Reuters) – The Charlotte Bobcats want to take a step back in time and restore an old nickname to the city. The National Basketball Association (NBA) team will ask the league’s board of governors in July to approve changing the franchise’s name to Charlotte Hornets effective with the 2014-15 season, Bobcats owner Michael Jordan said on Tuesday. Charlotte’s original NBA team enjoyed sellout crowds as the Hornets between 1988-2002 before then-owner George Shinn moved the franchise to New Orleans. …

Read more here: Charlotte franchise wants to bring back Hornets nickname