NEW YORK

In yet another example of a cash-strapped state seeking to alleviate a crushing budget deficit, the newly-elected governor of New York, Andrew Cuomo, has slashed his salary by 5 percent and may seek to freeze salaries across the state for one year.

The American economy closed out 2010 on a relatively strong note, suggesting an improving economy for this year, according to the Federal Reserve’s “Beige Book” report, a nationwide survey of economic conditions.

Summary of Fed Beige Book, January 12, 2011

Wal-Mart’s (NYSE: WMT) efforts to establish its first footprint in the vast New York City market promises to be long and bumpy ride, as forces opposed to the discount retailing giant’s presence gather their resolve. Meanwhile, the company seems equally determined to build a store in the city.

New York City public schools are open despite the accumulation of as much as nine inches of snow. Meanwhile, a number of private/parochial schools are closed today.

U.S. Rep. Peter King, R-NY, is the new chairman of the House Committee on Homeland Security and, in that capacity, is planning hearings into, as he said, the radicalization of the American Muslim community and homegrown terrorism.

Talking to people in the Chinese market over the weekend, writes Jeff Toshima, Tokyo director of the World Gold Council, in today's Nikkei Money, I was amazed to discover the number of gold saving accounts at Industrial and Commercial Bank of China has grown above 1,000,000 within a year of ICBC launching the service.

Gold prices rose in Europe on Wednesday, as a retreat in the dollar, rising oil prices and caution ahead of a sale of Portuguese bonds later in the day all boosted interest in the precious metal.

As the New York City faces season's third winter storm in less than three weeks, here are some key facts on weather conditions, flight delays, cancellations and more.

Within weeks from a blizzard that hit New York City halting travel, city Mayor Michael Bloomberg declared a weather emergency from Tuesday evening through Wednesday afternoon in many parts of the region.

As we take our first steps into 2011, here are some science and technological breakthroughs that the world witnessed in 2010.

State-owned Bank of China Ltd has offered yuan trading to its U.S. customers, a sign that Beijing this year may increasingly promote the use of the Chinese currency in major financial centers.

Producers are trying their best to persuade him to enter rehab again

Ted Williams, the Ohio homeless man who last week created a media sensation with his smooth radio voice and poignant story, has been detained, and then released by Los Angeles Police Department (LAPD).

Metropolitan Museum's Costume Institute received a $10 million donation from philanthropists, Lizzie and Jonathan Tisch, said in a statement on Tuesday.

Lawmakers from both sides of the aisle are calling for new gun-control legislation in the wake of the shootings in Tucson, Arizona last Saturday that left six people dead and 15 injured, including U.S. Rep. Gabrielle Giffords, D-AZ, who remains in critical condition, as do five other victims.

Shares of gunmaker Sturm, Ruger & Co. (NYSE:RGR) are trading higher today apparently boosted by a surge in sales of handguns in Arizona following the weekend massacre in Tucson by Jared Lee Loughner.

The attempted assassination of U.S. Rep. Gabrielle Giffords, D-AZ, and the murder of six innocent bystanders, at a “meet and greet” with constituents on Jan. 8, was a shocking and tragic event nationwide. Unfortunately, trying to kill American politicians is neither unique nor new.

After months of rumors, Verizon subscribers will finally get the iPhone.

For the third year in a row, the state of Maryland emerged on top when the scores in all six categories that make up the Quality Counts framework were aggregated.

Media has been set abuzz with the expectations that the Verizon's Tuesday, 8 a.m. announcement in New York will be the news that the iPhone will be available on its network. Here are some factors on how Verizon-iPhone tie-up would affect consumers and competition