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Earnings drive markets higher; Caterpillar soars

Stocks rose slightly on Tuesday as upbeat quarterly results from bellwether companies, including Caterpillar Inc, overshadowed Federal Reserve Chairman Ben Bernanke's cautious outlook for the economy.

CIT clinches $3 billion rescue

CIT Group Inc has clinched $3 billion of emergency financing from bondholders, keeping the struggling lender out of bankruptcy, a person close to the matter said.

Madoff bill would charge rich NY inmates for jail

For anyone who believes crime doesn't pay, tell that to the New York state legislator who introduced a Madoff bill on Monday. Rich New Yorkers convicted of crimes would be forced -- if his bill becomes law -- to pay the state and federal governments for how much it costs to keep them in jail.

UnitedHealth to buy some Health Net operations

Insurer UnitedHealth Group Inc said on Monday it would acquire the northeast U.S. operations of Health Net Inc for about roughly $510 million to expand its presence in that region.

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Charles Schwab denies Cuomo's fraud allegations

Charles Schwab Corp , the largest U.S. online brokerage, denied allegations by New York Attorney General Andrew Cuomo of civil fraud in its marketing and sale of Auction Rate Securities .

Charles Schwab denies Cuomo ARS allegations

Charles Schwab Corp , the largest U.S. online brokerage, denied allegations by New York Attorney General Andrew Cuomo of civil fraud in its marketing and sale of Auction Rate Securities .

More job cuts expected in U.S. defense sector

Big defense contractors could be poised to shed jobs as the Pentagon cuts traditional weapons spending, while smaller, niche companies may ramp up their hiring as the United States expands resources to protect ground troops and computer networks.

ooVoo takes on Skype, Cisco in video conferencing

Start-up ooVoo is hoping to take on everybody from Skype, the Internet telephony arm of eBay, to Cisco Systems with a new video conferencing offer for small businesses.

EU clears Pfizer's buy of Wyeth with conditions

European Union antitrust authorities cleared U.S. drugmaker Pfizer's $68 billion takeover of rival Wyeth on Friday subject to conditions, notably the divestment of animal vaccines.

Wall Street flat as IBM offsets GE, Bank of America

Stocks were little changed on Friday, as stronger quarterly earnings from IBM Corp offset disappointing results from bellwether companies like General Electric Co and Bank of America Corp .

Housing starts rise more than expected

New U.S. housing starts and permits jumped more than expected in June, propelled by a rise in single-family homes, a government report showed on Friday.

McGraw Hills slashes 550 jobs and set to sell BusinessWeek

McGraw-Hill Cos., which is currently trying to sell off its non-profitable BusinessWeek, said Thursday it has cut 550 jobs, or 2.5 percent of its workforce.

CIT talks fall apart, bankruptcy looms

CIT Group Inc , a lender to hundreds of thousands of small and mid-sized U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy.

Bayou fund founder gets 2 years for bail-jumping

Hedge fund swindler Samuel Israel was ordered to serve two more years behind bars on Wednesday for a wild escapade in which he faked his own death in an attempt to avoid a 20-year prison sentence.

Wall St flat as earnings offset retail sales data

U.S. stocks were little changed on Tuesday as positive news from the corporate earnings season offset data pointing to weak consumer demand.

Madoff relocates a second time

Jailed author of the biggest Ponzi scheme in U.S. history is on his the move again. He is currently being transferred from a medium security prison in Atlanta to an undisclosed location, according to the Federal Bureau of Prisons.

Rattner leaves autos force, probe intensifies

Steven Rattner will leave as head of the U.S. autos task force, which oversaw bankruptcies at General Motors Corp and Chrysler Group, at a time when a probe into how the private equity firm he co-founded gained New York pension business has intensified.

Madoff on his way to 150-year prison cell

Jailed author of the biggest Ponzi scheme in U.S. history is on his way to the prison where he will serve his 150-year jail sentence a U.S., a prison official said.

Jon Gosselin's new girlfriend, Hailey Glassman, has criminal record

Jon Gosselin showed off his new girrlfriend, Hailey Glassman, during a trip to St. Tropez on Saturday.

Judge Sotomayor would be top court's first Hispanic

Judge Sonia Sotomayor, who has been nominated by President Barack Obama to the U.S. Supreme Court, begins her confirmation hearings on Monday before the Senate Judiciary Committee.

U.S. federal jury rejects $24 mln Altria tax refund

Altria Group Inc said it will seek a further review of a federal jury verdict against it that threw out $24 million in tax refunds from investments in utilities and other assets.

Madoff will not appeal 150-year sentence: lawyer

Arch swindler Bernard Madoff will not appeal the 150-year prison sentence he received for masterminding a global multibillion-dollar investment fraud, his main lawyer said on Thursday.

AIG slumps after analyst warns of zero equity value

Shares of American International Group Inc plummeted 22 percent on Thursday after a Citigroup analyst said the value of the troubled insurer's equity may fall to zero.

New York indicts 13 in $100 million mortgage fraud

New York prosecutors on Wednesday said 13 people and a mortgage origination company have been indicted on charges of running a multimillion-dollar real-estate fraud that cheated lenders through sham sales.

New York's best kept secrets

New York City has a hidden side. Beyond the iconic landmarks - the Empire State Building, the Statue of Liberty - it hides a cluster of small islands, just waiting to be discovered. The archipelago of New York City is made up of no less than 40 natural and man-made islands.