IBT Staff Reporter

Hasbro Inc is cutting about 170 jobs as the second-largest U.S. toy company tries to recover from sluggish sales during the holiday season.

Allen Stanford was convicted on Tuesday of running a $7 billion Ponzi scheme, a verdict that caps a riches-to-rags trajectory for the former Texas financier and Caribbean playboy.

Molson Coors Brewing Co said on Tuesday it will launch Coors Light Iced Tea and other new products, as the beer company fights to win a greater share of the struggling beer market.

One of the world's most-wanted cyber hackers secretly became an FBI informant last year and helped bring in five other suspected leaders of the loose-knit international Anonymous group who were charged with computer crimes on Tuesday.

Netflix Chief Executive Reed Hastings has quietly met with some of the largest U.S. cable companies in recent weeks to discuss adding the online movie streaming service to their cable offerings, according to sources familiar with matter.

The Dow dropped more than 200 points on Tuesday, handing Wall Street its worst day in three months on renewed fears of a disorderly default in Greece and concerns that China's slowdown would hit global growth.

Netflix Chief Executive Reed Hastings has quietly met with some of the largest U.S. cable companies in recent weeks to discuss adding the online movie streaming service to their cable offerings, according to sources familiar with matter.

The economy likely recorded a third month of solid job gains in February, which could further reduce the chances of additional monetary stimulus from the Federal Reserve.

Big payouts to victims of phone-hacking by Rupert Murdoch's now-defunct News of the World paper are set to drive up the damages awarded in privacy cases in Britain, according to a recent judgment and experts in media law.

The Dow dropped more than 200 points on Tuesday, handing Wall Street its worst day in almost three months on renewed fears of a disorderly default in Greece and concerns that China's slowdown would hit global growth.

Stocks fell the most in nearly three months on Tuesday, with the Dow tumbling more than 200 points as the risk of a disorderly default in Greece and a reduced growth target in China dented recent confidence in the global economic recovery.

Athens turned up the heat on its creditors on Tuesday as it sought to secure a bond swap that will cut its mountainous debt, while the main bondholders group warned a disorderly default would cause more than a trillion euros of damage to the euro zone.

Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again.

Bankruptcy can be just about as traumatic as it gets for a company, its employees, customers, and suppliers. The only thing worse - going through it again, and again.

President Barack Obama said on Tuesday it was only a matter of time before Syria's President Bashar al-Assad left office, but added it was a mistake to think the U.S. could take unilateral action there.

A cybersecurity bill introduced by Republican Senator John McCain could dramatically expand the domestic reach of U.S. intelligence agencies and potentially give them massive troves of emails, civil liberties advocates said.

Google Inc is renaming its online storefront for music, books and digital goods, its latest move to raise its profile in the market for electronic content sales and to better compete with Apple Inc and Amazon.com Inc.

The Justice Department plans to take action in the coming months against individuals involved in corporate fraud, Attorney General Eric Holder said on Tuesday, adding that fines against companies are not enough of a deterrent.

Allen Stanford was convicted on Tuesday of running a $7 billion Ponzi scheme, a verdict that caps a riches-to-rags trajectory for the former Texas financier and Caribbean playboy.

Lehman Brothers Holdings Inc's record $639 billion bankruptcy ended on Tuesday, clearing the way for it to start distributing about $65 billion to creditors starting on April 17, court documents show.

Six suspected leaders of the international hacking organization known as Anonymous were charged by U.S. authorities of computer crimes, dealing a major blow to the loose-knit group that has wreaked havoc on the websites of government agencies and major corporations.

British Web users face having their Internet connections throttled or suspended if they are found to have downloaded music or movies illegally after Internet service providers BT and TalkTalk lost a court appeal on Tuesday.

Stocks fell the most in nearly three months on Tuesday with the Dow tumbling more than 200 points as recent government data rekindled concerns about global growth and a deadline loomed for private holders of Greek debt to agree to hefty losses.

General Motors Co's alliance with French peer PSA Peugeot Citroen is just one part of GM's plan to fix its loss-making Opel unit, Vice Chairman Steve Girsky said, though he declined to say what would come next in the plan.

Russia rebuked the U.S. ambassador via Twitter on Tuesday after he tweeted his concern at the detention of protesters who challenged Vladimir Putin's presidential election victory.

U.S. authorities said on Tuesday top members of the LulzSec computer hacking group were arrested and its leader had previously pleaded guilty to carrying out over a dozen cyber attacks on major companies.

Stocks were on track to post their worst day so far in 2012 on Tuesday as recent government data rekindled concerns about global growth and as a deadline loomed for private holders of Greek debt to agree to hefty losses.

Economists are increasingly confident that Ireland will avoid falling back into recession when quarterly growth figures are released later this month, but the economy faces growing pressure from weak domestic demand, a poll showed on Tuesday.

Just as the assembly lines making them prepared for a five-week shutdown due to slack demand, General Motors Co's Chevrolet Volt and Ampera plug-in electric hybrid cars were named European Car of the Year at the Geneva Auto Show.