A former top gallery owner has pleaded guilty of defrauding his investors $120million. He sold artwork that did not belong to him and scamming others into investing in his 'fake' projects. he will face a prison sentence of six and 18 years if found guilty.

The US Federal Reserve sat on its hands and left interest rates unchanged at its meeting overnight Tuesday our time.

Cisco Systems have today unveiled a new internet router named CRS-3, which has been labelled as a faster and smarter router in comparison to its contemporaries.

After a deal to sell the brand to a China company fall through, GM will end the Hummer brand.

Troubled carmakers Toyota now face a daunting task of recovering their tarnished reputation after subpoenaed internal documents by the US Congress revealed that the company had negotiated and compromised on its safety measure recalls.

The increasing amount of debts for the US has the potential to set off another economic crisis, Federal Reserve Bank of Kansas City President Thomas Hoenig said during a speech today.

News Corporation has announced that Myspace chief executive Owen van Natta resigned today, barely a year since being hired last year to help Myspace rediscover their place as among the top social networking sites in the world.

The relationship between software manufacturers Adobe Systems and electronics conglomerate Apple has been strained ever since Apple launched its new iPad tablet globally last month, according to the Wall Street Journal.

A Republican lawmaker said on Wednesday he is inviting Toyota Motor Corp President Akio Toyoda to meet members of Congress the week of February 22, but the automaker said the executive's travel plans had not been determined yet.

U.S. President Barack Obama's plan to separate core commercial banking from some higher-risk activities in financial conglomerates and to place a moratorium on further consolidation could help to avoid a new financial crisis by resolving some major risks inherent to the current financial system.

A year after the Lehman Brothers collapse, Federal Reserve chief Ben Bernanke said on Tuesday the recession was likely over, while data supported hopes that recovery from the worst downturn in decades was advancing.

President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers' collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.

Financial markets are likely to remain buffeted by uncertainty over government policy despite an unprecedented pledge by the world's top finance officials to cooperate as the global economy emerges from recession.

U.S. Senator Edward Kennedy, a towering figure in the Democratic Party who took the helm of one of America's most fabled political families after two older brothers were assassinated, died at age 77, his family said.

The Federal Reserve is expected to end its buying program of long-term government securities at a meeting that concludes on Wednesday, but keep U.S. interest rates steady at near zero amid signs the economy is stabilizing from a deep recession.

Four more bodies were pulled from the Hudson River on Sunday and divers searched for the other two victims of a collision between a small plane and a helicopter that killed nine people, including five Italian tourists.

Two American journalists freed by North Korea tearfully reunited with their families in the United States on Wednesday while Washington tried to squelch talk of a breakthrough with Pyongyang.

U.S. and Chinese officials began grappling on Monday with how and when to withdraw the huge economic stimulus spending each has applied and to put in place measures to promote steadier long-term growth.

North Korea has no friends left to shield it from the international community's demands that the country scrap its nuclear activities, U.S. Secretary of State Hillary Clinton said on Thursday.