One day after Rajat K. Gupta, formerly of Goldman Sachs, was sentenced to two years in prison for insider trading, a lawyer for Raj Rajaratnam who is currently serving an 11-year sentence in a Massachusetts prison for the same crime, asked that his conviction be set aside, The New York Times reported.
Sectors
Wall Street Flat, Dollar Firm Day Before U.S. Elections
U.S. stocks held steady and the dollar edged up on Monday as investors played it safe on the day before Americans choose their president and as Greece headed into two key votes to secure further rescue funds.
Hurricane Set to Slash Fuel Demand in Northeast U.S.
As the Northeast United States locks down in the path of Hurricane Sandy, the freakishly large tropical storm careening in from the Atlantic, the main impact is likely to be on fuel demand rather than supply.
Training for U.S. 'Green Jobs' Falls Short of Goals
A $500-million "green jobs" program to train U.S. workers for new jobs and help spark recovery from the great recession has fallen far short of its goals, according to a report from the Labor Department's internal watchdog released on Friday.
Zillow.com Launches Listings of Properties Headed For Foreclosure
A decline in the number of available properties, especially in California, prompted a new innovation at the real estate marketplace website Zillow.com. Late Wednesday night the six-year-old Zillow launched a free feature that allows potential home buyers to view homes that are owned by banks or are in the foreclosure process but are not officially listed for sale.
Latest News
More than 80 Chief Executive Officers from the country's largest corporations have joined together in a rare show of unity to pressure Congress for a bipartisan plan to shrink the country's debt, Reuters reported Thursday.
Microsoft introduced its new Windows 8 operating system Thursday morning at an event that was live-streamed from New York, led by CEO Steve Ballmer. The software will be available starting midnight Oct. 26.
The country's second largest bank, Bank of America, has been accused of mortgage fraud in a civil suit filed by the U.S. government in a Manhattan court Wednesday, claiming it sold thousands of home loans that were deliberately processed at such a high speed adequate checks could not be performed, through its Countrywide Financial unit.
U.S. District Judge Jed Rakoff sentenced the former Goldman Sachs director to two years in prison for insider trading and fined him $5 million in a Manhattan court room yesterday.
Zynga Inc has laid off 5 percent of its full-time workforce, shut its Boston office and scaled back in Austin, launching a sweeping overhaul that may also see the social game creator close its Japanese and British offices, Reuters reported Tuesday.
Following a scandal involving the former co-Chair of the high-end online and retail furniture store, Restoration Hardware, the company is planning to sell 5.2 million shares in an Initial Public Offering, The New York Times reported in Dealbook, based on papers filed Tuesday.
Yesterday's unveiling of Apple's new iPad Mini in California received a tepid response from a number of analysts who say the gadget's surprising price tag, $349 for a WI-FI-only version, will make it less of a threat than expected to similarly sized tablets, Reuters reported.
Warren Buffett, the country's second-richest man and one of the world's most successful investors, told CNBC in an interview Wednesday, that he sees the U.S. economy "inching ahead" despite slowing economies in Europe and Asia.
Priced at $329, Apple unveiled its iPad Mini at a media event held at the California Theater in San Jose this morning. As expected, the tablet is 7.9 inches, and will compete with the likes of Barnes & Noble's Nook Color and the Amazon's Kindle Fire HD.
