David Magee

Kweku Adoboli has been charged with fraud and false accounting by London police in connection with unauthorized trades at UBS that caused the bank a $2 billion loss. Adoboli has also reportedly admitted to the bank he caused the losses. His father, a retired United Nations employee living in Ghana, said his son made a mistake.

Arrested at his UBS trading desk, rogue trader Kweku Adoboli allegedly told the bank about his unauthorized trading that resulted in a nearly $2 billion loss.

No, it's not from Star Wars, where the fictional double sunset on Tatooine made such a memorable imprint years ago. But astronomers from NASA have discovered a planet 200 light-years from Earth that apparently orbits two suns like Tatooine.

Missoni for Target was a red-hot hit at launch this week, but the Italian designer's special collection for the retailer has left some customers confused while reseller Internet sites like eBay have experienced a boom.

Colleagues at UBS called Kweku Adoboli, the trader arrested in connected with a $2 billion loss due to unauthorized trading at the bank, up and coming and someone who worked hard...played quite hard too. Adoboli, 31, was arrested on Thursday by London police on suspicion of fraud by abuse of position and being held in custody at Bishopsgate police station. A graduate of Nottingham University who was born in Ghana, Adoboli studied computer science in college and went to work at UB...

The U.S. Postal Service may never be the same, with First Class delivery service expected to slow down amid proposed cuts. Saturday delivery could end.. The latest plan from the post office, gripped with slowing business and costs and nearing default, would likely alter the delivery time of First Class mail. By closing more than half of the agency's 487 mail-processing facilities in a plan announced Thursday.

United States Postal Service First Class mail, long recognized for speed and reliability considering the cost of a stamp, may slow due to cost-saving measures that may be put into place. The postal service has experienced fast decline in First Class mail due to the Internet, as more people use email and online bill pay instead. In the last five years, for example, First Class mail volume has dropped 25 percent, and single piece first class mail -- letters and such sent with a stamp -- has decli....

Kweku Adoboli, the 31-year-old London man accused as the rogue trader who cost Swiss banking giant UBS an estimated loss of $2 billion, is a "well-dressed quiet man" of African origin who wasn't the "tidiest" but is very "well spoken," according to a former landlord.

When a name like Kweku Adoboli instantly becomes public, like the UBS trader who allegedly lost the bank $2 billion in unauthorized transactions and who is suddenly a globally hot Internet search item, many turn to the most public source available -- Facebook, the world's largest social network.

UBS has 65,000 employees. The Swiss bank has global operations, serving approximately 50 countries. The company has been around for nearly 150 years. But one rogue trader -- reportedly a 31-year-old living and working in London -- has apparently brought the company to its knees in embarrassment and financial loss.

Facebook won't friend Wall Street late next year by launching its anticipated blockbuster IPO, according to a report. Expected to be one of the largest IPO's in U.S. history, if not the largest, considering recent share share sales of Facebook's private stock have valued the company at more than $60 billion. The world's largest social network, which made friend a household word in terms of Web connectivity, has a reported 750 million global users or more.

The strongest cold front since last spring will sweep cool air from Canada into much of the U.S. late this week, giving some northern areas including the northern plains and the Midwest a first frost by the end of the week.

Finding the truth in the fast-developed Sarah Palin scandals involving claims that she A) had sex with Miami Heat star Glen Rice in the 1980s, B) snorted cocaine from a 55-gallon drum years ago while snowboarding with her husband, Todd, and friends, C) had an affair with her husband's business partner for six months, and D) smoked pot in college with a professor, is easier than it seems.

While most Target stores nationwide are sold out of the retailer's red hot Missoni for Target collection items, eBay has exploded with products for resale.

The survey conducted by Bloomberg suggests RIM may have shipped just one PlayBook last quarter for ever 19 iPads shipped by Apple. RIM announces earnings on Thursday, and Bloomberg's survey of analysts suggests they don't expect good news from the Canadian-based company.

Momentum gained by Republicans in last year's mid-term Congressional elections continued in New York's 9th Congressional District special election Tuesday as voters chose a first-time, 70-year-old former television producer over Democrat Dave Weprin.

Missoni is a hot Italian designer. Target is a discount retailer. The combination proved powerful Tuesday, as the much-hyped Missoni for Target Collection launched, crashing the company's Web site and selling out merchandise from most stores. But on Wednesday, despite a few fits and starts, target.com is working, and the company has many Missoni for Target items in stock for customers to buy.

Google watchers knew the company was going to launch its new Google Flights Web site sooner than later, considering the company acquired ITA software last year, and now it is reality, as Internet searchers can search flights based on cost and travel time. Google Flight Search launched Tuesday. Users can find it google.com/flights. The online flight service has similarities to services offered by Priceline, Expedia, and Orbitz, though some experts suggest Google's may be seconds faster in down...

Republican Bob Turner and New York voters delivered a sharp blow to Democrats and President Barack Obama on Tuesday, as Turner won a special House election in New York in a district where Democrats outnumber Republicans three to one.

Auction.com, the nation's leading real estate auctioneer and loan sales advisor,has announced its upcoming online auctioning of over 325 Non-Performing Notes & Commercial REO Properties located throughout the Southeastern U.S., representing the largest online auction of commercial real estate to date for the company that pioneered modern real estate auctions.

Amid presidential election season, Republicans dealt a sharp blow to Democrats Tuesday, as Republican Bob Turner won a special House election in New York. The Republican victory, in the race to fill the seat vacated by scandal-plagued Anthony Weiner, gives Republicans a victory in the district that President Barack Obama won with 55 percent in the 2008 election, and one Democrats have held for four years.

Google has been busy lately, launching its new social network, Google+, and moving to acquire Motorola Mobility and Zagat, the iconic restaurant rating review company. Now, Google has quietly launched the company's online Google Travel engine, called Flight Search. The tool offers basic flight information and pricing, and may ultimately become a competitor to Kayak, an online site that offers discounted fares and flight information from city to city throughout the world.

The Internet is blazing Tuesday with two red hot retail deals that some consumers can't get enough of and some consumers have already had enough of. One is the Whole Foods/LivingSocial deal offered Tuesday, in which the daily deal company is offering a $10 coupon for $20 in food. The other is the launch of Missoni for Target line of clothing and accessories.

Faster growth is predicted in the next several years for Groupon and other daily deal companies, but the hot Internet space that taps into consumer appetite for cheap food and drink, spa services, yoga lessons, sports tickets and other offerings has its limits, according to new research.

Good news for Fall Foliage 2011 hopefuls: areas in the northeast pounded by Hurricane Irene and flooding from Tropical Storm Lee won't find the leaves ruined this year, according to an expert. Foliage hot spots including Vermont and Maine that were impacted by Irene as a tropical storm are getting ready to open for business, and reports are that foliage will be intact and most roads will be open.

Missoni for Target is red hot. The designer collection launched at Target on Tuesday, quickly selling out at many stores around the country and crashing the company's retail Web site.

Target's Web site is so popular Tuesday after launching a fashion clothing line called Missoni for Target the company's main site has gone down.

Microsoft will try to enter the fast-growing tablet software game and challenge Apple's iPad with a new version of its Windows 8 operating system, designed to run handheld touch-screen computers. Industry eyes are focused upon the company's efforts.

The jobs cut is the single largest job reduction by a U.S. company this year, and the most since the U.S. Postal Service said last year it wanted to cut an additional 30,000 jobs.