IBT Staff Reporter

It was the boy's first day to receive permission to walk home from day camp, when the otherwise exciting sign of independence became the worst nightmare.

What kind of legal problems could Rupert Murdoch's News Corp face in the United States from the UK phone-hacking scandal? Securities litigation? Likely. Anti-bribery prosecution? Possible. Anti-racketeering laws? That may be more of a stretch.

Stocks stopped a three-day slide on Wednesday, but the market is likely to get hit in the coming session after Moody's said it could cut the United States' prized triple-A credit rating.

The Federal Reserve is ready to ease monetary policy further if economic growth and inflation slow much more, Chairman Ben Bernanke said on Wednesday, giving a boost to the bruised stock market.

Citigroup Inc is considering keeping its store credit card business after trying to dispose the $41 billion business, the Financial Times reported.

Morgan Stanley might lay off more workers than the few hundred underperforming financial advisers it previously said were at risk of being fired, according to Fox Business Network.

Hugh Hefner Death rumors have proven that 2011 is the year of the hoax.

Prince Fielder of the Milwaukee Brewers was named Most Valuable Player in Tuesday's 82nd All-Star Game in a 5-1 National League victory over the American League.

Credit-rating service Moody's said that it is putting the U.S. government on review. Our government may see a downgrade from its Aaa bond rating because of the increasing possibility that the debt ceiling will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes.

It was eight-year-old Leiby Kletzky's first time to walk home alone from day camp, when he was kidnapped and killed, with his body dismembered and put into a refrigerator.Levi Aron, 35, is awaiting charges after his confession of kidnapping and murdering Kletzky, a Brooklyn boy who went missing after leaving day camp on Monday.

General Motors Co on Wednesday called comments made by Volkswagen AG's chief executive about a possible sale of the U.S. automaker's Opel unit regrettable.

General Electric Co expects its manufacturing footprint in the United States to continue to grow this year on tremendous demand for core industrial products including gas turbines and jet engines.

Two years ago, Pandora co-founder Tim Westergren fought the battle of his life, successfully working to get online music royalties cut to a level that would allow his burgeoning Internet music company to survive.

Casey Anthony from Florida was famously tried and acquitted last week of killing her two-year-old daughter Caylee. She is set to be freed from jail Wednesday, and expected to live under a pseudonym once she reaches the 'secret' location.

American Apparel Inc said it received a letter from NYSE Amex that the composition of the clothing chain's audit committee and board of directors was not in compliance with the exchange's guidelines.

A controversial editorial in a medical journal is calling for the removal of fat children from their parents' home if the situation calls for it.

New York Mets outfielder Carlos Beltran will not be going across town to the Yankees. According to sources with ESPN, the Yankees aren't interested in Beltran wearing the pin stripes.

The IMF said on Wednesday private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid a debt default.

A non-profit group said that it will sue Casey Anthony for the $100,000 it spent on the 2008 wild goose chase to find her missing daughter. Anthony was acquitted on charges of killing her two-year-old child using duct tape and chloroform.

Liebby Kletzky went missing after leaving day camp in Brooklyn. His dismembered body was found less than 48 hours later in a suitcase in a Dumpster. Other remains were found in a freezer. Below is a rough timeline of his disappearance, NBC reported.

Salt consumption may put you at high risk for early death, according to a recent study.

AIDS drugs designed to treat HIV can also be used to reduce dramatically the risk of infection among heterosexual couples, two studies conducted in Africa showed for the first time on Wednesday.

Two studies have confirmed that a daily pill containing HIV-combating drugs can be used to prevent infection in the healthy. One of the studies was conducted by the U.S. Centers for Disease Control and Prevention and the Botswana Ministry of Health and the other was conducted by the University of Washington and the Bill and Melinda Gates Foundation.

Mila Kunis isn't big on having sex with friends, the bombshell actress insists despite her upcoming role in the raunch-flick Friends with Benefits.

EBay Inc invested in logistics provider Shipwire, according to a statement Wednesday, the latest example of the e-commerce company's push to add more services for merchants moving online.

The NFL lockout may be close to an end.

I have been a subscriber for years and WILL cancel if rates increase, one customer wrote on Netflix's Facebook page.

State sales tax revenues grew slowly in June, with an average gain of only 2.1 percent, according to a report released on Wednesday, suggesting a weakening trend that could threaten states' recoveries.

A fresh round of insider-trading prosecutions involving hedge funds may be in the works judging by some unusual name-dropping during two recent guilty pleas in the long-running probe.