IBT Staff Reporter

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Madoff trustee triples JPMorgan suit to $19 billion

The trustee seeking money for Bernard Madoff's victims is now demanding $19 billion in damages from JPMorgan Chase & Co, more than tripling what he hopes to recover from what had been the main bank for the now-imprisoned Ponzi schemer.

Bloomberg Cuts Deal To Avert Teacher Layoffs

Mayor Michael Bloomberg and the United Federation of Teachers which represents thousands of teachers in New York City have struck a deal to avoid teacher layoffs amounting to 4,100 in total, sources said.

Madoff trustee seeks $19 billion from JPMorgan

The trustee seeking money for Bernard Madoff's victims is now seeking $19 billion from JPMorgan Chase & Co, tripling the amount he hopes to recover from what was once the main bank of the imprisoned Ponzi schemer.

Ex-media mogul Conrad Black sent back to prison

A U.S. judge on Friday ordered former media baron Conrad Black back to prison for 13 more months, cutting his original 6 1/2-year sentence nearly in half for remaining fraud and obstruction of justice convictions.

Madoff trustee seeking $19 billion from JPMorgan

The trustee seeking money for Bernard Madoff's victims filed an amended complaint on Friday more than tripling the amount of damages he is seeking to recover from JPMorgan Chase & Co, once the imprisoned Ponzi schemer's main bank.

Wall St sinks on Europe's debt misery

Wall Street dropped for a third day on Friday on worries about the Italian banking sector and Greece's debt crisis, but the S&P 500 managed to hold its 200-day moving average in a sign buyers still see value.

Brent falls as euro zone woes, dollar pressure

Brent crude prices fell on Friday in choppy trading as Europe's debt problems helped the dollar index rebound, extending oil's decline a second day after consuming nations announced they were tapping strategic reserves.

Wall Street sinks on Europe's debt misery

Wall Street dropped for a third day on Friday on worries about the Italian banking sector and Greece's debt crisis, but the S&P 500 managed to hold its 200-day moving average in a sign buyers still see value.

Hackers attack Electronic Arts website

Cyber hackers have breached an Electronic Arts Inc website and may have taken user information such as birth dates, phone numbers and mailing addresses, the company said on its website on Friday.

Obama launches technology partnership to spur jobs

President Barack Obama on Friday launched an initiative to develop new U.S. manufacturing jobs by teaming up government with companies and universities to invest more than $500 million in advanced technologies.

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