IBT Staff Reporter

Top executives at JP Morgan Chase & Co. knew about the massive Ponzi scam of the bank's client Bernard Madoff much before it became public but turned a blind eye to it, hoping to protect the bank's interests, according to a $6.4 billion lawsuit filed by a court-appointed trustee seeking to recover money for former Madoff clients.

Since the Egyptian government shut down the Internet for days in the wake of protests, some have asked if the U.S. government could set up an Internet kill switch to cut off access -- either to stop people from communicating or protect the country from cyber attack.

The world's biggest cellphone maker Nokia is likely to sack several executive board members in a management shake-up, a German weekly reported.

A report by an American think thank says that U.S. dependence on China for rare earths is extremely problematic and poses both economic and national security risks.

It makes their family complete

The Peace Corps has released its 2011 rankings of universities and colleges in the United States, in terms of volunteers from these institutions who live and work in foreign countries around the world.

British Columbia Ferry Lines - the largest passenger ferry line in North America - has reportedly blocked access on its free Wi-fi service to any site that has sex-education or abortion related content, inviting criticism from many quarters.

New York commuters are set to bid goodbye to the iconic yellow cab, as the city plans to get it replaced by a smarter and trendier model for the 21 century.

43 percent of recent acquirers of smartphones in the United States opted for a device using Google's Android operating system, giving it a clear lead over the iPhone and Blackberry.

It is only the second time that it is being done live.

In a study conducted by business school IMD, 18.2 percent of respondents cited Singapore Airlines as the top national brand that they were most enthusiastic about and would recommend globally.

Computer hackers repeatedly entered the network of the company that runs the Nasdaq stock market in the past year, but the trading platform was not compromised, the Wall Street Journal reported on Friday.

After appearances on all major TV shows, teen star Justin Bieber eyes Saturday Night Live (SNL) to promote his film 'Never Say Never'.

Both the actors have been approached for roles in the film.

Bank of America Corp appointed on Friday a new foreclosure and loan modifications czar, and created a new unit to oversee problem home loans in a bid to sort out its on-going foreclosure issues, becoming the first large U.S. bank to do so.

Facebook, which turned seven on Friday, already needs new offices.

Troubled bookseller Borders Group Inc said on Friday that the New York Stock Exchange warned it its low share price did not meet listing requirements.

The heads of large U.S. banks have formed a group to pressure Washington to change rules that limit their fees for processing debit card transactions.

Chris Mihm, former Los Angeles Laker, has listed his home in the professional-sports-star enclave Manhattan Beach, California, for sale at $2.099 million.

Tips from whistleblowers to the Securities and Exchange Commission have increased significantly since the Wall Street reform law was enacted last year, an agency official said on Friday.

Cheryl Cole, the X Factor judge, has reportedly rented a mansion for £3,500-a-week in the suburb Hadley Wood, London.

Tommy Mottola, former chairman and CEO of Sony Music Entertainment, has sold his Wildcat Ranch property in Pitkin County for around $17.8 million, according to a news report by Wall Street Journal.

A Canadian court struck down on Friday a federal government move to allow Globalive, a company with substantial foreign control, to operate a wireless service in Canada.

Tips from whistleblowers to the Securities and Exchange Commission have increased significantly since the Wall Street reform law was enacted last year, an agency official said on Friday.

Chrysler Group LLC is working to refinance what its chief executive characterized as shyster loans that the Obama administration extended as part of a bailout to keep the automaker from collapse in 2009.

China's yuan currency remains substantially undervalued and should be permitted to appreciate more rapidly but there isn't enough evidence to conclude that Beijing deliberately manipulates its value, the U.S. Treasury department said on Friday.

The pace of economic recovery has reached escape velocity from the worst recession in decades, though the nation may not return to full employment until 2014, a top Federal Reserve researcher said on Friday.

Forensic psychiatrist Gerald Bryant details the personality traits of Bernie Madoff-like of Ponzi schemers.

Corning Inc is looking to boost sales of its glass more than 50 percent by 2014, banking on the popularity of tablets and smartphones, which helped boost its shares 3.5 percent on Friday.