IBT Staff Reporter

Scott Farah, the head of New Hampshire-based failed mortgage firm Financial Resources Mortgage has been sentenced to 15 years in prison by a federal judge for duping hundreds of investors.

Verizon Communications' quarterly revenue was slightly behind Wall Street's expectations, even as it reported stronger-than-expected wireless subscriber growth.

The president and the auditor of a Costa Rican company selling reinsurance bonds to life settlement companies have been arrested and charged for their role in a $670 million fraud scheme.

Macau casino magnate Stanley Ho on Tuesday accused his family of stealing shares in his business empire and leaving him with almost nothing after a share restructuring he said was done without his consent.

In what is being billed as the biggest crime bust in history, the FBI have arrested 119 Mafia suspects and have charged nearly 130 people connected to different crimes ranging from murder and drug trafficking to extortion, gambling, loan-sharking and prostitution.

Two owners of a Houston health care company have pleaded guilty to charges that they have swindled Medicare of $5.2 million by filing false claims.

A top antitrust partner at Howrey is leaving the law firm, adding to the growing number of top lawyers who have quit the firm in recent months.

A Massachusetts-based lawyer, who was suspended for defrauding 10 mortgage lenders of more than $10.6 million, has been sentenced to 12 years in prison.

MTV executives have ordered changes in a new hit drama called 'Skins' because of fears that some explicit scenes could violate child pornography laws by featuring the sex- and drug-fueled exploits of misfit teenagers.

Consumer confidence rose more than expected in January to its highest level in eight months, helped by growing optimism about the economy and the jobs market, according to a private sector report released on Tuesday.

Kimberly-Clark Corp plans to get out of the business of making the pulp used in its paper products, closing several plants, as it copes with rising costs for oil, fiber and other commodities.

Cadwalader, Wickersham & Taft has reportedly poached on as many as nine partners from McDermott Will & Emery and dozens of associates are also expected to make the move in the coming days.

Freshfields Bruckhaus Deringer and Linklaters have topped the list of legal advisers to European mergers and acquisitions (M&A) by value and volume in 2010, according to Legal Week.

Leather goods maker Coach Inc reported a larger-than-expected quarterly profit as U.S. luxury spending rebounded and sales in China soared over the holiday season.

The Washington D.C. Court of Appeals, for the first time since 1900, has decided not to impose disbarment as a sanction on a lawyer found guilty of intentionally misappropriating client funds because the was, in intent and effect, in the best interest of his ward.

American Bar Association (ABA) president Stephen N. Zack has strongly condemned the unfair trial and sentencing of an Iranian human rights lawyer Nasrin Sotoudeh.

A New York federal judge has dismissed a class-action lawsuit that was seeking to force Philip Morris USA Inc. to pay for medical monitoring program for Marlboro smokers.

Travelers Companies Inc posted a higher-than-expected quarterly profit and the largest publicly traded U.S. property insurer said there were early signs businesses were finally willing to spend more on insurance.

News Corp's new digital newspaper The Daily, designed for Apple's iPad, should launch in the next two weeks after some delays and will cost $0.99 per week, executive James Murdoch said on Tuesday.

Lawyers for Silvio Berlusconi have presented evidence to magistrates from dozens of witnesses denying accounts of wild sex parties at a luxurious villa belonging to the embattled Italian prime minister.

President Barack Obama aims to rise above party politics in his State of the Union speech on Tuesday, but he must prove he is serious about tackling the budget deficit that could unleash a bitter partisan fight.

Ericsson forecast strong demand for mobile broadband equipment in 2011 after a surge in fourth-quarter sales on the back of consumer demand for smartphones boosted growth for the first time in two years.

Hundreds of angry protesters burnt tyres and blocked roads across Lebanon Tuesday after a Hezbollah-backed politician was named prime minister, shifting the balance of power in the country towards Syria and Iran.

A teenage suicide bomber blew himself up near a religious procession of Shi'ite Muslims in the Pakistani city of Lahore on Tuesday, killing atlas 13 people and wounding more than 50, officials said.

BlackRock Inc , the world's largest asset manager, reported a big jump in fourth-quarter profit and revenue on Tuesday, aided by the global stock market rally.

Prime Minister Vladimir Putin vowed revenge on Tuesday for a suicide bombing that killed at least 35 people at Russia's busiest airport and underscored the Kremlin's failure to stem a rising tide of attacks.

Verizon Communications' quarterly profit and revenue were slightly behind Wall Street's expectations, sending the company's shares down more than 1 percent, even as it reported stronger-than-expected wireless subscriber growth.

BlackRock Inc , the world's largest asset manager, reported a big jump in fourth-quarter profit and revenue on Tuesday, aided in no small measure by the global stock market rally.

Emerging stocks edged down on Tuesday as inflation worries persisted and weaker metals prices knocked South African shares and the rand.