NEW YORK

Allstate Corp., the largest publicly traded U.S. home and auto insurer, has accused Bank of America (BofA) and its lending unit, Countrywide Financial, of misrepresenting the risk associated with mortgage-backed securities it bought from them beginning 2005, and is suing them for more than $700 million.

Groupon, the social buying website which recently rejected a $6- billion takeover offer from Google (Nasdaq: GOOG) has attracted the interest of some large institutional investors and is seeking to go public by the end of next year, according to a report in the New York Times.

Polychlorinated biphenyls, or PCBs, are man-made chemicals that have been recognized for the last 30 years to be toxic and potentially carcinogenic. They can affect the immune system, reproductive system, nervous system and endocrine system and, if they build up in the body long enough, they can cause cancer.

Deutsche Bank has entered into a non-prosecution agreement to pay $553.6 million penalty for participating in fraudulent tax shelters that let clients hide billions of dollars from the Internal Revenue Service (IRS) and dodge taxes, U.S. prosecutors said.

Time Warner Cable customers in several states could lose local stations that carry the big four networks at midnight on Dec. 31 if an agreement isn't reached with Sinclair Broadcasting.

Shares of BJ's Wholesale Club (NYSE: BJ) are surging this morning after the New York Post reported that a private equity firm may launch a hostile bid for the warehouse retailer.

Snow storms are probably worst nightmares for air travellers, especially during holiday season. Scores of passengers in U.S. continue to curse their luck as the worst December snowstorm hit northeast. Here are some tips for snow-stranded travellers.

Shares of General Motors rose more than 2 percent Tuesday after a slew of analysts advised buying shares of the automaker, which has raised $23 billion recently in the world's largest IPO.

The federal government is awarding $182.4 million to seven transit projects already under way in Dallas, New York City, Northern Virginia, Salt Lake City and Seattle.

The Geostationary Operational Environmental Satellite captured some striking images of the winter storm that buried parts of the U.S. over the weekend.

The Blizzard of 2010 has left thousands of people stranded in airports, on roadways and in unplowed neighborhoods throughout the northeast.

From Europe's heavy snowfall to the New York's blizzard, here's a photo gallery to peep into world's most popular places that have turned immaculately white this winter.

Airports in New York reopened on Tuesday after the city saw the heaviest December snowfall in nearly six decades, causing severe disruption to travel services.

AT&T Inc. (T) said it is expanding its Wi-Fi access in New York around Times Square and introducing it in San Francisco, near the waterfront.

The two-day blizzard that hit the East Coast on Sunday left behind a trail of disruption involving blockage of some major roadways, cancellation of a number of flights and complete suspension of rail services.

Basili Alukos, an equity analyst at Morningstar, estimates that U.S. airlines may lose between $130-million and $190-million of revenues per day due to the winter blizzard.

Shares of American International Group Inc. (NYSE: AIG) are soundly higher this morning after the company said it entered bank credit facilities totaling $3-billion.

A full-blown blizzard pounded the northeast from yesterday into today, making roadways hazardous, shutting down transit systems and causing at least one state government to declare a state of emergency.

As the season’s first snowstorm hit New York on Sunday, travel by road, rail and air came to a halt on a weekend, which is usually one of the busiest traveled weekend because of Christmas holidays.

The U.S. Department of Energy is investing in a power storage system that brings together several emerging industries in the alternative energy field -- solar and wind power, and the lithium-ion battery.

The National Weather Service has issued a blizzard warning which will be in effect from 6 a.m. Sunday, December 26 till 6 p.m. Monday, December 27.