Authorities on Monday arrested the chief executive of a private New York financing firm on suspicion of running a purported Ponzi scheme that attracted $400 million in investments, U.S. law enforcement officials said.
Nicholas Cosmo, head of Agape World Inc on New York’s Long Island, was said to provide commercial bridge loans, but was instead operating [...]

MARKUS FRIND, a 29-year-old Web entrepreneur, has not read the best seller “The 4-Hour Workweek” — in fact, he had not heard of it when asked last week — but his face could go on the book’s cover.
He developed software for his online dating site, Plenty of Fish, that operates almost completely on autopilot, leaving [...]

A Latin American billionaire looks to expand his empire in the United States in a deal that could make him the largest shareholder of The New York Times Co.
The $250 million investment by Mexican tycoon Carlos Slim could provide some synergies with his telecommunications holdings in Latin America, analysts say.
Perhaps more importantly, Slim, reputed to [...]

Crowds streamed into the nation’s capital Tuesday, packing mass transit before dawn as out-of-towners and area residents alike headed for Pennsylvania Avenue and the National Mall for the swearing in of President-elect Barack Obama.
“This is the culmination of two years of work,” said Obama activist Akin Salawu, 34, of Brooklyn, N.Y., who helped the candidate [...]

An Australian gambler who lost millions in a A$1.4 billion ($909 million) gaming spree is suing one of the country’s largest casinos, claiming he was targeted by managers despite a known gambling addiction.