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Financial giant Raj Rajaratnam, a billionaire investor who founded Galleon Group, was found guilty Wednesday in New York in the largest insider trading case ever involving hedge funds. The case against him was made stronger because of wiretapped conversations in which he brazenly swapped inside stock tips.

The Brooklyn Flea, already well known in the brownstone neighborhood of Fort Greene, has opened another location along the East River in Williamsburg.

With the president traveling in Latin America and Congress on recess, there's no one issue driving the economic agenda and markets this week. As a result, investors will be pay close attention to the allies' air assault in Libya as well as other developments in the Middle East and what they mean for oil production and prices.

General Motors said it will close a factory in Louisiana because of lack of parts from earthquake and tsunami-stricken Japan. We'll also talk about the ramifications for the U.S. economy.

If there is no major fallout from the damaged nuclear reactors, the economic effect of Friday's earthquake and resulting tsunami is largely expected to be limited to Japan. Spending to rebuild Japan will most likely help boost economic growth, but that this spending will most likely add to Japan’s public debt, already the second worst in the world.

As recovery efforts continue in Japan and rescuers keep searching for the injured, dead and missing, the growing nuclear crisis has the country — and the world — on edge.  Just how successful Japan is at preventing a possible meltdown at the reactors will spell the difference between a short-term, immensely tragic event and a long-term, global disaster.

The U.S. job market bounced back in February as the unemployment fell below 9 percent for the first time since April 2009.

Leaders from dozens of universities around the world converge on New York this week to show their interest in establishing a new high tech research campus in the city, an idea born out of the financial crisis.

Governor Andrew Cuomo wants to shutter as many as 10 prisons statewide in order to cut costs, but officials in the primarily upstate New York communities that house correctional facilities are concerned about job loss.

Chinatown business leaders have reservations about China's largest bank snapping up an 80 percent stake in a U.S. subsidiary of a bank with branches in Manhattan's Chinatown, Sunset Park, Brooklyn, and Flushing, Queens.

Foreclosure activity fell to an eight month low as fewer than 300,000 homes received a foreclosure notice in November. According to the online foreclosure tracking firm RealtyTrac, 262,339 properties received a foreclosure filing last month, a 21 percent drop from October and a 14 percent drop from a year ago. Both of these declines were the largest percent decreases since RealtyTrac began collecting foreclosure date in January of 2005.

The City's economy may have hit some rocky patches in the last few years, but enrollment at New York City’s culinary schools has seen steady growth. Many of the new students are mid-life career changers, forced out of their old professions by the crumbling economy.

With Thanksgiving weekend marking the traditional start to the holiday shopping season, retailers are offering big discounts to draw in shoppers. But many New Yorkers say they're opting out of Black Friday, preferring to shop closer to the December holidays and online.

Mayor Bloomberg announced plans on Thursday to lay off thousands of city workers, in one of the most visible signs yet of the recession's toll. In presenting their annual November budget update, mayoral aides noted that a total of 6,201 city employees would be laid off in between the current and following fiscal year and that another 4,165 jobs would be lost through attrition.

Since the financial crisis hit in September 2008, the city has added a record 9,200 hotel rooms, 10 percent of total supply. Experts say before the financial crisis, Manhattan hotels turned customers away because there was so much demand. Now, there are lower rates and less demand.

In the midst of a busy election day, more bad news about New York state's budget was overshadowed. Governor David Paterson’s budget director Robert Megna said a new $315 million budget gap has opened up midway through the fiscal year. He said it’s largely due to the continuing recession, which has created lower than expected tax collection revenues and higher spending on Medicaid and other social services due to higher unemployment rates.

The U.S. economy continues to lose jobs as the government reports Friday morning that 95,000 positions were cut from the nation’s payrolls.

While private sector employers hired 64,000 jobs last month, the positive number was offset by the loss of 159,000 government jobs

While large portions of the East Coast breathed a sigh of relief as Hurricane Earl lost strength overnight, another storm, this one economic, was also less damaging than expected.

U.S. economic growth slowed in the second quarter of this year as the government revised downwards the gross domestic product (GDP) to 1.6 percent from a previous estimate of 2.4 percent. The news caps a week of bad news about the nation’s economy, in particular, reports that housing sales fell to record lows in July.

The annual reappearance of Back To School signs in shop windows is a buzzkill for kids everywhere. And this year, parents aren't so excited about it either.