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New York, August 18: Reader’s Digest Association Inc. (RDA), the publisher of the nation’s most popular general interest magazine, is set to file for a pre-packaged Chapter 11 bankruptcy.

Toronto, August 18: Lowe's Cos (NYSE: LOW) reported a sharper –than-expected 19 percent fall in second-quarter profits. The world's second-largest home-improvement retailer, next only to Georgia based Home Depot Inc (NYSE: HD) cited poor demand for the dismal results.

Texas, August 13: With a view to draw first blood and attract a bigger pie of the air travel market share, JetBlue Airways (JBLU.O) will offer a "all-you-can-fly" pass for as little as $599 which would permit the holder to book unlimited flights.

New York, August 12: Contradicting assertions by Bernard Madoff that he alone orchestrated the $65 billion Ponzi scheme, Madoff’s right-hand man, Tuesday pleaded guilty to conspiracy and other charges related to his involvement in the scam.

New York, August 11: After snubbing several proposals of acquisition from investment firm Resolution, insurer Friends Provident has finally consented to a £1.86 billion takeover offer.

California, August 11: With an aim to provide a new platform for buyers, General Motor Company LLC will launch a pilot program in collaboration with eBay Inc. (NASDAQ: EBAY), the most-visited U.S. e-commerce Web site.

New York, August 11: From bad to worse! At the end of the second quarter of the current year, close to 25 percent of mortgage holders in the nation owed more than what their homes were actually worth.

Florida, August 8: The effects of economic recession just do not seem to show any signs of slowing down with two more banks being shut down in Florida and one in Oregon. With this, the number of U.S. banks that have failed this year jumped to 72.

Washington, August 7: The Federal National Mortgage Association (FNMA), the besieged mortgage firm, reported a mammoth 14.8-billion-dollar loss in the second quarter. The loss represents the eighth-straight quarterly loss for the company.

New York, August 7: Indicted for artificially inflating earnings between 2000 and 2005, Maurice "Hank" Greenberg, who led American International Group Inc. (AIG) for 38 years until his ouster in 2005, has agreed to pay $15 million penalty to settle fraud charges, the Securities and Exchange Commission (SEC) said Thursday.