Business

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.

Detroit -- The Chevrolet Volt electric car may earn a fuel-efficiency rating of 250 miles per gallon, U.S. automaker General Motors Co. said Tuesday.

Washington -- Interest rates for 30-year, fixed-rate U.S. mortgages fell in the week ending Aug. 6, the Federal Home Loan Mortgage Corp. said Thursday.

Detriot -- General Motors Corp. is discussing a possible partnership with eBay that would allow dealers to list new cars on the auction Web site, officials said.

Washington -- The Congressional Budget Office said Friday the U.S. budget deficit could double as a percentage of the gross domestic product between 2023 and 2040.

It's been interesting to observe the zeal with which people have taken part in the Fool's debate about buy-and-hold investing. There have been many arguments in favor of buy and hold, some against, and some in between.

New York -- Clothing designer Calvin Klein replaced a racy New York billboard evocative of a sexual orgy with a slightly less sexual ad featuring a dampened bikini model.

Washington -- The U.S. Consumer Product Safety Commission announced a voluntary recall of JGR Copa body boards due to excessive lead in the paint used on the undersides.

San Francisco -- The 9th U.S. Circuit Court of Appeals in San Francisco ordered Exxon Mobil Corp to pay $1 billion to Alaskan victims of the Exxon Valdez oil tanker spill.

Washington -- The U.S. Treasury Department said ten large financial firms were strong enough to return billions of dollars of emergency bailout funds to the government.