Disgraced financier Bernard Madoff and his wife sent at least 16 watches, a jade necklace and a diamond bracelet to family and relatives, proving he will continue to dissipate what little is left from his $50 billion fraud, a prosecutor told a...

Some nasty indigestion is setting in for Bank of America and CEO Ken Lewis after the firm s gorging on a string of big Wall Street names. Dubbed "Banker of the Year" by American Banker, Lewis is now following the lead of his peers, telling the...

CBS boss Les Moonves scored a major coup in his fervent bid to get cable operators to pay for the right to retransmit its broadcast signal yesterday. Time Warner Cable, the nation s second-largest cable operator, agreed to extend its deal to...

Madison Avenue is swinging the ax as it girds for a steep advertising decline. WPP s Ogilvy became the latest agency to resort to layoffs yesterday, when it cut 10 percent of its staff in North America, or 150 people, sources said. The agency s...

IF you ve played the real estate game since 2005, you should be quaking in your boots - with the test being when the deal was done and, perhaps more important, how it was done. "Our steroids were leverage and the buyers were way over-financing,"...

The Securities and Exchange Commission s New York watchdog, under fire for failing to uncover Bernard Madoff s alleged $50 billion Ponzi scheme - despite a dead-on tip by a whistleblower - yesterday tearfully defended herself, arguing that she and...

AFTER a major redesign and a long stretch of rumors, Time Inc. finally made a move at embattled Entertainment Weekly, bouncing the current managing editor, Rick Tetzeli, upstairs while moving People Executive Editor Jess Cagle into the top post at...

The worst-stalled car sales in 15 years are punishing automakers across the globe, spreading billions in new red ink to Detroit, Japan and Europe. As Washington s bailouts rescued General Motors and Chrysler from the precipice of bankruptcy, the...

If eBay s legendary queen Meg Whitman flexes her muscles to replace Arnold Schwarzenegger as California s governor, she ll be giving up control of a huge fortune. She ll also suffer a big pay cut - but it s a cheap price for getting closer to...

The New York Times is shopping ad space on its once sacred front page for $75,000 on weekdays and $100,000 on Sundays, according to several ad buyers who asked to remain unnamed. The Gray Lady finally made the decision to break with longstanding...

First Lady Laura Bush snagged a seven-figure deal to write her life story for the Scribner imprint of Simon & Schuster. Bush is said to have received an advance of $1.6 million, according to one well-placed publishing source - although another...

THIS year you should worry about bonds. You say you don t own any. Well, that doesn t really matter because if the bond market is in a bubble - like I think it is - and it bursts, then the whole economy is going to suffer even greater pain...

The New Year is poised to claim its first big victim in retail. Goody s Family Clothing - a 55-year-old retailer that operates 287 discount stores across the Southeast - is going out of business for good, sources told The Post. Following a...

Now it s a hormonal imbalance that is responsible for Apple CEO Steve Jobs incredibly shrinking frame. Yesterday s bombshell letter from the famously reclusive CEO - coming on the eve of the widely watched annual Macworld conference - is at...

Borders Group ousted CEO George Jones and other top executives, as the struggling book retailer sounded urgent notes about its financial position. Jones was "a good retailer, but he just wasn t a turnaround guy," according to one source close to...

Financier Ronald Perelman asked a Florida court to reopen an almost $1.6 billion case against Morgan Stanley over the sale of Coleman Co. to one of the investment bank s clients. Perelman, who controls cosmetics maker Revlon Inc., wants the state...

DEUTSCHE Bank has given up on trying to sell two big office towers formerly owned by Harry and Billy Macklowe as a package and instead plans to unload just one of them for the time being. Sources said a deal is looming to sell the office portion...

Apple Inc. founder and Chief Executive Steve Jobs, a survivor of pancreatic cancer, said Monday that a hormone imbalance is to blame for the weight loss that has prompted worries about his health. Jobs, 53, said in a public letter that his thinness...

DETROIT - Ford Motor Co. s U.S. sales plummeted 32 percent in December and Toyota Motor Corp. s fell 37 percent as car and truck buyers continued to steer clear of showrooms due to the dismal economy. Ford s sales for 2008 fell 21 percent from a...

An expected surge of defense and technology spending is starting to rally Wall Street out of its historic slump, taking a lead as the new bread-and-butter bet for 2009. Defense giants including Boeing and United Technologies accounted for much of...