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A phone-hacking scandal centered on Rupert Murdoch’s News Corp cost Britain’s top policeman his job and renewed questions on Monday about Prime Minister David Cameron’s judgment. In another major development in a scandal that has shaken Britons’ faith in the police, press and political leaders, detectives arrested Rebekah Brooks, former head of News Corp’s British newspaper arm, on suspicion of intercepting communications and corruption. The flame-haired Brooks, who once edited the News of the World tabloid, was released on bail at midnight on Sunday, about 12 hours after she went to a London police station to be arrested, her spokesman said. Brooks has denied any wrongdoing. Analysts said the gathering pace of heads rolling had turned up the heat on Cameron and Murdoch over their handling of the scandal, with the media tycoon due to be questioned by parliament in a possible showdown on Tuesday.

Notorious spam king Sanford Wallace is facing federal fraud charges for allegedly breaking into Facebook accounts and sending 27 million spam messages in 2008 and 2009.

Wallace, 43, allegedly used aphishing attack to steal usernames and passwords from victims and then used the stolen credentials to post spam to victims walls, the U.S. Department of Justice said. Wallace allegedly made money from the scam by driving Web traffic to affiliate marketing companies, who pay their members by the number of clicks they can deliver to websites.

The charges are outlined in an indictment, filed July 6 but made public Thursday after Wallace turned himself in to federal authorities.

Better Business Bureau of Southern Arizona is warning consumers against giving out personal information to unknown callers. Scammers have recently been using the name of legitimate law firms to trick victims across the country into giving out bank information, credit card numbers and other private information.



Victims report receiving calls from individuals using a fake name and an untraceable phone number, who say they work with a law firm in the victim’s area.

As the White House continues negotiations with congressional leaders over a budget deal this weekend, newly elected head of the International Monetary Fund Christine Lagarde says that she “can’t imagine for a second” that the United States would default on its debt obligations, saying it would be “a real shock” to the global economy if no agreement is reached.

“I can’t imagine for a second that the United States would default,” Lagarde told “This Week” anchor Christiane Amanpour in an exclusive interview. “But, clearly, this issue of the debt ceiling has to be resolved.”

To make good on its ballooning multibillion-dollar valuation, online-messaging service Twitter Inc. must pass the Sephora test.

Initially, Sephora, the makeup retailer that is part of luxury-brand-giant LVMH, didn’t allocate any funds for Twitter’s young advertising system for this year. But in February, it bought more than 15 Twitter ads to promote a contest for customers in which it gave away products to fans of the Fox show “Glee.” According to its analysis, the response rate from the Twitter ads beat its projections by 700%.

Mutual funds have emerged as a simple yet effective medium of creating wealth across the world. In India, however, investors have had mixed experiences. The issues like mismatch between reality and expectations in terms of returns, lack of understanding about various products and their suitability as well as wrong positioning of various mutual fund products have time and again created perception issues about this wonderful investment vehicle. Thankfully, due to improved regulations and serious efforts made by the industry as well as those associated with it, the scenario has improved considerably.

However, with the ever increasing number of schemes and the number of fund houses, getting the best out of their MF investments remains a challenge for investors. Here are a few tips that could help MF investors in improving the performance of their portfolios: