New York City

(Newser) - Bernie Kerik is about to embarrass his former pal and partner Rudy Giuliani again. Federal prosecutors say they will charge Kerik with with several felonies in connection with the same problems that sank his nomination for secretary of Homeland Security in 2004.

(Newser) - Forget gold stars: poor New York City kids who attend class regularly or improve grades will get cash rewards. Mayor Michael Bloomberg tells the New York Times the program, which could net a low-income family up to $5,000 a year, is akin to sales bonuses in the private sector.

(Newser) - Wall Street’s position as the center of the financial universe—unchallenged for more than a century—is under serious threat from the City of London, according to John Gapper. London is catching up with Gotham in bond trading, already ahead in derivatives and the place to be for really...