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NEW YORK (Reuters) – Authorities on Monday arrested the chief executive of a private New York financing firm on suspicion of running a purported Ponzi scheme that attracted $400 million in investments, U.S. law enforcement officials said.

Nicholas Cosmo, head of Agape World Inc on New York’s Long Island, was said to provide commercial bridge loans, but was instead operating a traditional Ponzi scheme in which early investors are paid with the money of new clients, officials said.

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BELLFLOWER, Calif. – A woman gave birth Monday to eight babies, only the second time in history octuplets have survived more than a few hours, doctors said. The mother gave birth to six boys and two girls weighing between 1 pound, 8 ounces, and 3 pounds, 4 ounces, doctors at Kaiser Permanente Bellflower Medical Center said. The hospital had scheduled a Cesarean section for seven babies, but doctors were surprised when an eighth came out at 10:48 a.m.

“My eyes were wide,” Dr. Karen Maples said, explaining her reaction to the last birth. Doctors said the babies were born nine weeks premature but are in stable condition. Two newborns were placed on ventilators and a third needs oxygen.

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Hong Kong film makers are preparing to leave filmgoers goggle-eyed by releasing the world’s first pornographic movie in 3D, a news report said on Sunday.

Shooting on the Chinese-language film 3D Sex And Zen, budgeted at 4 million US dollars, is scheduled for April with producers promising some of the most realistic close-up sex scenes ever.

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Terrell Owens

Terrell Owens hopes to score with a new cable reality show. The Dallas Cowboys’ controversial wide receiver will star in his own show on VH1 this summer, giving fans a look into his life off the field.

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A 93-year-old man froze to death inside his home just days after the municipal power company restricted his use of electricity because of unpaid bills, officials said. The temperature was 32 degrees (Fahrenheit) inside his home.

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On Jan. 17, 2009, at 1909 UT, a meteoroid of unknown size hit Earth’s atmosphere over Scandinavia and exploded with a thunderous, rumbling boom. The fireball was so bright it turned the nighttime sky blue.

The movie was recorded by an automated video camera belonging to Roger Svensson in Sweden. Jacob Kuiper of the Dutch National Weather Service says the phones at his offices were ringing off the hook. “The Dutch Coast Guard has been overwhelmed with eyewitness reports, sometimes 20 phone calls in a few minutes.” Observers reporting to the Danish astronomy web site Astronomibladet say the fireball’s brightness exceeded that of a full Moon; early evening drivers “could not help noticing it, despite being blinded by the opposite traffic.”

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The Year of the Ox got off to an inauspicious start for American workers.

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The Year of the Ox, year 4706 in the Chinese lunar calendar, is supposed to represent prosperity through perseverance and hard work. But the hope for a better year in 2009 was being dashed by the job losses and the growing concern that many more would join the ranks of the 2.6 million who became unemployed in 2008.

A slew of American heavyweight companies, including Caterpillar, Pfizer, Sprint Nextel, Home Depot and General Motors announced thousands of job cuts Monday. What’s more, a group of business economists predicted many more job losses in the year ahead.

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Pfizer Inc. is buying rival drugmaker Wyeth in a $68 billion deal that will increase its revenue by 50 percent, solidfy its No. 1 rank in the troubled industry and transform it from a pure pharmaceutical company into a diversified health care giant.

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Iceland’s coalition government has collapsed under the strain of an escalating economic crisis.

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Conservative Prime Minister Geir Haarde announced the resignation of his cabinet, after talks with his Social Democratic coalition partners failed.

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Top-ranked Spanish superstar Rafael Nadal and last year’s runner-up Jo-Wilfried Tsonga advanced to the quarterfinals, while one of the pre-tournament favorites, Andy Murray, exited the draw at the Australian Open on Monday.

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The political future of the Democratic Republic of the Congo’s Virunga National Park—home to about 200 of the world’s roughly 680 mountain gorillas—was thrown into turmoil Thursday night with the arrest of Congolese rebel leader Laurent Nkunda.

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