Here’s the latest action:

Harvard professor attacks music industry law — Harvard Law School professor Charles Nesson will attempt to overturn the Digital Theft Deterrence and Copyright Damages Improvement Act of 1999 by arguing that it unconstitutionally allows a private group to carry out civil enforcement of a criminal law by fining alleged music pirates.

SEC charges Mark Cuban with insider trading — Cuban is accused of dumping shares of Mamma.com shortly after learning that the company would raise more money, thus dropping its stock price.

A new kind of supercomputer — A computing pioneer named Steven Wallach has invented a new machine called the Convey Computer that may offer another avenue for high-end computing needs.

Citi axes 53,000 positions — Banks continue their slide, with massive layoffs at Citigroup.

Ultra-wideband firm Wisar lays off 30 — The wireless USB maker, which earlier this year raised $24 million, says its market has developed more slowly than anticipated.

Rupert Murdoch: Newspapers ready for a rebirth — There has been no loss in the business of “delivering accurate news and information in a cheap and timely way,” the media mogul said on an ABC Radio National lecture.

EMC starts Decho, cloud computing outfit — Decho will be a subsidiary of the IT giant, offering online storage for files for business and personal users.

Yellow Pages in their death throes — The business of directories, both offline and on, may be ready to collapse under the strain of recession.

Boom-era CEO sentenced for stock fraud — Way back in 2001, the CEO of a company called PurchasePro fraudulently inflated revenues. He just got nine years in prison.

LocalMatters withdraws its IPO — The new media publishing company gave up on plans for a $57.5 million IPO, citing, what else, market conditions.