Intesa Sanpaolo named its new CEO after the resignation of Enrico Tommaso Cucchiani, according to a Bloomberg report.

In a move to provide a tax gain as well as capital gain, AXA spins off AXA PE, ceding majority control to an employee ownership group.

The US Securities and Exchange Commission has charged Mark Cuban of insider trading. Billionaire Mark Cuban is being hauled to court for insider trading.

The European Union had switched the burden to aid troubled banks from taxpayers to shareholders, big depositors and bondholders, said a Reuters report.

UK Prime Minister David Cameron flaunted his new housing plan at the start of his campaign for the 2015 elections last Sunday, said a Reuters report.

A new era of rigid fiscal scrutiny would be imposed by the European Commission to prevent repeated occurrences of financial turmoil and to aid the region's debt crisis.

After the Federal Reserve announced a halt on its proposed bond buying reduction program, the worldwide tension over the US monetary policy had also subsided, said a Reuters report.

According to four top US Federal Reserve officials, the central bank had confused financial markets after announcing a reduced monthly bond buying pace.

The US-India ties were seen to lose its shine over economic differences and was even admitted by India's National Security Adviser.

Orders for US manufactured goods declined in August which showed a possible sign of companies holding back their investments due to uncertainties in US government spending.