Legal & Regulatory
Bitcoins no longer accepted on Baidu
After the government announced a ban on the use of Bitcoin for financial institutions, China's biggest search engine Baidu Inc announced that it would no longer be accepting the digital currency as payment.
Sallie Mae files regulatory documents to split into two companies
Sallie Mae Corp, the largest student loan firm in the US, filed documents with the US Securities and Exchange Commission that will allow it to split into two companies. The deal is expected to be completed by the end of the second quarter of 2014.
Judge gives final approval to BofA's Countrywide $500M settlement
US District Judge Mariana Pfaelzer gave final approval to the USD 500 million class action settlement between Bank of America's Countrywide unit and its investors.
Judge gives former Goldman trader nine months for hiding loss
Former Goldman Sachs Group Inc trader Matthew Taylor was given a prison term of nine months for concealing an unauthorized USD 8.3 billion trading position in 2007.