Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
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.
Latest News
Investment firm Catalyst Capital Group is the fourth bidder to withdraw from the Canadian government's auction of a 700 MHz wireless spectrum. Canada seeks to break the stronghold of three dominant players in the country's mobile phone business.
Talal Shakerchi-backed hedge fund Meditor Capital Management is shutting down its equity fund, citing European rules that require hedge fund firms to disclose their bearish bets against companies.
Crane Co. announced today that the European Commission has approved the definitive agreements to implement the licensing and divestiture Commitments by Crane Co. related to its pending acquisition of MEI Conlux Holdings.
China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
The San Francisco Bay Conservation and Development Commission said it will be looking into whether Google Inc had the complied with the necessary paperwork to build its barge project on Treasure Island.
Investors including the Bucks County Water & Sewer Authority in Pennsylvania, the city of Baltimore and the Central Bucks School District agreed to settle the municipal bond-rigging case it filed against Bank of America Corp.
Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.
