Bitcoins suffered a blow in Norway as the government declared that it was not real money. It will be treated as an asset and be subject to a capital gains tax, Bloomberg reported.
Legal & Regulatory
Savient Pharmaceuticals gets approval from US Bankruptcy Court to sell all assets to Crealta
A US Bankruptcy Court gave its approval to Savient Pharmaceuticals to sell all substantially all its assets to Crealta Pharmaceuticals, a firm backed by private equity company GTCR.
Intellectual Ventures settles patent case against Altera
Intellectual Ventures has settled a lawsuit it brought against chipmaker Altera Corp, according to court filings in litigation against a group of semiconductor companies filed by the firm, which has purchased billions of dollars worth of patents.
Central bank of Russia shuts down Investbank, two more in criminal activity crackdown
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
GLG Partners Inc agrees on $9 million settlement with regulator for coal mine purchase
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
Latest News
China Daily on Thursday quoted National Development and Reform Commission's (NDRC) anti-price-fixing bureau Xu Kunlin, who said his agency has substantive evidence to prove that chipmaker Qualcomm Inc is involved in price-fixing acts.
A South Korean court awarded Apple a legal victory on a patent infringement case filed by Samsung Electronics Co. The decision would enable Apple to continue selling its products in South Korea, Reuters said in its report.
Bondholders and large depositors in a failing bank face taking losses from the start of 2016, European Union negotiators have agreed, a European Parliament lawmaker said on Wednesday.
The Luxembourg-based General Court declared on Wednesday that Cisco's antitrust concerns regarding Microsoft Corp's takeover of the largest Internet video and voice messaging provider Skype was unfounded.
The over 900 pages of preamble and regulations regarding the Volcker Rule appeared to have excluded market-making activities of Wall Street banks, said a Bloomberg report.
The row that occurred between 23andMe Inc and the Food and Drug Administration has led to stricter oversight of the genetic testing industry, according to a Bloomberg report.
A joint statement on Tuesday revealed that Micron Technology will be paying Rambus at $10 million in royalties per quarter for a seven-year period for the former's use of the latter's DRAM memory patents.
The Securities and Exchange Board of India or SEBI has tightened its control on mutual funds, causing frustration in asset managers, according to a Reuters report.
JPMorgan Chase has filed an application for a payment system that is similar in many ways to the controversial Bitcoin, according to a Financial Times report.
