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.

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.

Critics of the new rules requiring short-sellers to report their positions said the European Union's requirements had not made the hedge fund industry more competitive.

Lawmakers of the Sejm or the Polish Lower House of Parliament approved changes in the country's pension system to takeover government bonds currently held by 14 privately-run pension funds.

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.

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.