Turkish mobile phone company Turkcell has taken to a South African court its $4.2 billion lawsuit against rival MTN Group, alleging it was the victim of "corruption and bribery" that caused it to lose a contract in Iran.

The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China. The move comes as U.S. authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached U.S. bribery laws.

Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.

The Pac-Man defense has been used by Men's Wearhouse as it makes a counteroffer to Jos. A. Bank Clothiers which first made a bid to buy Men's Wearhouse this year.

3 U.S Senators published an op-ed in the New York Times today, questioning on why American citizens were not able to have the knowledge to challenge the infringement of their privacy rights.

Private equity firm TPG has asked a specialised Dutch court to order an inquiry into the affairs of Strauss Coffee, in which it holds a 25 percent stake, claiming majority owner Strauss Group had abused its rights in the company.

According to a report by Bloomberg, the charts produced by market-data provider Nanex LLC caused the ire of some traders, who insisted that Nanex's charts caused unnecessary investor anxiety.

In its efforts to restructure the company, Bank of Cyprus hired former deputy chief executive Euan Hamilton from the Royal Bank of Scotland as a consultant. Bank of Cyprus's efforts to turn the state of the company around has been hindered by political infighting as well as heavy criticism over its lack of transparency.

China Banking Regulatory Commission's new rules will prohibit banks to circumvent lending limits via loan restructuring and other means, according to sources who had disclosed the new banking measures to Bloomberg.

The New York Times cited reports that have suggested that Level 3 Communications, which controls most of the fiber optic cables that connect everyone to the Internet, may have greenlighted the NSA to tap data from Yahoo and Google. Both companies have announced that they will now start encrypting their data.