Citing sources who were familiar with the matter, the Financial Times reported that Shanghai has approved six foreign hedge funds to raise money from investors within China.

Bayer said regulators in China were investigating their local office in the mainland for alleged unfair competition practices.

Sources told the Wall Street Journal that JPMorgan & Chase would be allocating USD 4 billion to strengthen its oversight controls.

McDonald's made a buyout offer to Vikram Bakshi as the giant fast food chain planned to effectively settle dispute between the two sides.

US Bankruptcy Judge Sean Lane approved American Airlines' petition to exit bankruptcy today at a court hearing held in Manhattan.

Tax avoidance systems in EU member countries are to be investigated by EU. An investigation is to be conducted by the European Union on Ireland, Luxembourg and the Netherlands for allegations these countries gave multinationals favorable tax deals over and above the EU's anti-competition rules.

TradeKing Group Inc. announced receiving an approval from FINRA for its acquisition of GAIN Securities Inc. assets.

Japan was said to be studying the possibility of giving a USD 50 billion economic stimulus package to cushion the possible drag of its planned tax hike, sources told Reuters.

UK banks would need another GBP50 billion on top of GBP13.7 billion to comply with both Basel III and Basel IV.

EU submits a list of proposals aimed to improve the EU telecommunications industry. In its newest attempt to overhaul the European Union's telecommunications industry, a proposal to place a price cap on cross border phone calls in Europe was made.