China's corruption goes on overdrive with PetroChina officials falling in its wake. In a widening effort to push its anti-corruption campaign, China has included the country's most valuable company in its dragnet.

Deutsche Telekom was cleared of any wrongdoing in lawsuit filed by Kabel Deutschland. Deutsche Telekom emerged victorious when a Frankfurt court dismissed an overcharging case filed against the telecommunications company.

The Thai government would be looking to appeal Philip Morris International Inc's victory in tobacco case requiring larger health warnings on cigarette packs.

A 2009 lawsuit brought against Charles Schwab & Co Inc had been revived by a New York state appeals court.

A source told Reuters that JPMorgan has bee pressured by finance authorities to settle at least USD6 billion in mortgage claims.

U.S. Justice Department asked a federal court to set trial date on March 3 to hear arguments on whether it should halt a planned merger between US Airways and American Airlines.

A Philippine regulator postponed the bid for a ticketing system to be used by the MRT and LRT. The Department of Transportation and Communications (DOTC) in the Philippines deferred the submission of bids for the ticketing system of the country's rail transportation systems.

The Merrill Lynch unit of Bank of America corp would pay USD 160 million to settle a discrimination lawsuit filed by African-American financial advisers.

The US Court of Appeals in Denver ruled for the National Credit Union Administration and allowed it to use the extender statute to pursue its claims against big banks regarding MBS.

Wal-Mart Stores Inc signed a deal to import South African wine label Seven Sisters in an agreement that ended the legacy of apartheid.