OfficeMax faces suit from investor for breach of fiduciary duties. An OfficeMax Inc shareholder has filed suit against the directors of the company as it seeks to stop the takeover by Office Depot Inc.

BlackRock, the top money manager of the world, to hire 300 lawyers to monitor financial regulation all over the world.

Brown Vitter seeks to remove the issues created in the banking world that Dodd Frank started. How the tides have turned. A year ago, the big US banks lobby was focused on the amendment and/or total repeal of the Dodd-Frank financial reform law.

Bafin, the German financial markets watchdog, clears German Bank directors of any wrongdoing. Bafin, the German financial market regulator, have not come up with any proof that the directors of the German Bank are behind the manipulation of the standard interest rates, according to a top official of Bafin that the Wall Street Journal Deutschland had spoken with over the weekend.

According to an anonymous source relayed to an Italian newspaper reported by Reuters, Telecom Italia would retain its stock on the fixed line network to prevent any takeover by Hutchison Whampoa.

Judge Ugo Bellini finds no evidence of fraud nor urgency to deem the issuance of a seizure order. An Italian magistrate has thrown out a request to issue an order to seize nearly Eur1.

The European Commission receives subsidy complaint against China for illegal subsidies on solar glass sold in the EU market.

In a move to help local Saudis, unused residential and military lands may be confiscated for that purpose.

Greek Finance Minister urged the legislative body to pass the reform measures required as a precondition to the release of the Eur2.8 billion tranche of bailout funds for the country.

With the proposed US$400 billion asset ceiling and 10% equity retention limit, banks may be forced into complicated situations.