General Motors Co. has named Mary Barra as new chief executive officer a day after the US government exited its final shares of GM. Barra will replace GM CEO Dan Akerson who is retiring on January 15.

Chilean business tycoon and billionaire Alvaro Saieh said no proceeds that will be raised from an eventual stake sale of Corpbanca will be utilized to fund it sister firm SMU SA, a Bloomberg report said.

Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.

Head William Dean Chapman Reston of Virginia-based firm Alexander Capital Markets was found guilty of defrauding its investors including US Representative Alan Grayson of more than USD35 million in a loan scheme, Reuters said in a report.

Yoga-inspired athletic apparel firm Lululemon Athletica said Founder Chip Wilson will be stepping down as Chairman. He will be replaced by Michael Casey, the Lead Director of the Board.

Thomas Moore of Standard Life Investments has increased his fund's holdings in UK companies, betting that they will give better payouts in 2014, a Bloomberg report said.

Howard Chen, an analyst from Credit Suisse, will be joining the bank's Investment Banking Department as the Managing Director and Global Head of Financial Technology and Financial Strategies.

Balaji Srinivasan, the cofounder of genetic-testing company Counsyl, is joining the venture capital firm Andreessen Horowitz as a general partner, Andreessen Horowitz said on Monday.

Food-related companies like Hampton Creek Foods are seeing a rise in financial support from private equity firms and angel investors in the past few months to develop plant-based alternatives to food like eggs.

Bloomberg columnist and money manager Barry Ritholtz said in his column on Bloomberg that the hedge fund industry is saturated with too many funds that are performing fairly and charge high fees in return for their services.