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Koch Industries confirmed in an email to BBC about a Daily Caller report of the company backing out on a bid for Tribune Co.'s publications, including Los Angeles Times and Chicago Tribune.

India's richest man Mukesh Ambani lost a total of 24% of his wealth after the valuation of the rupee decreased.

Facebook CEO Mark Zuckerberg would lead a project focused on making web access affordable for the 5 billion individuals worldwide who are not online yet.

Today Fibra Inn said that it had acquired Hotel Camino Real Guanajuato over a deal valued MXN230 million.

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After Everbright Securities Co. made erroneous buy orders of CNY23.4 billion last August 16, the state-backed firm suspended the head of its proprietary trading division.

Vestas Wind Systems replaced its current CEO Ditley Engel with Anders Runevad who would start his duties on September 1.

The Royal Bank of Canada Global Asset Management unit named Mayur Nallamala as its new Asian equities head.

Sergei Shvetsov was named as the head of a new Russian "mega-regulator" to oversee the country's financial markets.

African Barrick Gold named industry veteran Bradley A. Gordon as its new Chief Executive Officer. African Barrick Gold appointed Bradley A. Gordon as its new Chief Executive Officer.

Prudential Financial Inc. hired Frank Garcia, a former property investments manager at Deutsche Bank AG.

Socialspiel received EUR200K new funds from angel fund FLOOR13 and ex-Rockstar Games veterans, Clemens Beer and Mike Borras.

Koos Bekker became a billionaire earlier this year after he transformed Naspers Ltd. from an old-print business into the largest media firm.

Carlyle Group LP welcomed its new member Matthew O'Connor, an executive from GE Capital, who was hired as managing director for the company's energy team.

Leonard Riggio suspended his planned bid for Barnes & Noble Inc.'s retail businesses amid the firm's accelerating losses.