Hannes Smarson is facing embezzlement charges is his role in the misappropriation of funds from FL Group hf during his time as its chairman.

The Hustle, as it was known, rewarded volume instead of quality for mortgages sold by Bank of America to Fannie Mae and Freddie Mac.

A new issue had arisen between the epic patent infringement battle between Samsung and Apple. A judge has found that Samsung violated a court ordered agreement as to the secrecy of Apple documentation filed on the case.

A diplomatic stand off between Australia and Indonesia was averted when the Australian Immigration Minister had ordered the boat people be brought to Christmas Island.

Assam Chief Minister Tarun Gogoi, in a press conference, discussed the construction of a cancer and surgical cleft center in his state with the help of private entities.

The highest cost is the back pay for the furloughed employees according the US government data. Ironically, the sixteen day government shutdown and government service interruptions had actually helped the job situation in the United States, not hurt it as earlier expected.

Cargill India to construct industrial factories located in Punjab. Cargill, the agriculture firm, announced recently the preparedness in constructing INR 100 crore ultra modern feed plant located int he Malwa belt in Punjab.

Employment, salaries, automotive and other industries grow after the sixteen day US government furlough.

EC Harris and Mace would form a joint venture to manage the construction of Kingdom Tower. The United Kingdom's EC Harris and Mace had signed a joint venture agreement to provide project management services.

According to Global Finance, the National Bank of Abu Dhabi is acclaimed as the world's safest bank.