The system of so-called "shadow banking" blamed for aggravating the global financial crisis grew to $67 trillion globally last year, a new high, amid calls from the world's top policymakers for greater control of the sector.

Australian surfwear company Billabong International Ltd, which had potential buyers withdraw takeover offers last month, said on Monday one of its directors wanted to investigate a possible leveraged buyout of the firm.

Hostess Brands Inc, the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management.

The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday.

Barclays did not make any "illegal payment" to win a banking license in Saudi Arabia, the bank said in a statement in response to a newspaper report last week that said U.S. authorities were looking at whether improper payments were made.

Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.

Spain's bad bank is generating a lot of interest among foreign investors, an economy ministry source said, and the government will meet with five investment banks on Monday to start the search for private capital.

Gravity has taken hold of Apple, and a lot of investors have been smacked on the head. (Reuters) - Gravity has taken hold of Apple, and a lot of investors have been smacked on the head.

Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.

Investors should brace for volatility over the next few months as U.S. politicians are unlikely to agree on a budget deal by year end, though that could lead to some good buying opportunities, Charles "Chuck" Schwab, founder and chairman of his namesake firm, said on Wednesday.

General Motors will not sell its loss-making European unit Opel or "simply close up shop and leave" it, the U.S. carmaker's Chief Executive told more than 5,000 staff in Germany.

A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.

Economic slowdown in China accompanied by new M&A-friendly regulatory norms have encouraged China-focused private equity firm FountainVest Partners to raise a second fund with the primary objective of making fresh acquisitions.

Beleaguered Japanese consumer electronics maker Sharp Corp is likely to attract investments from US-based Intel Corp and Qualcomm Inc towards the end of the month.

California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.

China-focused private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion in its second fund, the company said on Wednesday, defying tight fundraising conditions in Asia.

Stock markets retreated on Wednesday and a small bid for safety helped safe-haven U.S. Treasuries erase some losses as investors waited for progress in approving aid for Greece and in averting potential U.S. fiscal constraint in early 2013.

Jersey's financial watchdog is to probe anti-money laundering systems and controls at HSBC, following a report that Europe's biggest bank was harboring money for convicted criminals.

World stocks rose on Tuesday after U.S. markets turned higher, fueled by strong results from home improvement retailer Home Depot, while the euro rose from a more than two-month low against the dollar.

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.

Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.

Germany's largest utility, E.ON AG, warned it was reviewing its earnings outlook for 2013, citing weak economic conditions that have hurt the energy industry.

Ally Financial Inc is nearing a deal to sell its auto financing operations in Europe and Latin America for around $4 billion, with General Motors Co emerging.

Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.

Goldman Sachs Group Inc is in settlement talks with the U.S. government over an $8.3 billion position that one of the investment bank's traders had concealed five years ago, according to a published report.

Bain Capital LLC, the private equity firm co-founded by defeated presidential candidate Mitt Romney, thanked its investors on Thursday for their support and patience over the last year as it confronted "political hyperbole and distortion."

U.S. stocks and oil prices rebounded on Friday on news U.S. consumer sentiment rose in November to a more than five-year high, offsetting fears a looming "fiscal cliff" in the United States and Europe's troubled finances and weak economies may tip the world into recession.

HSBC, Europe's biggest bank, is at the center of an investigation by British tax authorities into leaked data that a newspaper said showed it provided accounts in the tax haven of Jersey for alleged criminals.

Stocks fell on Thursday as worries about lawmakers finding a timely solution to the "fiscal cliff" outweighed stronger-than-expected economic data.