Cerberus Capital Management LP plans to reduce its stake in Japanese mid-sized lender Aozora Bank Ltd bringing down its stake in the bank from 58 percent to 7.7 percent.

Carlyle Group plans to sell its remaining stake in China's third-largest insurer in a deal valued at up to $790 million, marking the U.S. private equity fund's largest gross profit ever from an investment.

Walt Disney Co, which reported record earnings in November, started an internal cost cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters.

Bank of America Corp on Monday entered an $11.6 billion settlement to end Fannie Mae's claims that the bank improperly sold it mortgages that later soured, and to resolve problems with foreclosures, the companies said.

BMW will cut back on sales discounts in Germany and focus on maintaining profit margins rather than market share, Chief Executive Norbert Reithofer told German weekly WirtschaftsWoche.

France will not take over insolvent Swiss refiner Petroplus' oil refinery in Normandy, but could help the plant financially once a suitable buyer is found, President Francois Hollande said on Saturday.

The Hutchinson 3G Austrai-Orange Austria deal, valued at $1.7 billion (1.3-billion-euro), received European and Austrian regulatory approval, giving H3G the opportunity to push ahead with its plan to build a nationwide LTE network in the country.

The Treasury Department watchdog ordered JPMorgan Chase & Co to work with U.S. regulators seeking documents in connection with a probe into the bank's relationship with convicted Ponzi schemer Bernard Madoff, in a warning letter dated Dec. 21.

With rise in demand for car-sharing services in the U.S., Avis Budget Group Inc. has decided to buy out car-sharing company Zipcar Inc. for estimated $500 million.

Qatar-based cable news channel Al Jazeera has reportedly taken over U.S.-based news and opinion channel Current TV for estimated at $500 million.