ECB cuts interest rates to nearly zero to help bank liquidity amidst the current Eurozone recession.

SEC Commissioner Gallagher says one cannot outsource their fiduciary duties. According to a high ranking US securities regulator, lawmakers should review the role that advisory firms play during corporate regulations and determine if regulatory measures are necessary to allow them greater roles during the process.

S&P downgrades Berkshire Hathaway from AA plus to AA. Standard and Poor's, the renowned credit rating agency, has announced that it would be cutting Berkshire Hathaway's rating from 'AA plus' to 'AA'.

Erste Group Bank has confirmed the ability to pay off state bailout funds but did not provide a schedule for the same.

The Philippines' DOTC approves seven bidders for Metro Cebu airport project. The government of the Republic of the Philippines have released a list of approved and qualified builders for a US$430 million airport project.

NBGI Private Equity signs Tim Kelly as its second board member for its Senior Industry Advisory Board.

HgCapital pulls toymaker Schleich out of the market. HgCapital. the European equity group, has halted the sale of German toy company Schleich. Schleich manufactures miniature animal figures and popular blue toys called Smurf.

ADIA appoints John McCarthy to head its global division for infrastructure investments. One of the world's biggest sovereign wealth funds, the Abu Dhabi Investment Authority announced the appointment of John McCarthy as global division head of infrastructure.

Edwards Wildman to partner with Ismen Law Firm of Istanbul. The law firm of Edwards, Wildman and Palmer LLP, gladly unveiled to the public its plan to extend its office to Istanbul and work closely with Ismen Law Firm depending on the regulatory consent by the Istanbul Bar Association.

Suntech was able to obtain another deferment as to the loan obligations that would fall due on May 15.