Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.

The role of private equity firms in Sweden are now under close scrutiny as the country rethinks its pioneering educational reforms that are emulated worldwide, a Reuters Insight report said.

Major banks on Wall Street are extremely anxious about the threat of the final deliberations of the Volcker rule, of which its provisions regarding the definition and exemption of market-making is set to be deliberated soon.

Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.

China sovereign investor Central Huijin Investment Ltd received approval the Shanghai Office of the People's Bank of China to trade on the interbank bond market, a Bloomberg report said.

Eight US technology firms in the US wrote an open letter to President Barack Obama, calling on government to impose stricter controls on online surveillance.

Court-appointed monitor Ernst & Young has extended the deadline for the acceptance of bids for Canadian wireless startup Mobilicity to December 16, a Reuters report said.

A capital gains tax set to take effect in April 2015 which would be levied on the homes sold to people living abroad could diminish the status of London as a property magnet for foreign investors, Bloomberg reported.

The Israeli parliament passed legislation on Monday aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.

Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.