Critics of the new rules requiring short-sellers to report their positions said the European Union's requirements had not made the hedge fund industry more competitive.
Legal & Regulatory
Hacker group Anonymous pleads guilty in PayPal hack
Thirteen defendants said they were guilty of the cyber attack against PayPal three years ago. They were members of a hacker group known as Anonymous.
AT&T asks permission from US SEC to ignore shareholder request on sharing customer info with government
AT&T has asked the permission of the US Securities and Exchange Commission to allow the firm to exclude a request from shareholders asking for the details how it shares customer information with government agencies in its annual meeting.
Bitcoins no longer accepted on Baidu
After the government announced a ban on the use of Bitcoin for financial institutions, China's biggest search engine Baidu Inc announced that it would no longer be accepting the digital currency as payment.
Sallie Mae files regulatory documents to split into two companies
Sallie Mae Corp, the largest student loan firm in the US, filed documents with the US Securities and Exchange Commission that will allow it to split into two companies. The deal is expected to be completed by the end of the second quarter of 2014.
Latest News
Lawmakers of the Sejm or the Polish Lower House of Parliament approved changes in the country's pension system to takeover government bonds currently held by 14 privately-run pension funds.
Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
Investment firm Catalyst Capital Group is the fourth bidder to withdraw from the Canadian government's auction of a 700 MHz wireless spectrum. Canada seeks to break the stronghold of three dominant players in the country's mobile phone business.
Talal Shakerchi-backed hedge fund Meditor Capital Management is shutting down its equity fund, citing European rules that require hedge fund firms to disclose their bearish bets against companies.
Crane Co. announced today that the European Commission has approved the definitive agreements to implement the licensing and divestiture Commitments by Crane Co. related to its pending acquisition of MEI Conlux Holdings.
China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
The San Francisco Bay Conservation and Development Commission said it will be looking into whether Google Inc had the complied with the necessary paperwork to build its barge project on Treasure Island.
Investors including the Bucks County Water & Sewer Authority in Pennsylvania, the city of Baltimore and the Central Bucks School District agreed to settle the municipal bond-rigging case it filed against Bank of America Corp.
Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
