The City of Los Angeles sued Time Warner Cable Inc for its failure to pay franchise fees amounting to nearly $10 million in the past, the Los Angeles Times reported.

Douglas Hodge, the Chief Executive Officer of Pimco, told German newspaper that the abrupt decision of Mohamed El-Erian to leave the firm surprised everyone, Reuters reported.

Mumbai, India-based financial services firm Financial Technologies (FTIL) will sell its commodity handling unit National Bulk Handling Corp (NBHC) for INR242 crore as the company goes through an investigation related to fraud allegations.

Five India-based companies have shown their interest in investing in the Zamboanga City Special Economic Zone Authority and Freeport (ZamboEcozone) during a recent business forum in Makati, Philippines.

According to security researchers at Securelist, the data stolen from the computer owned by Mt Gox Chief Operating Officer Mark Karpeles' computer contained malware that pretended to be a back-end app for Mt Gox transactions but actually stole users' Bitcoins.

American e-commerce giant Amazon is planning to hire hundreds of workers for its fourth fulfillment center in Kent, Washington, where customer orders will be packed and shipped.

Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.

Palo Alto, US-based beauty box retailer Memebox, which was imported from South Korea, bagged $1.5 million in venture funding to establish its presence in the US.

Warren Buffet said Bitcoins were a "mirage" and that investors should "stay away" from it, VentureBeat reported citing the investor's comments on CNBC's "Squawk Box."

Nigeria-based mobile security startup i.Sec nabbed $10 million in a funding round from private equity group Synergy Capital to prepare for its public launch this May and for other undisclosed purposes.