Former Goldman Sachs Group Inc trader Matthew Taylor has been sentenced to serve nine months in prison and pay $118m in restitution to his former employer after he pleaded guilty to pursuing an unauthorised $8.3bn futures trade in 2007.
US prosecutors have charged 49 current and former Russian diplomats and their family members for participating in a scheme to get health-care benefits intended for the poor.
The value of Bitcoins, the virtual currency that has soared in recent months and made fortunes for some, plunged after China banned its banks from providing related services and products.
The European Union has fined eight lenders an unprecedented sum of 1.7 billion euros ($2.3 billion) on Wednesday for rigging interest rates.
A federal judge's ruling that Detroit is eligible for bankruptcy protection offers municipal bond investors a dose of clarity that could be welcome news at the end of a rough year for the US municipal debt market.
More than 100 Australian and New Zealand victims of thalidomide have won a $81 million settlement from the parent of the company that distributed the drug that caused thousands of birth defects around the world.
Amazon CEO Jeff Bezos has revealed that his company plans to use "octocopter" mini-drones to fly small packages to consumers in just 30 minutes.
The leaders of five East African countries have signed a protocol laying the groundwork for a monetary union within 10 years that they expect will expand regional trade.
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