The European Banking Authority intends to complete an assessment of the region’s capital needs in time for a meeting of European Union finance ministers next week, said Jonathan Todd, a spokesman for the European Commission.
R. Allen Stanford, the indicted financier, sued U.S. prosecutors and agents of the FBI and Securities and Exchange Commission, accusing them of “abusive law enforcement” and seeking $7.2 billion in damages.
Raj Rajaratnam, the Galleon Group LLC co-founder whom prosecutors called “the modern face of illegal insider trading,” was sentenced to 11 years in prison, one of the longest terms ever for insider trading, though less than half of the maximum sought by the government.
Google Inc.’s Motorola Mobility unit was sent a European Union antitrust complaint for abusing its dominant position as part of a probe into its control of key patents in gadgets such as Apple Inc. iPhones and iPads.
European Union data privacy rules forcing companies such as Google Inc. and Yahoo! Inc. to seek consent before targeting users with online advertising may sow confusion because of national differences in the way they are applied.