Ivy Asset Management, part of Bank of New York Mellon, agrees to pay $210m to investors to whom it recommended fraudster Bernie Madoff.

The US government deficit rises 22% in October from a year ago, highlighting the challenge President Obama faces as the fiscal cliff looms.

Shares of Japan's Sharp jump after media reports that chip maker Intel may invest as much as 40bn yen ($500m; £315m) in the struggling firm.

Workers across the European Union are set to stage a series of protests against rising unemployment and austerity measures.

Profits at Cisco, the world's largest maker of networking equipment, jump thanks to rising sales and the impact of measures to cut costs.

Toyota says it will recall 2.7 million cars worldwide due to problems with their steering wheel and the water pump system.

BHP Billiton agrees a deal to sell its diamond business to jewellery firm Harry Winston, as it looks to focus on core businesses.

Supermarket group Sainsbury's posts half-year profits of £405m, a rise of 2.5% on the period last year.