Indian tycoon Vijay Mallya guilty of disobeying top court

India’s top court on Tuesday found wanted tycoon Vijay Mallya guilty of disobeying its order barring him from transferring $40 million to his children.

Mallya, who fled to London last year, is wanted in India on charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline. India has been seeking his extradition over the charges, which Mallya denies.

IMF agrees terms for $5 billion loan to debt-ridden Mongolia

The Mongolian government and envoys from the International Monetary Fund said Sunday that they and other partners have agreed on terms for a more than $5 billion loan package to the north Asian country to help get its economy back on track.

The deal is subject to approval by the IMF's executive board, which is expected to consider Mongolia's request in March.

Deutsche, Credit Suisse to compensate consumers post-crisis

Nine years after the collapse of the U.S. housing market sent shockwaves through the global economy, two European banks have agreed to offer American homeowners and borrowers billions of dollars' worth of help under a settlement related to the sale of risky securities that helped spark the 2008 crisis.

Deutsche Bank and Credit Suisse said Friday they agreed to the tentative settlements with the U.S. Justice Department over their dealings in mortgage-backed bonds.