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An European Union court Thursday dismissed MasterCard's challenge against a European Commission ruling that the global payments and technology company's cross-border interchange fees violated competition law.

The mayor of West New York, New Jersey and his son were arrested today for allegedly hacking into an e-mail account and website associated with a movement to recall the mayor, U.S. Attorney Paul J. Fishman announced.

Alan James Watson, 47, of Clinton Township, Michigan, was sentenced today to 12 years in prison for fraudulently soliciting and accepting $40 million from more than 900 members of his investment club, Cash Flow Financial LLC (CFF).

Dr. Donald Gibson, II, 56, of Sugarland, Texas, and Sunday Joseph Edem, 53, of Richmond, Texas, have been arrested for health care fraud and conspiracy to commit health care fraud relating medically unnecessary diagnostic testing and physical therapy, United States Attorney Kenneth Magidson announced today.

SAN FRANCISCO Investor ire over "false and misleading representations and omissions" during the run-up to the $16 billion IPO, saw two lawsuits being filed by shareholders in federal district court in New York against Facebook, Nasdaq OMX Group Inc., and its underwriters.

Google has announced finalization of its deal to buy Motorola Mobility, a key manufacturer of smartphones and other mobile devices, for a whopping $12.5 billion.

MANILA, PHILIPPINES Central banks and official institutions have bought 63 per cent of a $1.25 billion 3-year bond sold by the Asian Development Bank, the multilateral institution said Wednesday.

Even as Apple extended its lead as the world's most valuable corporate name, the company has renewed its bid for a court order immediately blocking sales of Samsung's Galaxy Tab 10.1 tablet computer on a patent infringement claim.

UK defense contractor BAE Systems has signed two contracts with Saudi Arabia including a 1.6 billion pounds contract for supply of 55 Pilatus PC-21 aircraft and another 224 million pounds contract with the Royal Saudi Air force for upgrading the electronic warfare systems on 70 F-15S fighter jets.

Boeing today marked another 787 milestone as the first Dreamliner built in South Carolina completed its first flight. Piloted by Tim Berg and Randy Neville, the airplane successfully conducted a five-hour test flight. More than 5,000 Boeing South Carolina employees watched a live broadcast of the airplane as it took off from Charleston International Airport.