A New York court has approved a deal between Well Advantage, a company indirectly owned by China Rongsheng Heavy Industries non-executive director Zhang Zhirong, and the US Securities and Exchange Commission, over alleged insider dealing involving shares of Canadian energy company Nexen. Well Advantage, which will pay US$14.24 million, did not admit or deny the share trading allegations. Keith Wallis

Leucadia National agreed to buy the portion of Jefferies Group it doesn't already own for about US$2.76 billion. Investors will receive 0.81 Leucadia share for each Jefferies share they own, the companies said in a statement. Bloomberg