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Glenn Mulcaire, 40, who is accused of hacking phones and was jailed in in January 2007 for intercepting the phone calls of royal aides, has said that he is sorry.

Mulcaire affirmed that he did not intend to derail the police investigation. He hacked into the voice mail for the News of the World, said “I want to apologise to anybody who was hurt or upset.

A new international body has been established in order to fight cyber criminals on a global scale with the backing of business and government agencies in different countries around the world.

The International Cyber Security Protection Alliance (ICSPA), which was launched today, is backed by several security companies including McAfee and Trend Micro, while Europol is the major law agency to join the initiative. The government of the UK has also announced its backing for the body.

PayPal UK’s Twitter account has been hacked by cyber criminals, whoa re using the account to post messages criticizing the online payment processing company.

The message claimed it is from an unsatisfied customer, who said the company "froze all my money for no reason". The hacker criticized eBay subsidiary for its poor security and encouraged users to go to PayPal Sucks, a website which claims to be focus on exposing "the nightmare of doing business" through PayPal.

The Reserve Bank of India restricted banks investment in liquid and short term schemes of mutual funds (MF). The RBI has announced that the banks can invest up to 10% of the last year’s net, as according to the liquid or short term debt schemes of MF, but they should not exceed the time span by a year.

The RBI stated that the banks which have invested more than the 10% profit in such schemes will not be permitted to fulfill the condition at this point of time, but they have to do it within six months from the date of announcement.

This decision of RBI can bring a negative effect to the Assets Under Management (AUM) of fund houses which majorly depends on the money flows from banks.

It has been reported that IDBI Bank has bought 10% stake in Universal Commodity Exchange (UCX). The bank’s Chairman and Managing Director R. M. Malla said, “The idea behind acquiring equity is to push agricultural loan through this venture”. IDBI is the only bank having stake in UCX and therefore, all the transactions will be done through IDBI.

On 5th of July, 2011 the Telecom Disputes Settlement & Appellate Tribunal (TDSAT) has asked the Department of telecom (DoT) to free the Idea Cellular from the hefty fine of Rs 250 crore. DoT imposed a fine upon Idea after finding it guilty for holding overlapping mobile permits in five telecom circles.

Idea has been in the news since it acquired Spice Communications. Spice Communications has the permission to operate in the six regions namely, Punjab, Karnataka, Andhra Pradesh, Delhi, Haryana and Maharashtra. However, the deal provided Idea a license to operate only in Punjab and Karnataka.