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Business news in brief

In the Region

Russian to control CEDC

Central European Distribution Corp., the struggling vodka maker with headquarters in Mount Laurel, turned over control to its largest shareholder, Moscow's Russian Standard Corp., in a deal that provides CEDC with an initial $65 million in funding. Russian Standard is headed by Russian billionaire Roustam Tariko, who will lead a new management committee overseeing CEDC. CEDC also appointed Grant Winterton as chief executive officer, effective Jan. 10, replacing interim CEO David Bailey. - Reid Kanaley

Nasdaq extends WPCS listing

WPCS International Inc., the Exton-based communications engineering firm, said the Nasdaq Stock Market is giving it an additional 180 days to get into compliance with Nasdaq's $1-per-share minimum requirement to avoid delisting. Shares closed unchanged Friday at 36 cents. The company originally had until Dec. 24 to achieve compliance. - Inquirer staff

Funds for some at MF Global

Some customers of the failed brokerage MF Global could get back all the money they lost, according to the trustee working to recover those funds. The Securities Investor Protection Corp. said there would "likely" be full restoration for securities customers who made "allowed" claims to get their money back. There should also be "significant additional distributions" to return some money to commodities customers, the organization said. MF Global was headed by former New Jersey Gov. Jon S. Corzine. It collapsed in October 2011 after a disastrous bet on European debt. - AP

3rd Fed buys Roebling Bank

TF Financial Corp., of Newtown, the parent company of 3rd Fed Bank, said it would acquire Roebling Financial Corp Inc., of Roebling, the parent company of Roebling Bank, in a cash and stock deal valued at $14.5 million. The combined banks will have about $850 million in assets, $640 million in loans, $660 million in deposits, and 19 locations, the banks said. - Inquirer staff


Three banks sued

Citigroup Inc., Royal Bank of Scotland Group P.L.C., and UBS AG were sued in separate cases in New York, accused of fraud in the sale of a total of $845 million in mortgage securities. DZ Bank AG sued Citigroup and RBS, while HSH Nordbank AG sued UBS and RBS, according to papers filed in New York state Supreme Court. - Bloomberg News