1. Chinese stock brokerage bigwig on trial for insider trading

BEIJING (AP): The former president of a major Chinese stock brokerage has gone on trial on insider-trading charges in connection with the company's 2006 stock market debut, a state news agency reported Saturday. Dong Zhengqing, former president of Guangfa Securities, the country's sixth-largest brokerage, denied any wrongdoing and rejected an earlier confession at the trial Friday in China's southern business capital of Guangzhou, the Xinhua News Agency said. Dong is accused of tipping off his brother about Guangfa's plans to obtain a stock market listing by acquiring a company that already was publicly traded. Investigators say Dong's brother, Dewei, and a former schoolmate, Zhao Shuya, profited by buying the second company's shares in advance of an announcement. Chinese regulators are trying to clean up financial markets... [read full story]