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U.S. Defense Secretary Chuck Hagel resigned on Monday, leaving under pressure as President Barack Obama faces critical national security challenges, including fighting Islamic State in Iraq and Syria and revising plans to exit Afghanistan.

China's corruption watchdog has launched a series of inspections into state-owned enterprises and government bodies including China Petrochemical Corp (Sinopec Group), Asia's largest oil refiner, state media said on Monday.

A unit of Citigroup Inc must pay a $15 million fine for not adequately supervising communications among its equity research analysts, clients and the firm's sales and trading staff, Wall Street's industry funded regulator said on Monday.