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A U.S. appeals court upheld California's ban on the use of affirmative action in university admissions on Monday, reaffirming that public schools cannot base admission on race, gender or ethnicity.

Trade derivatives and end up owing money to a counterparty who goes bust and you will still have to pay out, a UK court decided on Tuesday, in a ruling that shelves radical changes to a framework contract governing millions of transactions worldwide.

A gunman opened fire at a Christian college in California on Monday, killing at least seven people and wounding three after telling former classmates: "Get in line and I'm going to kill you all."