US regulators have approved Google's $12.5bn (£7.9bn) bid for phone maker Motorola Mobility, hours after it won clearance from European authorities.

The European Commission ruled the deal would not raise competition issues in the market for operating systems for devices like mobile phones or tablets.

Regulators in the US agreed, although both authorities vowed to monitor the company and rivals' use of patents.

Approval from China, Taiwan and Israel is needed before the deal is completed.
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In other news, Apple topped $500 a share today.