Briefs

Derivatives broker MF Global may be missing more than $1.2 billion of its customers’ cash—more than double the amount previously expected—said the trustee overseeing a liquidation of the failed firm run by former New Jersey Governor Jon Corzine. That would mean about 22 percent of the $5.4 billion in customer accounts are missing. The trustee hopes to recover all the customer funds. The brokerage’s parent company filed for bankruptcy after it made a $6.3 billion bad trading bet on European bonds. Regulators are investigating whether the firm moved money from its clients accounts into its own to cover its losses. Corzine has not commented on the situation.

Swedish truckmaker Volvo wants to sell its airplane engine component subsidiary to focus on heavy trucks and construction equipment, in the biggest structural shift since the company sold its passenger car division to Ford more than a decade ago. Volvo has been active in aviation systems since the 1940s and makes jet engine components, turbine structures, and fan cases. The unit, which saw its profits fall 54 percent to $15 million in the third quarter, has dragged down corporate earnings. Volvo hopes to close a deal by mid-2012.