TraderTools, a New York–based provider of software and services for financial institutions trading foreign currency, has raised $7 million in VC funding from Edison Venture Fund. Company management also provided an additional $500,000.
 

The Carlyle Group has completed its sale of AxleTech International to General Dynamics (NYSE: GD) for an undisclosed amount. Carlyle acquired AxleTech in late 2005 from Wynnchurch Capital. The company makes parts for military vehicles, commercial specialty trucks and off-highway machines.

Clarus Ventures has promoted Emmett Cunningham to partner and Scott Requadt to transactional partner. Cunningham joined Clarus in 2006, and serves on the board of SARcode. Requadt joined in 2005, and sits on the board of TyRx Pharma.
 

PNC Financial Services Group has completed its acquisition of National City Corp., which early last year had received a $785 million investment from Corsair Capital. The cash and stock deal is worth approximately $5.6 billion. 
 

U.S. HealthWorks Medical Group, a provider of outpatient occupational healthcare services in CaliforniaCalifornia clinics: First Care Occupational Medical Group in Valencia, and First Care Walk-In Medical Group in Saugus. No financial terms were disclosed. U.S. HealthWorks has raised around $131 million since 1996.