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Merrill Lynch brokerage thought to award record hiring bonuses

A Billion Dollars

Bank of America’s Merrill Lynch brokerage unit is said to have awarded a possible record-breaking hiring bonus to a team of financial advisers that has some industry experts questioning whether the move will end up costing the firm money in the long run, the FOX Business Network has learned.

Man Group agrees to acquire NewSmith

Man Group Logo

Man Group has entered into a conditional agreement to acquire the investment management business of NewSmith LLP, an equity investment manager with $1.2bn of funds under management.

Barclays bests hedge fund in court ruling

Hedge Fund

New York state's top court on Thursday reversed a 2013 ruling that found Barclays liable in a $300m dispute with hedge fund Black Diamond Capital over the British bank's refusal to pay back collateral.