Page 589 


Hedge funds defend themselves over tax criticism

Ed Miliband

Hedge funds have defended themselves against criticism from Labour party leader Ed Miliband, arguing that they contributed £4bn in British taxes last year and would not benefit from changes in levies on financial trading.



Brazilian Flag

C Suisse said to cut Brazil fixed-income unit

Credit Suisse, the third-biggest investment bank by revenue last year in Brazil, is cutting nine executives from its fixed-income and structured-products business in the nation amid an industry slump, said two people with knowledge of the matter.