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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.

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Analyst says Bank of America is blowing up Merrill Lynch

Nearly eight years after Bank of America purchased Merrill Lynch, one of the nation's leading bank analysts, Dick Bove, recently wrote that "Bank of America is simply blowing up the Merrill franchise presumably because it does not like the business or it does not know how to manage it."