Page 1144 


Lloyds returns to profit, bonus pool hits $655m

Pile Of Coins

State-backed Lloyds Banking Group has swung back into profit, delivering a £1.7 million ($2.8 million) bonus for its chief executive despite amassing £10.3 billion in misselling provisions in the last three years.

Fund closure signals trouble in emerging markets

Exit Sign

Word Monday that Brevan Howard Asset Management was closing its emerging-markets fund hit a nerve with other fund managers focusing on developing economies, many of whom have had a tough start to the year.

Banks can't compete with hedge funds in hiring

Hedge Fund

Another day, another handful of traders fleeing large investment banks for hedge funds. This time, Bloomberg News reports, it is two Goldman Sachs Managing Directors joining Citadel, Kenneth Griffin’s giant hedge fund, which is based in Chicago.