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Pimco said to have taken a $42bn hit

Bill Gross On Bernanke Still

With investors anticipating the end of the Federal Reserve’s stimulus program, the biggest mutual fund in the world, Pimco’s Total Return Fund, took a $41bn hit over the past four months after losses and withdrawals, according to Morningstar.

'Fryscraper' London's latest attraction

Crumpled Sun

For the next three weeks, Londoners and tourists will have the chance to marvel at the city’s latest attraction: a beam of light so hot it melted parts of a Jaguar sports car and sparked a fire at a local barber shop.




Toshiba plans job cuts, CEO to leave within three years

Toshiba Corp may lay off staff in its underperforming home appliances, TV and PC businesses and seek partnerships for its nuclear operations to overhaul the company after a $1.3 billion accounting scandal, its chief executive said on Thursday.