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Hedge Fund Doubles Cost Cuts

Pair Of Scissors

Man Group surged as much as 12% in early London trading Tuesday, after the world’s biggest publicly traded hedge fund manager said it would double its planned cost cuts and reduce reliance on products with steeper commissions.

Barclays Seeks Far-Reaching Review Of Business Practices

Barclays Crest Sign

On 2 July, Barclays announced that it would establish an independent review of its business practices, reporting to Deputy Chairman, Sir Michael Rake, and a sub-committee of the Barclays Board. Barclays today announces that Anthony Salz has agreed to lead that review.




People News: JPMorgan, Credit Suisse.

JPMorgan is losing credit trader Chris Bruner to Tradeweb Markets, where he will help run the company’s corporate-bond trading unit, according to a person familiar with the matter.

Morgan Stanley HQ

Morgan Stanley fights $170m claim

The widow of the Home Shopping Network's co-founder is seeking more than $170m from Morgan Stanley in a case alleging, among other things, that the firm made excessive securities trades to boost commissions, according to a disclosure.