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Hedge Fund Thought To Have Lost $1bn In July

MarketWatch reports that Boston-based Sowood Capital Management LP is the latest hedge fund to come out and confirm that it has suffered from the recent difficulties in the credit markets. The once $3bn hedgie has sent a letter to investors confirming that its net asset value had fallen to around $1.5bn, suggesting that up to $1bn was lost in the month of July alone.

Bankers Worry That Bonus Pots Are Shrinking

Dried Chilli

It's about this time of year when bankers head for a beach somewhere and take time out to ponder what they will do with their next bonus. With payouts for some of the bigger US firms now just over 4 months away, the summer break is usually a good time to start thinking about how your next wad will be spent. This year, however, it might be better to wait before you get too carried away.