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Big Hedge Fund Losses Have Top Firms On The Run

Nose Dive

Bloomberg reports that Bear Stearns intends 'to take on $3.2bn in loans in an attempt to stop creditors seizing assets from one of its money-losing hedge funds' in what some are describing as the biggest hedge fund bail out since Long Term Capital Management in 1998.

JPMorgan Trading Floors - Blot On The Landscape ?

Bloomberg reports that the design of the new JPMorgan building close to Ground Zero has been unveiled. And the six 60,000 square foot trading floors that will be part of the new structure will jut out 127 feet above the building's facade, hovering above a church and park.

BNP, Barclays, Blackstone, GS, LSE, Man, UBS

Financial News reports that French bank BNP Paribas is planning to increase headcount in its investment banking division by up to 700 this year. 200 are thought likely to be hired in equity derivatives, with a couple of hundred more in fixed income front office. The unit will also hire to build out businesses in emerging markets.

Here Is The City Odds & Ends

BNP Paribas has confirmed that it is acquiring full ownership of New York-based fixed income fund manager Fischer Francis Trees & Watts. The firm has around $38bn under management. Deal terms have not been disclosed.