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Cohen firm to stop special bonus incentive

No Pot Of Gold

Steven A. Cohen’s firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors.

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RBS sets aside £400m for FX probes

Royal Bank of Scotland (RBS ) made a total pre-tax profit of £1.27 billion ($2.03 billion) in the third quarter thanks to previously underperforming loans in Ireland being revalued.