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Pressure grows over BP arts sponsorship

Royal Opera House

BP is facing increased pressure over its sponsorship of the arts following protests this week over its patronage of the Royal Opera House and a legal row around its support for the Tate galleries.

Hedge funds snubbed in Alibaba IPO allocation

Receading Hedge

Many hedge funds that placed orders for shares in Alibaba's initial public offering received woefully small allocations, highlighting the ultra-selective process that favored investors who already have a close relationship with the company.