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Log Pile

Top asset manager cuts workforce

Pacific Investment Management Co. cut its workforce by 68 people, or about 3%, and is offering buyouts as assets under management have fallen in recent years, according to a memo obtained by Bloomberg.

Money On Hook

C Suisse - No evidence of ex-banker mis-using position

Credit Suisse said an internal investigation has found no evidence that a former banker, Sérgio Firmeza Machado, used his position at the bank to help his father funnel illicit campaign donations to Brazilian politicians as part of a sweeping corruption scandal.