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Bill Miller leaves Legg Mason

exit

Legg Mason's Bill Miller, whose mutual fund beat the S&P 500 handily for 15 consecutive years at the turn of the century, is riding off into the sunset after his recent lagging returns left a trail of disappointed investors.

Friday's global equity loss worst ever

Money On Hook

The $2.08tril wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor's Dow Jones Indices.

Top firms may have credit ratings cut

Ribbon Cutting

JPMorgan, Bank of America and Citigroup are among eight large U.S. banks that may have credit grades cut by Standard & Poor’s on the prospect that the U.S. government is less likely to provide aid in a crisis.

RBS and S&P sued by European investors

Gavel

Royal Bank of Scotland and rating agency Standard & Poor's have been sued by a group of European institutional investors for damages of up to $250m suffered on complex financial products in the lead-up to the global financial crisis.

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Bill Miller leaves Legg Mason

Legg Mason's Bill Miller, whose mutual fund beat the S&P 500 handily for 15 consecutive years at the turn of the century, is riding off into the sunset after his recent lagging returns left a trail of disappointed investors.

Money On Hook

Friday's global equity loss worst ever

The $2.08tril wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor's Dow Jones Indices.

Ribbon Cutting

Top firms may have credit ratings cut

JPMorgan, Bank of America and Citigroup are among eight large U.S. banks that may have credit grades cut by Standard & Poor’s on the prospect that the U.S. government is less likely to provide aid in a crisis.