Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its institutional asset management subsidiary, GLG Partners, for $355m (£221m) in cash.
VENEZUELA - Petroleos de Venezuela will cover losses suffered by the company's pension fund when it invested in an alleged Ponzi scheme in the US, Oil Minister Rafael Ramirez said.
US - New York state attorney general Andrew Cuomo sued Bank of New York Mellon's investment advisory unit Ivy Asset Management for allegedly misleading clients about investments tied to Bernard Madoff.