Hedge fund DE Shaw limits investors
One of the most profitable hedge funds has closed its doors to new clients, calling time on the industry’s ability to square vast inflows of money with the promise of market-beating returns. DE Shaw’s move means that of the largest six, only Man Group and Och-Ziff, are accepting cash into their flagship funds.
Vodafone prepares to up India stake
Vodafone is preparing to invest as much as $2bn (£1.2bn) to buy out minority shareholders in its Indian business, becoming the first firm to take advantage of new rules liberalising foreign ownership. It will file an application this month to win permission for the investment, said two people familiar with the situation.
Penalty plan for banks on ECB aid
EU regulators are preparing to penalise lenders that remain reliant on the European Central Bank’s cheap funding scheme. It underlines tensions between the need to maintain liquidity to lenders and attempts to wean them off their dependence on ECB support.
Foreigners buy top London homes
Overseas buyers continue to dominate the prime housing market in Britain’s capital with nearly half the sales of London property over £1m going to foreign nationals.
Charities defend welfare claimants
More than 70 leading charities have called on politicians to stop maligning welfare claimants by stereotyping them as shirkers.
The Daily Telegraph
Sir Martin Sorrell: America tarnished
Political stalemate in Washington is damaging “Brand America”, industry chiefs including WPP chief Sir Martin Sorrell warned yesterday, as the country moves closer to a default.
THE WALL STREET JOURNAL
French minister cries foul over ban France’s agriculture minister has criticised Amazon after the internet retailer banned selling foie gras on its British website.
Etihad Airlines CEO reveals US plans
Etihad Airways said it would launch daily nonstop flights from Los Angeles to the carrier’s Abu Dhabi home hub starting in June 2014.
Buffett’s crisis-lending haul $10bn
Billionaire Warren Buffett tossed lifelines to a handful of blue-chip companies during the financial crisis. Five years on the payoff is becoming clear: $10bn and counting.