Man Group gains from prototype
Man Group, the world’s second largest hedge fund manager, has shifted $1.5bn (£940m) of its flagship computerised fund AHL into an experimental new portfolio to boost ailing returns. The new vehicle, which Man has internally dubbed “evolution”, has made 18 per cent so far this year, and made 16 per cent last year, according to a person familiar with its performance. It has been developed by Man to help AHL, which manages $16.3bn, overcome the impact of quantitative easing and the Eurozone crisis
FT Deutschland faces closure
Gruner + Jahr is poised to announce the imminent closure of Financial Times Deutschland, the German business newspaper. While a decision is expected on Friday, staff at the paper are certain that closure is on the cards after 12 years.
China causes row with passports
Beijing has included its South China Sea territorial claims on maps printed inside new Chinese passports, infuriating at least one of its neighbours. Vietnam has made a formal complaint to Beijing about the new passports.
Bank drawn into Barclays hotel fight
The property tycoon fighting the Barclay brothers for control of Maybourne Hotel Group has written to the chairman of Barclays Bank to take issue with its financing of the business.
Archbishop told to seek help
Justin Welby, the next Archbishop of Canterbury, is under pressure to hire professional mediators to help to bridge the schism in the Church of England. He is likely to seek outside help.
The Daily Telegraph
MPS: HMRC disappointing on swaps
The taxman has been accused by MPs of pushing businesses that were mis-sold interest rate swaps into administration despite knowing the financial problems faced by the firms.
Mikhail Khodorkovsky attacks BP
Imprisoned Russian oligarch Mikhail Khodorkovsky has suggested BP chief executive Bob Dudley takes a “flexible” view of issues of corruption and human rights in Russia.
THE WALL STREET JOURNAL
GM secures deal with Ally Financial
General Motors clinched a $4.2bn (£2.6bn) deal to purchase bank holding firm Ally Financial’s European, Latin American and China operations, doubling the size of the auto maker's lending arm.
News Corp eyes book publisher
News Corp, owner of HarperCollins Publishers, has expressed interest to CBS about acquiring its Simon & Schuster book business, according to people familiar with the talks.