A raft of Swiss cantons are holding public referendums to abolish the tax deals for rich foreigners. On Sunday, Thurgau will vote on whether to scrap the deals. Another five cantons are set to hold similar referendums over the next few months.
Clive Capital loses more than $400m in last weeks oil slide (Fund News)
Clive Capital, the world's largest commodity hedge fund, lost more than $400 million due to the collapse of the price of oil last week, according to the Financial Times on Sunday.
Kiener confesses to running a Ponzi-Scheme (Fund News)
K1 Group founder Helmut Kiener, accused of running a $500m Ponzi scheme, told a court he manipulated account statements and lacked the ??courage? to shut his hedge fund after he realized the scale of the losses.
Porsche faces new $1bn lawsuit by hedge funds (Fund News)
Several prominent hedge funds, including Greenlight Capital LP and Tiger Global LP, have filed a new lawsuit accusing German automaker Porsche SE of cornering the market in shares of Volkswagen AG, causing more than $1bn of losses.