Irelandâ??s sovereign credit ratings were cut for the second time in three months on Monday amid heightened concern about the soaring cost of bailing out the countryâ??s ailing banking sector.
Federal prosecutors are expected to indict a former chief executive of what was once one of the world's largest investment funds on charges that he signed off on bogus tax shelters designed to save the wealthiest of the wealthy millions, according to the New York Times and the Seattle Times.
Pension funds look to invest in hedge funds (Fund News)
Pension funds, family trusts and other investors are expected to invest at least $50bn in hedge funds this year, according to a study by Barclays Capital.
International Petroleum Investment Corp (IPIC), an investment vehicle of the Abu Dhabi royal family, announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its investment.