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The Co-operative Bank's disgraced former chairman, Paul Flowers, apparently won the job because he beat his rivals' psychometric test scores, MPs on the Treasury Committee have been told.

Market Report: Glencore joins the boys in Brazil

The billionaire investor Carl Icahn will be sharing a spot on the share register of a Brazilian miner with Glencore. The world's largest commodities trader is hoping to grasp a share of the lucrative iron-ore market to add to its hold on the tradeable zinc, copper, grain and oil sectors, and has bought a holding in Ferrous Resources. Reports suggest it has offered funding to help develop the Viga mine in exchange for a bigger stake in the group.

Not bad for a year's work: Hedge fund top five pocket more than $1bn each

Five of the $2trillion (£1.3trn) hedge fund industry's biggest names each took home more than $1bn last year, according to Forbes magazine's latest Rich List for the industry.

Diamonds are every urban art guerilla's best friends

Banksy's latest has been torn off the wall of a Poundland and offered for sale in Miami

Hedge funds blamed for Apple share price dive

The sharp decline in Apple's shares at the end of last year, which led the stock to end 2012 down more that 24 per cent from its September peak, was partly a result of a sell-off by some of Wall Street's biggest hedge funds, regulatory filing made on Thursday show.

Investment View: Libor woes for banks could end up as a car crash

Judges will know successful claims could potentially bankrupt state-owned banks

Crest crosses the ocean for roadshow

The investor roadshow for the flotation of housebuilder Crest Nicholson moves to the UK this week, as its chief executive Stephen Stone tries to seal a valuation of up to £580m for the group.

Struggling Phoenix raises £25Om to restructure debts

The troubled insurance group Phoenix restructured its debt in a move that could finally pave the way for it to lift dividend payments to shareholders.

Ben Chu: What a wonderful world the magnificent Jamie Dimon inhabits

Davos Outlook Some things at Davos never change. The snow is heaped in thick slices on the gabled roofs. Audis with tinted windows prowl up and down the Promenade. Delegates are given goody bags filled with useless tat. And Jamie Dimon, the boss of JP Morgan, stands up, belligerently, for the banks.

Sergei Magnitsky: The Russian lawyer, who uncovered the fraud, died in prison in 2009

Lithuanian prosecutors open investigation into multi-million dollar tax fraud by Russian organised crime group

Prosecutors in Lithuania have opened an investigation into a multi-million dollar tax fraud carried out by a Russian organised crime group which used the Baltic nation’s banks to launder some of their money.

Moore loses its first star since Coffey exit

Moore Capital Management, one of the world's most famous hedge funds, has suffered its first key London departure since the retirement of star financier Greg Coffey last year.

Trading super-brain racks up shock losses for clients

David Harding, the Cambridge physicist turned super-computer trader, has some explaining to do to his extremely wealthy clients after recording a rare plunge in the value of his fund.

Faith in computer-driven funds shaken as top trader suffers loss

Philanthropic financier who inspired bestselling novel sees value of his $10bn fund plunge 3.5 per cent in 2012

Weavering chief is charged with fraud and forgery

The man behind failed hedge fund Weavering Capital has been charged with fraud, forgery and false accounting in the lead-up to the company's collapse in 2009.

Man chief executive steps aside for internal successor

The beleaguered boss of the world's biggest listed hedge fund yesterday bowed to pressure and quit with a pay-off worth at least $925,000 (£576,000).

Beleaguered Man Group boss Clarke heads for the exit

World's biggest listed hedge fund's chief leaves with a pay-off after investors' patience snaps over backfiring performance
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