Hedge Funds

A land of beaches, Bentleys ... and bankers galore

Bentleys, yachts and award-winning seafood restaurants are all well known to the residents of the three islands that make up the Cayman archipelago. But mention the islands' tax status and they're likely to clam up.

Revealed: Russian spy agency linked to dead lawyer

Russia's spy agency authorised a raid on a British investment firm in Moscow that led to a massive tax scam by allegedly corrupt officials and the death of a lawyer who tried to expose the fraud, new papers show. Sergei Magnitsky, a Moscow-based lawyer, died in November 2009 during pre-trial detention after he was arrested by a group of officials who were being investigated for tax fraud. No one has been imprisoned for his death.

United cash balance drops £100m

Manchester United's cash reserves fell by £100m in six months, in part to finance an investment in the squad attempting to win the fight for domestic supremacy with Manchester City.

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Gods Without Men, By Hari Kunzru

Ever since The Impressionist appeared in 2003, with its picaresque hero for post-colonial times, it was clear that Hari Kunzru's fiction was fuelled by an energetic intelligence. Along with a love of big ideas came narrative zest, verbal and comic flair, and an acute eye for contemporary mores both East and West. Is identity a fixed essence or a mimic matter assembled from conventions, the first novel asked.

SAC Capital receives subpoena over suspected insider trading

SAC Capital, the giant hedge fund run by billionaire Steven Cohen, told its investors that it has received an "extraordinarily broad" subpoena, as the US authorities widened their investigation into suspected insider trading on Wall Street.