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JPMorgan Cuts Dimon Pay 50%, Says CEO Responsible For Lapses

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon had his pay cut in half after a review of losses at the bank’s chief investment office found he bears responsibility for the blunders.

Dolce And Gabbana Become Billionaires Amid Global Spending Spree

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A surge in global demand for luxury goods and clothing has unveiled three Italian billionaires as valuations of the world’s best-known fashion brands soar.

Mariner Hedge Fund To Take Over Concordia’s Operations

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Mariner Investment Group, the $10.2 billion hedge fund founded by William Michaelcheck, said it agreed to take over the business operations of Concordia Advisors. Terms weren’t disclosed.

Morgan Stanley Said To Defer Bonuses to Top Bankers, Traders

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Morgan Stanley, the investment bank that’s cutting 1,600 jobs, is deferring 100 percent of bonuses for some senior bankers and traders over three years, according to a person briefed on the matter.

Road, Power Gaps May Cost U.S. GDP $3.1 Trillion, Group Says

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With $157 billion per year in added infrastructure spending over the next eight years, the U.S. would save $3.1 trillion in gross domestic product, $1.1 trillion in trade and 3...

Calpers Gained 13% In 2012 As Stocks Bury Private Equity

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The California Public Employees’ Retirement System, the largest U.S. pension at $252.3 billion, earned about 13 percent on invested assets last year, led by increases in stocks and private equity.

Donors Claim $1.1 Billion Skirting Tax Laws, Audit Says

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U.S. taxpayers routinely violate rules requiring them to prove the value of noncash contributions to charities, costing the government $1...

Recovery Saving 8 Million Underwater Homeowners

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The housing market is rebounding faster than anyone thought possible, as the Federal Reserve buys mortgage bonds to keep rates near record lows and investors sop up a diminishing supply of properties...

Morgan Stanley Seeks $10.2 Million From Convicted Ex-Trader

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Insider traders like Joseph F. “Chip” Skowron III must be held responsible for the harm they cause their employers, Morgan Stanley lawyers told an appeals court in a bid to recover $10.2 million.

Wall Street Returns to Property CDOS In Yield Hunt

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What’s old is new again on Wall Street as banks tap into soaring demand for commercial real estate debt by selling collateralized debt obligations, securities not seen since the last boom.

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