Affiliated Managers Group Inc., the company that owns stakes in more than two dozen money managers, rose the most in more than two years after earnings beat analysts’ expectations and the firm agreed to its third acquisition in two months.
Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, was sentenced to 2 1/2 years in prison for his part in a scheme to falsify the value of mortgage-backed bonds in 2007.
Legg Mason Inc., the money manager that has struggled with more than five years of net redemptions, posted a fiscal third-quarter profit after a loss a year earlier, as assets and fees tied to performance rose.
The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.
Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital agreed to buy HJ Heinz Co. for about $23 billion as the billionaires increased their bets on consumer products. Munger, Tolles & Olson LLP represented Berkshire Hathaway. Kirkland & Ellis LLP represented 3G Capital, and Davis Polk & Wardwell LLP provided legal counsel to the ketchup maker.
Barclays Plc plans to open its first Asian dark pool in Tokyo, and Daiwa Securities Capital Markets Co. is looking to expand into Hong Kong and Singapore, as popularity of the off-exchange trading platforms increases.