Buddah Lineage

Billionaire investor George Soros will only manage his own family's money in future due to the impact of new US regulations on hedge funds, his sons have said. His fund will return around $1bn (£625m) to outside investors, leaving it with around $24bn. Under the new Dodd-Frank Act, hedge funds will have to register with financial regulators. But family funds have some exemptions under new rules. George Soros is not the first fund manager to return outside investors' money. Stanley Druckenmiller, Soros' former deputy, Chris Shumway and Carl Icahn have all done so. The return of funds will not have a significant impact on the size of Soros' fund, or on its already small staff, although Keith Anderson, Soros' chief investment officer since 2008, will leave the company. 'Unfortunate' The fund has mostly handled family money since 2000. Reports suggest Mr Soros feels it is not worthwhile going through the expense and time of registering under the new regulations....

Macmillan, one of Britain's oldest publishing houses, today paid more than £11 million in a deal with the Serious Fraud Office after it admitted trying to use bribery to win a major educational book contract in Southern Sudan. The SFO was first tipped off by the World Bank which had funded the tender process to supply educational materials to one of the world's poorest nations. The bank said it had been approached with a bribe by an agent acting for Macmillan. The company then referred itself to the SFO and the City of London Police raided its offices in December 2009. Rather than face a criminal prosecution, Macmillan and the SFO worked towards a civil recovery of the proceeds of the money which the publisher generated illegally in its education division in East and West Africa. Today's £11.3 million High Court Order is one of the largest seen under this system. Macmillan agreed with the SFO to employ external lawyers to investigate potential bribery by it or its agents in...

MPs from all sides seem likely to back the motion, which reads: "The house believes that it is in the public interest for Rupert Murdoch and News Corporation to withdraw their bid for BSkyB." The vote would constitute an expression of Commons opinion and not be binding on a private company. However, Ed Miliband said it was necessary sometimes for parliament to speak on behalf of public opinion. Government sources said the Competition Commission review would continue for now and News Corp declined to comment. Shortly after the wording of the motion emerged the prime minister's spokesman said: "We are intending to support it." Asked whether the government believed that News Corp should heed the will of parliament, the spokesman replied: "Ultimately, that is a decision for News Corp but we would always expect people to take seriously what parliament has said." News Corp withdrew on Monday an offer to spin off Sky News, triggering a referral of its bid to ...

The government is facing increased pressure to block a takeover of the British satellite broadcaster amid a report that relatives of dead soldiers may have had their phones hacked by News of the World, Britain's biggest-selling Sunday paper. News International, the British newspaper arm of News Corp, said it would be "absolutely appalled" if the claims proved to be true. The main opposition Labour leader Ed Miliband said he was "disgusted" by the allegations, one day after he urged the coalition Conservative-Liberal Democrat government to delay its decision on the BSkyB deal. Miliband's demand came after a report alleged that journalists hacked the voicemail of murdered teenager Milly Dowler after her disappearance in 2002, and even deleted some messages, potentially disrupting the police investigation. Prime Minister David Cameron insisted on Wednesday that the row should not affect his government's decision, due within days, on whether News Corp should...

Britain's ugly phone-hacking scandal has taken a shock twist by claiming the scalp of the 168-year-old News of the World newspaper. Rupert Murdoch's News International stunned Britain on Thursday afternoon by announcing the best-selling tabloid would be published for the last time on Sunday. The decision followed an extraordinary three days of revelations about intrusive phone hacking and alleged pay-offs to police from the newspaper. Advertisement: Story continues below The tabloid is renowned for using dubious, and sometimes illegal, techniques to titillate its readers with stories about the personal lives of celebrities and politicians. However the newspaper crossed the line in the eyes of the public when it was revealed this week that it had tapped into the phone messages of murdered schoolgirl Milly Dowler and relatives of slain soldiers and 2005 London bombing victims. Murdoch's son, James, who heads the European operations for News International, said the newspaper w...