Hedge Fund's Assets Fall by 95%

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London-based bond-trader Mako Investment Managers was a star performer in 2008, but assets under management of its flagship Pelagus Capital Fund have fallen 95% since the end of 2012.

Regulators Give First Feedback to Financial Firms on 'Living Wills'

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U.S. regulators gave three large nonbank financial firms initial feed back on the “living wills” they must create to describe how they would go through bankruptcy without causing broader economic damage.

Ford Posts 44% Jump in Profit

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Ford said steady demand for pickup trucks and SUVs pushed its North American operation’s second-quarter profit to record levels, helping offset softer conditions in China and continued losses in Europe.

Intel, Micron Claim Memory-Chip Breakthrough

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Intel and Micron say they developed a new breed of memory chips that could bring dramatic performance gains to computers, smartphones and other kinds of high-tech products.

Merck Earnings Hurt by Arthritis Drug Knockoffs

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Low-cost knockoffs of the arthritis treatment Remicade in Europe hurt Merck & Co.’s second-quarter sales and earnings, a harbinger of the pressure facing sellers of other costly biotechnology drugs in the coming years.

NantKwest Shares Pop in Debut

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Shares of immunotherapy biotech company NantKwest opened at $37 in their trading debut, 48% above their initial public offering price.

Investors Warned on Carlyle Fund

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Carlyle’s $5 billion hedge-fund firm, Claren Road Asset Management, faces the prospect of withdrawals after a consultant advised clients to pull their money following poor performance from bad bets on Greece and mortgage giants Fannie Mae and Freddie Mac.

WestJet Airlines Profit Climbs 19%

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WestJet Airlines Ltd. on Tuesday reported a 19% increase in its second-quarter profit and slightly stronger revenue, helped in part by lower fuel costs.

Honeywell Pays $5.1 Billion for German-Based Elster

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Honeywell has agreed to buy German-based energy and water business Elster Group from the U.K.’s Melrose Industries for £3.3 billion ($5.1 billion) in cash.

BP Still Needs to Drill Business for Cash

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BP has been active in cutting in response to the lower oil price environment. Its mixed success just reflects the challenge for the oil and gas sector.

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