Man Group

Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its subsidiary, GLG Partners, for $355m (£220.4m) in cash.

Man Group has launched a multi-strategy fund investing across a range of its own funds, and those of its subsidiaries including recently acquired GLG Partners.

After a total of 14 years with Fidelity, Peter Hicks will leave the company next month. Here's our round-up of this week's big industry movers...

Partners at BlueCrest Capital Management have brought ownership of the $25bn hedge fund manager wholly in-house by buying partnership interests held by Man Group and retired co-founder Bill Reeves.

Source has launched its Man GLG Europe Plus Source ETF, an actively managed strategy investing in European stocks recommended by a pool of leading brokers.

The FTSE 100 edged higher in early afternoon trading Monday on optimism BP is beginning to take control of the oil spill in the Gulf of Mexico, but the euro continues to languish.

Man Group has agreed a deal to acquire GLG Partners for $1.6bn.

Broker downgrades and companies going ex-dividend pulled the FTSE index 25 points, or 0.4% lower this morning.

The FTSE was up 27.5 points (0.5%) to 5271.63, buoyed by gains among mining firms.

Millions of Britons face higher council tax bills to cover the £60bn hole in local government pensions.