SAC to Close London Office Amid U.S. Insider Probe

Oct. 22 (Bloomberg) -- SAC Capital Advisors LP plans to shut down its London office as the $14 billion hedge-fund firm founded by Steven A. Cohen scales back in the face of insider-trading allegations by U.S. prosecutors. SAC, headquartered in Stamford, Connecticut, will close down the U.K. office by the end of the year, President Tom Conheeney wrote in a memo sent to employees today. The firm this week cut six investment professionals in the U.S., Conheeney wrote. Katherine Burton reports on Bloomberg Television's "Market Makers."

Google Search: Crystal Ball for Election Results?
10:03 - Khosla Ventures partner Keith Rabois, Braintree head of commerce Harper Reed and Bloomberg’s Tim Higgins discuss how campaigns can use Google search data with Emily Chang on “Bloomberg West.” (Source: Bloomberg)
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