US

EMERGING MARKETS

TECHNOLOGY

Stephen Schwarzman, the Blackstone chief executive, took home $213.5m in pay and dividends in 2011, after seeing his pay jump by a third.

The Dow Jones has closed above the 13,000 mark for the first time since the Lehman Brothers collapse prompted the market crash of 2008.

GEMs

Ardevora's Jeremy Lang has predicted global markets are halfway through a 12-week equity rally, and his team have wound back long US consumer positions as a result.

Jupiter CIO John Chatfeild-Roberts said he will not take punchy bets on risk assets while there is still the threat of a hard landing in China.

The S&P 500 edged up to its highest close since 2008, boosted by better-than-expected reports on home sales and consumer sentiment.

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