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Money managers who mimic the stock market just became the new titans of the fund-management world. Funds that track broad U.S. equity indexes hit $4.27 trillion in assets as of Aug. 31, according to Morningstar, giving them more money than stock-picking rivals for the first-ever monthly reporting period.57

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The FBI is investigating a payroll processor after about $30 million destined for paychecks and related tax payments went missing this month. Roughly 8,000 employees and nearly 400 companies have been affected.

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Among works that will go up for auction in Milan is Pablo Picasso’s ‘Nature Morte au Citron, à l’Orange et au Verre,’ completed in 1944.

Van Goghs, a Monet and other paintings collected by disgraced Parmalat founder Calisto Tanzi will be auctioned in Milan in October.1

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