Private equity chiefs yesterday failed to persuade key members of the Treasury select committee that they should pay as little as 5% tax on their investments, despite their repeated attempts to show the industry was "a force for good", The Guardian reports.
Top executives from companies including Permira, owner of the AA, and Kohlberg Kravis Roberts, which recently bought Boots Alliance in a highly leveraged £12bn deal, defended their industry under close questioning by MPs, citing examples of jobs growth and the benefits of their activities for the economy. A PLANNED FIRE SALE OF ASSETS from two crippled hedge funds has been attracting the attention of a nervous Wall Street, for fear it could reveal billions of dollars of hidden losses across the financial system, The Independent reports. Bear Stearns, the investment bank formed in 1923, ...
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