Hungary offers ?100m loan for Permira deal (Fund News)
The Hungarian government is throwing a lifeline to one of eastern Europe??s biggest private-equity deals by offering a ?100m loan to Borsodchem, the chemicals group acquired by Permira, the UK private equity firm, for ?1.6bn in 2006.
U.S. Probes Hedge Fund Manager Ribotsky (Fund News)
U.S. criminal authorities are probing whether Corey Ribotsky, Managing Member of NIR Group, a Roslyn, N.Y., hedge-fund, defrauded investors about their returns and the holdings of his various funds, The Wall Street Journal reported.
Britain??s economy contracted in the second quarter. Economic output fell by 0.8 per cent quarter-on-quarter in the three months to June, after a 2.4 per cent decline in the first quarter, according to the Office for National Statistics?? ??flash? first estimate of GDP.
Banks such as Lloyds Banking Group Plc and Dexia SA that received government bailouts may have to sell branches or units to win approval for restructuring plans under new European Union guidelines.