Rolling coverage of the latest economic and financial newsOver in Parliament, MPs on the Business and Trade committee are probing the role of private equity in the UK retail sector.Eli Talmor, professor at London Business School, has told MPs that private equity has grown from the fringe to centre stage in last two decades.Cashing in in a very big way because private equity is a wonderful reward system.Their fees are phenomenal, both direct and indirect. They have reaped a very big harvest.What you will see is much poorer performance figures coming out of the industry.I think the going will be tougher for the institutional investors who back them as well as for the fund managers.“FINMA used the full range of tools available to it, and identified the risk of possible destabilisation at Credit Suisse at an early stage. Although its actions had an effect, they were unable to overcome the causes of the loss of confidence, such as shortcomings in strategy implementation and in risk management.“We are committed to ensuring that supervisors hold even better cards. The specific case of Credit Suisse illustrates both the possibilities and the limits of supervision. Continue reading...