Wednesday Papers: Credit Suisse unit in York Capital move - bid news and gossip

Financial Times

* The asset management arm of Credit Suisse is paying $425m for a minority stake in York Capital Management, a hedge fund firm; the deal would likely value York Capital, which has $14bn in assets under management, at more than $2.5bn.

* Evercore Partners has invested $20m in cash and securities for a 50% sake in G5, a boutique bank in Brazil focused on M&A and investment management.

* India watchdog blocks Lafarge’s plans to build a cement plant in the Himalayas.

* The number of chronically hungry people will decline 10 per cent this year, the first fall since 1995, said the UN.

* JPMorgan chief Jamie Dimon hits out at the raft of US and international rules, saying they would lead to higher costs and less credit for customers ranging from hedge funds to small savers.

* Eaton Corp, the US manufacturer, is exploring ways to bypass proposed legislation on derivatives that some industrial companies fear may spell trouble for their operations.

* Ashmore, the emerging markets-focused asset manager, is planning further expansion into developing markets as it seeks to tap into local investor demand.

* Canada’s financial services regulator has opened the door for the country’s big banks to pursue acquisitions and raise their dividends after a three-year hiatus.

The Guardian

* Jump in clothing and food prices keep UK inflation above 3%.

* Fears £9bn clean coal programme could be drastically scaled back.