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( — European countries led by France and Germany plan to push through controversial hedge fund regulations next week after turning down British pleas to defer a vote in Brussels. The refusal by Paris and Berlin to delay a decision on the new rules, which are opposed by the UK, has set up a bruising early confrontation with David Cameron’s new government. The directive has also caused concern in the US. Tim Geithner, Treasury secretary, wrote to EU officials in March warning that, if unchanged, the new regulations could trigger a transatlantic rift by unfairly locking US funds out of European markets.

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