PRESS DIGEST - Financial Times - Aug 23

The Financial Times

BROKERS FACE FINES OVER ROLE IN FLASH CRASH

Brokers who failed to undertake proper checks on high frequency traders could face potential fines as part of a probe following the "flash crash," the head of U.S. watchdog FINRA said. here

FRANCE'S LAGARDE HITS BACK AT DEFICIT CRITICS

French Finance Minister Christine Lagarde said the governments plans to cut its deficit are "realistic and prudent" and denied that growth estimates are overly optimistic. here

BLACKSTONE INVESTS IN CHINESE HOUSING MARKET

U.S. private equity firm Blackstone (BX.N) has agreed a deal with a major Hong Kong property developer to build luxury apartments in the country including 1,000 new homes in northern China. here

MF GLOBAL TO ENTER MONEY MANAGEMENT

MF Global Holdings MF.N will make a push into money management and investment banking as it plans to capitalize on its strength in commodities markets. here

GIC EYES PROPERT ASSETS IPO

GIC, Singapore's main sovereign wealth fund, is close to giving the go-ahead for an initial public offering of its Global Logistics Properties units valued between $2-3 billion. here

ZTE WINS 200 MLN EURO TELENOR CONTRACT

ZTE (0763.HK), the telecoms equipment maker, has won a 200 million euro contract for Norway's Telenor (TEL.OL) for as many as 4.2 million users in Hungary. here

(Summary compiled by Reuters)