PRESS DIGEST - Financial Times - Dec 16

The Financial Times

BP SUED IN $21 BLN US GULF SPILL ACTION

BP (BP.L) faces penalties of $21 billion-plus if found fully liable for damages in a lawsuit over the oil accident in the Gulf of Mexico launched by the U.S. government on Wednesday.

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SIENNA MILLER ALLEGATIONS REIGNITE NEWSPAPER HACKING CONTROVERSY

Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper.

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AFGHAN CAMPAIGN WILL FAIL UNLESS PAKISTAN ACTS, WARNS U.S. OFFICIAL

The Nato campaign in Afghanistan is on a "bullet train to failure" unless the U.S. takes a tougher approach towards Pakistan shutting down sanctuaries for Taliban fighters, a senior U.S. official said.

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CSC REJECTS 2.9 BLN STG BID FROM U.S. RIVAL SIMON

Capital Shopping Centres (CSCG.L) has rejected the 2.9 billion pound takeover bid from U.S. rival Simon Property Group (SPG.N) but has been forced to delay a key shareholder vote over the contested acquisition of Manchester's Trafford Centre.

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GOLDMAN TRADER SZE BEGINS RAISING MONEY FOR HEDGE FUND

Morgan Sze, the global head of Goldman Sachs' (GS.N) biggest proprietary trading desk and one of the bank's most highly paid employees, has begun raising money for what is expected to be the largest hedge fund launch since the financial crisis began.

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(Summary compiled by Reuters)