PRESS DIGEST - Financial Times - Oct 10
'TIME SHORT' FOR EUROZONE, SAYS CAMERON
David Cameron has urged European leaders to take a "big bazooka" approach to resolving the eurozone crisis, warning they have just a matter of weeks to avert economic disaster.
BANKS TO BE FORCED TO BOOST LIQUID ASSESTS
Global banking regulators will press ahead with the first worldwide effort to force banks to hold more liquid assets and cut back the industry's reliance on short-term funding, despite complaints that the rule changes could damage the broader economy, the new chairman of the Basel Committee on Banking Supervision has warned.
CAMERON WANTS 'SAFEGUARDS' FOR FINANCIAL SERVICES
David Cameron is to demand "safeguards" to prevent France and other eurozone countries from distorting the European Union's single market in an attempt to shift financial services from Britain to the single currency area.
LLOYDS SET FOR LOSS ON REAL ESTATE DEAL
Lloyds Banking Group seems poised to take a loss of about 35 percent on a 1 billion pound ($1.6 billion) basket of commercial property debt as it enters second-round talks with four remaining bidders for the portfolio, according to people familiar with the process.
IMI LOOKS TO SPEND BIG ON ACQUISITIONS
IMI , the UK engineering group, is investigating spending up to several hundred million pounds on acquisitions to bolster its position in niche fields.
UK REGULATOR CRITICISES FRENCH AUDITORS
French auditors have been lambasted by the UK's leading accountancy regulator for their performance during the Greek debt crisis.
LADBROKES TAKEOVER OF RIVAL UNDER THREAT
Ladbrokes may pull the plug on its potential takeover of Sportingbet even if the online gambling suitor removes a perceived stumbling block to the deal by selling its Turkish business, according to people with knowledge of the situation.
STEEL COMPANIES BRACED FOR PRICE FALL
The steel industry faces tough times with companies braced for falling prices as buyers delay orders because of extreme nervousness about global economic weakness.