PRESS DIGEST - Financial Times - Jan 27

Financial Times

EX-BANK OF AMERICA BROKER FACES FINE ACTION

UK regulators are seeking to fine a former Bank of America Merrill Lynch broker about 350,000 pounds ($549,500) for his role in hedge fund manager David Einhorn's improper trading ahead of the 2009 equity raising by Punch Taverns.

UK RETAILERS CRITICISE 'ARCHAIC' RENTS

UK high street retailers Clinton Cards, Monsoon, Accessorize and Sports Direct have taken a stand against the landlords of their shops, demanding the right to pay rents on a monthly rather than quarterly basis to ease cash flow pressures.

CARREFOUR CLOSE TO REPLACING CHIEF EXECUTIVE

Carrefour is in the final stages of negotiations to replace Lars Olofsson, chief executive, with veteran French retailer Georges Plassat after months of turmoil at the world's second-largest retailer by sales.

UK GOVERNMENT TO LAUNCH GREEN ENERGY FUND

International organisations and the UK government will launch a new public-private investment fund on Friday to provide seed finance for at least 3 billion pounds of green energy projects in emerging and developing countries.

NYSE CHIEF 'MISJUDGED' DEUTSCHE BOERSE DEAL

Duncan Niederauer, chief executive of NYSE Euronext, has admitted he "misjudged" European antitrust authorities' approach to his exchange's attempted tie-up with Deutsche Boerse , saying there was only a "glimmer of hope" the deal would succeed.

TCHENGUIZ TO SELL FREEHOLDS FOR 3 BILLION POUNDS

Veteran property tycoon Vincent Tchenguiz is selling a portfolio of UK ground rents for 3 billion pounds in a deal that will give the buyer control over the freeholds of 250,000 UK homes.

BNP AIMS TO SELL ENERGY LOAN PORTFOLIO

BNP Paribas, France's largest bank by assets, has put on the block up to $11 billion of loans to oil and gas companies.

PWC DISCLOSES RIVAL'S ATTEMPT TO POACH CLIENT

In the sober world of auditing, discretion is key. But that has not stopped the UK arm of PwC from revealing an alleged attempt to poach Lloyds Banking Group, one of its most lucrative clients.

SERCO LOOKS TO CUT 500 JOBS

Serco, the FTSE 100 outsourcer, is to overhaul its management structure, axing at least 500 jobs, as it adapts to tougher market conditions in the UK, according to sources close to the company.

GREEK RESCUE DEAL POISED FOR REVIEW

Euro zone policymakers are preparing to review the size and terms of the 130 billion euro rescue package for Greece agreed last year, depending on the outcome of the negotiations with private creditors over Greek debt relief which reopened in Athens on Thursday.