PRESS DIGEST - Financial Times - Jan 30

Financial Times

RBS ON VERGE OF HOARE GOVETT SALE

Royal Bank of Scotland is on the verge of clinching a deal to sell Hoare Govett, its corporate broking business and one of the most venerable names in the City of London, to fast-growing U.S. investment bank Jefferies.

EU'S CARMAKERS CRITICISE INDIA TRADE DEAL

Europe's carmakers are crying foul over a proposed trade agreement between the European Union and India, which they say would restrict access to one of their most important but highly protected markets.

UK BANKERS BRACED FOR JOB LOSSES

Nervous investment bankers in Britain are contacting headhunters in anticipation of a new wave of redundancies this year, while those already laid off are increasingly willing to accept temporary roles or positions overseas, according to senior figures in London's recruitment industry.

ABB CLOSES IN ON DEAL TO BUY THOMAS & BETTS

ABB, the Swiss electrical engineering group, is close to agreeing a deal to buy U.S.-listed Thomas & Betts for about $4 billion, people familiar with the situation said.

DEUTSCHE BANK TARGETS PROBLEM ASSETS

Deutsche Bank is preparing to launch a fund to snap up investors' illiquid or damaged holdings in hedge funds that have failed to recover since the financial crisis.

LLOYDS CHIEF PLANS MANAGEMENT CHANGES

The chief executive of Lloyds Banking Group Antonio Horta-Osorio is set to unveil plans to simplify the bank's management structure and hand more power to top executives, as he attempts to convince investors he can avoid a relapse of the exhaustion he suffered last year.

TORM STRUGGLING TO SOLVE DEBT PROBLEM

Danish shipping company Torm A/S is struggling to find either a significant new source of finance or agree a wholesale restructuring of its obligations to its banks as it seeks to withstand the sector's prolonged slump.

SHOP DIRECT CHIEF TO STEP DOWN

Mark Newton-Jones, chief executive of Shop Direct, is to step down after more than eight years at the helm of the home shopping retailer owned by Sir Frederick and Sir David Barclay.

TNT POST PREPARES FOR DIRECT CHALLENGE

TNT Post, Royal Mail's largest private sector rival, plans to go head-to-head with the state-owned postal operator by launching its own delivery service for bulk and direct mail.

SHL PUT UP FOR SALE BY HGCAPITAL

HgCapital is looking to sell SHL, the UK-based global leader in psychometric testing and the largest private employer of business psychologists in the world.