PRESS DIGEST - Financial Times - June 12
LONDON, June 11 |
LONDON, June 11 (Reuters) - Financial Times
IMF REPORT AND BAILOUT CALM BANKING SECTOR
Spain's big banks are breathing a sigh of relief. The twin news of a clean bill of health from a key International Monetary Fund report, combined with confirmation of a planned 100 billion euros ($125.11 billion) European bailout will, they hope, finally convince investors to make a proper distinction between strong and weak.
BARROSO UPBEAT AS POLITICAL WINDS CHANGE
Since the euro zone debt crisis began two years ago, Jose Manuel Barroso has sometimes been criticised for lacking courage in his response.
BARROSO PUSHES EU BANKING UNION
All 27 EU countries should submit their big banks to a single cross-border supervisor as part of a banking union to be enacted as soon as next year, the president of the European Commission Jose Manuel Barroso has urged.
APPLE AND FACEBOOK TAKE AIM AT GOOGLE
Apple has struck a new alliance with Facebook to integrate the social network into its iPhone, iPad and Mac operating system at the same time as it introduces a range of new MacBook computers.
BANKS EYE INTANGIBLE ASSETS AS COLLATERAL
Several U.S. banks want to tap the value of the intellectual property holdings of their borrowers as a way of trimming their capital requirements, which are to be made tougher under Basel III rules.
ANGER AS BUSINESS CHIEFS' PAY SOARS 10 PERCENT
The row over rising executive pay has been reignited by a survey showing the median total remuneration of FTSE 100 bosses increased 10 percent last year to 3.7 million pounds ($5.74 million).
KPMG'S UK BOSS TO CHAIR NEW WATCHDOG
One of the UK's most senior accountants will serve as the first non-executive chairman of the Financial Conduct Authority, the UK's new investor protection and markets regulator.
SAUDI ARABIA SET TO CLASH WITH OPEC
Saudi Arabia is on course for a showdown with fellow OPEC members at this week's meeting of the global oil cartel, after it called for a higher output target despite the recent drop in crude prices.
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