PRESS DIGEST - Financial Times - July 3
BARCLAYS CHIEF THREATENS TO HIT BACK -
GSK TO PAY $3 BILLION TO SETTLE U.S. CHARGES -
AMBITIOUS GOALS SET FOR PROBE INTO BANKS -
HEATWAVE THREATENS U.S. GRAIN HARVEST -
DELL PUSHES INTO SOFTWARE WITH $2.4 BLN DEAL -
DREYFUS SUED OVER COTTON 'PRICE-FIXING' -
MEXICO LEADER SHIFTS FOCUS ON DRUGS WAR -
BARCLAYS CHIEF THREATENS TO HIT BACK
Bob Diamond is threatening to reveal potentially embarrassing details about Barclays' dealings with regulators if he comes under fire at a parliamentary hearing on Wednesday over the Libor rate-setting scandal, according to people close to the bank's chief executive.
GSK TO PAY $3 BILLION TO SETTLE U.S. CHARGES
GlaxoSmithKline has agreed to pay a record $3 billion to settle U.S. regulators' charges of aggressive marketing and the selective use of data from clinical trials in its promotion of drugs beyond their authorised uses, including an antidepressant that one of its sales reps called the "happy, horny, skinny pill".
AMBITIOUS GOALS SET FOR PROBE INTO BANKS
British Finance Minister George Osborne has announced a six-month parliamentary inquiry into standards in the banking industry, an exercise immediately dubbed a "truth and reconciliation" process for the City of London and the British political elite.
HEATWAVE THREATENS US GRAIN HARVEST
An intense heatwave is threatening havoc with this year's U.S. grain harvest, burning up hopes of blockbuster yields and sending prices soaring.
DELL PUSHES INTO SOFTWARE WITH $2.4 BLN DEAL
Dell has laid the foundation for a broader move into software with a $2.4 billion all-cash acquisition that will accelerate the U.S. company's push beyond its core personal computer business.
DREYFUS SUED OVER COTTON 'PRICE-FIXING'
The former head of cotton at Glencore has personally sued rival Louis Dreyfus Commodities, accusing the trading house of market manipulation in a rare move that sheds light on the inner workings of the markets in the commodity.
MEXICO LEADER SHIFTS FOCUS ON DRUGS WAR
The winner of Mexico's presidential election will pursue a new strategy in the country's almost six-year war on drugs by creating a 40,000-strong security force to protect citizens rather than chasing drug traffickers and eradicating illicit crops.