PRESS DIGEST - Financial Times - July 5

Wed Jul 4, 2012 8:37pm EDT

Financial Times

Headlines

FSA HAD CONCERNS OVER BARCLAYS CULTURE -

SPAIN OPENS BANKIA FRAUD PROBE -

SCIENTISTS BASK IN 'GOD PARTICLE' DISCOVERY -

FIAT WARNS ANOTHER ITALIAN PLANT AT RISK -

SANY JOB CUTS SIGNAL CHINESE SLOWDOWN -

WELLS FARGO TAKES LEAD IN BANK LOBBYING -

ETIHAD PLEDGES TO HOLD ON TO AER LINGUS STAKE -

VW TO BUY REST OF PORSCHE FOR BILLIONS -

Overview

FSA HAD CONCERNS OVER BARCLAYS CULTURE

The UK's financial regulator, the FSA, had concerns about cultural failings at Barclays under former chief executive Bob Diamond four months before the Libor revelations.

SPAIN OPENS BANKIA FRAUD PROBE

Spain's high court has opened a probe into Rodrigo Rato who was until recently chairman of Bankia, the lender at the forefront of Spain's banking crisis.

SCIENTISTS BASK IN 'GOD PARTICLE' DISCOVERY

Physicists at Cern, the European nuclear research centre in Geneva, on Wednesday announced the discovery of the long-sought Higgs boson, known as the "god particle".

FIAT WARNS ANOTHER ITALIAN PLANT AT RISK

Fiat's chief executive said the carmaker may need to close another plant in Italy if the company does not secure more flexibility from workers unions.

SANY JOB CUTS SIGNAL CHINESE SLOWDOWN

Sany Group, China's biggest maker of construction machines by revenues, has started cutting its workforce in a sign of slowing growth in the world's second-largest economy.

WELLS FARGO TAKES LEAD IN BANK LOBBYING

Wells Fargo spends more on lobbying from its Washington office than any rival, paying millions of dollars to influence mortgage rules.

ETIHAD PLEDGES TO HOLD ON TO AER LINGUS STAKE

Etihad Airways is not willing to sell its 2 percent stake in the Irish flag carrier Aer Lingus, which is subject to a takeover bid by Ryanair.

VW TO BUY REST OF PORSCHE FOR BILLIONS

Volkswagen has agreed to buy the other half of Porsche's carmaking operations that it does not already own.

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