PRESS DIGEST - Financial Times - Oct 4

Wed Oct 3, 2012 7:54pm EDT

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Financial Times

Headlines

THREE SUSPENDED OVER WEST COAST FIASCO -

NASDAQ SUFFERS FRESH HIGH-PROFILE GAFFE -

RIAL'S PLUNGE SPARKS TEHRAN CLASHES -

TESCO REPORTS FIRST PROFIT FALL IN 20 YEARS -

US COAL EXPORTS TO EUROPE SOAR -

PEARSON CHIEF SCARDINO TO STEP DOWN -

BUYERS POSITION FOR DIRECT LINE FLOAT -

PORTUGAL ANNOUNCES ENORMOUS TAX RISES -

US DATA POINT TO IMPETUS IN ECONOMY -

HP SHARES TUMBLE ON WARNING -

Overview

THREE SUSPENDED OVER WEST COAST FIASCO

The government on Wednesday suspended three civil servants as it investigates what went wrong with the West Coast rail franchise contest.

NASDAQ SUFFERS FRESH HIGH-PROFILE GAFFE

Nasdaq suffered its second high-profile embarrassment in six months when it was forced to cancel trades in Kraft Foods .

RIAL'S PLUNGE SPARKS TEHRAN CLASHES

Iranian riot police clashed with demonstrators in central Tehran on Wednesday over the plunging value of the rial.

TESCO REPORTS FIRST PROFIT FALL IN 20 YEARS

Tesco's first-half pre-tax profit fell 12 percent to 1.66 billion pounds ($2.67 billion) - its first such decline in two decades.

US COAL EXPORTS TO EUROPE SOAR

U.S. coal exports rose 24 percent in the first half of the year, according to the US Energy

PEARSON CHIEF SCARDINO TO STEP DOWN

Dame Marjorie Scardino will step down on January 1 as chief executive of Pearson.

BUYERS POSITION FOR DIRECT LINE FLOAT

Royal Bank of Scotland took a step toward floating a Direct Line after the partly nationalised lender found buyers for the first tranche of shares.

PORTUGAL ANNOUNCES ENORMOUS TAX INCREASES

Portugal announced sweeping new tax increases in an effort to keep the country's faltering bailout programme on track.

US DATA POINT TO IMPETUS IN ECONOMY

Stronger employment figures were cautiously hailed on Wednesday as a sign of momentum returning to the U.S. economy.

HP SHARES TUMBLE ON WARNING

Hewlett-Packard warned its underperforming business would get worse before it improved as the U.S. computer maker issued an outlook below expectations.

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