PRESS DIGEST - Financial Times - Oct 8

Sun Oct 7, 2012 7:49pm EDT

Financial Times

Headlines

UK AUSTERITY SQUEEZE SET TO RUN UNTIL 2018 -

SIR GUS WITHDRAWS FROM BOE GOVERNOR RACE -

INVESCO VOICES CONCERN OVER BAE TIE-UP -

REGULATOR WARNS ON AUDITORS' ALUMNI -

'WORST US QUARTERLY EARNINGS SINCE 2009' -

GOOGLE MAKES FIRST FORAY INTO CREDIT BUSINESS -

FOXCONN SUFFERS UNREST AT IPHONE FACTORY -

OSBORNE CONFIRMS 10 BLN GBP MORE IN CUTS -

FAVOURABLE TAX DRAWS COMPANIES TO UK -

EU HAPPY WITH UK RURAL BROADBAND PLAN -

Overview

UK AUSTERITY SQUEEZE SET TO RUN UNTIL 2018

George Osborne is set to be told this autumn that he will have to plug another large hole in the public finances, extending austerity until 2018.

SIR GUS WITHDRAWS FROM BOE GOVERNOR RACE

Gus O'Donnell, former British cabinet secretary, has decided not to apply to become Bank of England governor.

INVESCO VOICES CONCERN OVER BAE TIE-UP

BAE Systems' largest shareholder will on Monday signal its "significant reservations" about the UK defence group's proposed tie-up with EADS.

REGULATOR WARNS ON AUDITORS' ALUMNI

The four leading accountancy firms in Britain could be helping to stifle competition in the audit market, according to a UK regulator probing the dominance of PwC, Deloitte , KPMG and Ernst & Young.

'WORST US QUARTERLY EARNINGS SINCE 2009'

The slowdown in the global economy is expected to result in one of the worst quarterly earnings seasons since late 2009.

GOOGLE MAKES FIRST FORAY INTO CREDIT BUSINESS

Google is getting into the credit business for the first time, with the launch on Monday of a programme in the UK.

FOXCONN SUFFERS UNREST AT IPHONE FACTORY

Foxconn , the Taiwanese contract manufacturer that makes products for Apple, has been hit by a second bout of labour unrest.

OSBORNE CONFIRMS 10 BLN GBP MORE IN CUTS

George Osborne will on Monday confirm plans to slash a further 10 billion pounds ($16.19 billion) from the welfare bill to tackle Britain's debt crisis.

FAVOURABLE TAX DRAWS COMPANIES TO UK

At least 20 multinationals are drawing up plans to move their regional or global headquarters to Britain over the next year.

EU HAPPY WITH UK RURAL BROADBAND PLAN

The European competition commissioner Joaquin Almunia is ready to approve plans to pump 530 million pounds ($858.23 million) of UK state aid into rural broadband.

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