PRESS DIGEST - Financial Times - Oct 14

Sun Oct 14, 2012 8:29pm EDT

Financial Times

Headlines

VIRGIN AND FLOWERS CONSIDER MOVE FOR RBS BRANCHES -

TORIES PLOT CASH-FOR-SEATS OFFER TO CLEGG -

US WOMAN TAKES ON BANKS OVER LIBOR -

CLG TRIO SIT ON $220 MLN MAN LOSS -

SPONSORS STAND BY LANCE ARMSTRONG -

IASB CHAIRMAN LAMENTS DELAYS TO REFORM -

YIELD HUNTERS LOOK TO TIER TWO DEBT -

FORMER ROCK CHIEF TO HEAD HASTINGS -

SIEMENS IS PREPARED TO QUIT ITALIAN DEAL -

FREEZE BUSINESS RATES, SAY RETAILERS -

CAPITAL-RAISING TO FUND VIRGIN MOBILE EXPANSION -

Overview

VIRGIN AND FLOWERS CONSIDER MOVE FOR RBS BRANCHES

Richard Branson and U.S. private equity entrepreneur Christopher Flowers are set to go head to head for hundreds of branches being offloaded by RBS.

TORIES PLOT CASH-FOR-SEATS OFFER TO CLEGG

Senior Conservatives are plotting an audacious "cash-for-seats" offer to Lib Dem leader and Deputy Prime Minister Nick Clegg.

US WOMAN TAKES ON BANKS OVER LIBOR

A pensioner whose home was repossessed is taking on some of the world's leading banks in the first known class-action lawsuit.

CLG TRIO SIT ON $220 MLN MAN LOSS

Three principals of hedge fund GLG Partners are sitting on a $220 million paper loss two years on from their firm's acquisition by Man Group.

SPONSORS STAND BY LANCE ARMSTRONG

Lance Armstrong's high-profile sponsors, including Nike and Anheuser-Busch, are standing by the professional cyclist.

IASB CHAIRMAN LAMENTS DELAYS TO REFORM

The chairman of the International Accounting Standards Board has delivered a scathing assessment of its progress in carrying out urgent reforms.

YIELD HUNTERS LOOK TO TIER TWO DEBT

Banks are taking advantage of investor demand for high-yielding assets to issue large quantities of a form of riskier debt.

FORMER ROCK CHIEF TO HEAD HASTINGS

Gary Hoffman, is to take the helm at Hastings, the insurer considering following Direct Line and launching on the stock market.

SIEMENS IS PREPARED TO QUIT ITALIAN DEAL

Siemens is prepared to walk away from its 1.3 billion euros ($1.69 billion) offer to buy Ansaldo Energia .

FREEZE BUSINESS RATES, SAY RETAILERS

Some of Britain's leading retail chiefs are calling for the government to freeze business rates as they battle brutal conditions on the high street.

CAPITAL-RAISING TO FUND VIRGIN MOBILE EXPANSION

Richard Branson is raising $90-$100 million from investors and private equity groups to roll out the Virgin Mobile brand to at least six new markets.

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