PRESS DIGEST - FINANCIAL TIMES - OCT 30

Mon Oct 29, 2012 11:12pm EDT

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Financial Times

Headlines

HITACHI AGREES UK NUCLEAR PURCHASE -

SANDY SLAMS INTO US EAST COAST -

PENGUIN AND RANDOM HOUSE SIGN MERGER DEAL -

CARLYLE SUBMITS PLAN FOR LONDON SKYSCRAPER -

APPLE SHAKES UP SENIOR RANKS -

SPANISH LENDERS FACE WRITEDOWNS -

GLENCORE TO OFFER TO SELL ZINC ASSETS

EDITOR CHARGED OVER SWISS BANK EXPOSE ATTACKS 'SICK' GREEK SYSTEM

Overview

HITACHI AGREES UK NUCLEAR PURCHASE

Hitachi Ltd agreed to buy the Horizon nuclear project for 700 million pounds from its German owners, beating a rival bid from Westinghouse Electric Co and leaving the project's owners "turning cartwheels" at the price.

SANDY SLAMS INTO US EAST COAST

Sandy hit the U.S. as a post-tropical storm on Monday, flooding coastal communities, cutting electricity supplies to hundreds of thousands of homes and leaving schools, financial markets and most businesses planning for another day of closure on Tuesday.

PENGUIN AND RANDOM HOUSE SIGN MERGER DEAL

Parents Bertelsmann and Pearson signed a deal to merge their respective publishing arms, after the Financial Times owner shunned an approach by News Corp to buy its book publisher, in favour of the German media company.

CARLYLE SUBMITS PLAN FOR LONDON SKYSCRAPER

The U.S. private equity group jumped on the London real estate bandwagon on Monday with a proposal for a 1 billion pound development including a 48-storey skyscraper and 500 luxury apartments on the South bank of the Thames.

APPLE SHAKES UP SENIOR RANKS

Apple's has replaced Scott Forstall as its senior software executive after the technology company faced complaints about its malfunctioning maps service. Retail head John Browett is abruptly departing after just six months in the job, leaving hardware design chief Jony Ive with extra responsibility.

SPANISH LENDERS FACE WRITEDOWNS

Spain's bad bank will take on real estate assets at sharply lower values, as the country's new asset management company imposes an average writedown of 45.6 percent on property loans and 63.1 percent on foreclosed properties held by Spanish lenders, in an effort to entice private investors into the scheme.

GLENCORE TO OFFER TO SELL ZINC ASSETS

The commodities trader will offer to sell some assets or change supply contracts on Tuesday, to appease the European Union and speed approval for its $80 billion tie-up with XStrata.

EDITOR CHARGED OVER SWISS BANK EXPOSE ATTACKS 'SICK' GREEK SYSTEM

The Greek journalist who published the names of 2,000 Greeks with Swiss bank accounts said he acted in the public interest to show "how sick the system is" in Greece.

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