PRESS DIGEST - Financial Times - Nov 1

Wed Oct 31, 2012 9:06pm EDT

Financial Times

Headlines

REBELS DEAL BLOW TO CAMERON OVER EU -

WALL STREET CONTINGENCY PLANS TAKE HEAT -

COMET EDGES TOWARDS ADMINISTRATION -

BARCLAYS FACES US FINE OF $100 MLN -

INVESTOR CONCERNS OVER BG REVISION -

POTASH IN TALKS TO BUY ISRAEL CHEMICALS -

BOE DELAYS RESPONSE TO CRISIS REVIEWS -

SANDY SET TO COST INSURERS AT LEAST $7 BLN -

NEW DEBT FORECASTS DASH GREECE HOPES -

TELENOR SHIFTS STANCE ON VIMPELCOM STAKE -

Overview

REBELS DEAL BLOW TO CAMERON OVER EU

British Prime Minister David Cameron came under pressure to act tough on the European Union budget after losing a parliamentary vote on Wednesday.

WALL STREET CONTINGENCY PLANS TAKE HEAT

Flawed back-up systems marred Wall Street's return to work on Wednesday, while some blamed a lack of disaster preparation for the extended break in trading.

COMET EDGES TOWARDS ADMINISTRATION

Comet is on the brink of going into administration as early as Thursday, putting 6,000 jobs at risk.

BARCLAYS FACES RECORD US FINE

Barclays' was dealt a fresh blow when it emerged that the bank faces a record $470 million fine over alleged energy market manipulation.

INVESTOR CONCERNS OVER BG REVISION

Investor confidence in BG Group was shaken on Wednesday after the FTSE 100 energy group cut its production forecast for this year and next.

POTASH IN TALKS TO BUY ISRAEL CHEMICALS

Potash Corp has approached the Israeli government for approval to buy rival Israel Chemicals (ICL ), which has a market value of $15 billion.

BOE DELAYS RESPONSE TO CRISIS REVIEWS

The Bank of England will not give a full response to internal reviews of its handling of the financial crisis until a new governor is chosen.

SANDY SET TO COST INSURERS AT LEAST $7 BLN

Predictions say Sandy will rank among the eight most costly hurricanes ever to hit the United States, with losses to the insurance industry of at least $7 billion.

NEW DEBT FORECASTS DASH GREECE HOPES

The size of Greece's fiscal challenge was painted in sharp relief as Athens unveiled new budget projections exceeding worst-case scenarios.

TELENOR SHIFTS STANCE ON VIMPELCOM STAKE

Telenor has opened the door to a potential sale of its $6.4 billion stake in VimpelCom, the world's sixth-largest telecom group by subscribers.

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