PRESS DIGEST - Financial Times - Nov 2

Thu Nov 1, 2012 8:55pm EDT

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Financial Times

Headlines

BANK OF ENGLAND'S CULTURE ATTACKED -

BANKS IN LINE OF FIRE OVER PPI FIGURES -

SHARP ADMITS 'MATERIAL DOUBT' ON SURVIVAL -

SHELL WARNS REFINING BOOM TO END SOON -

EUROPEAN CORPORATE BUYBACKS HIT LOWS -

POTASH IN TALKS TO BUY ISRAEL CHEMICALS - 1

MOSCOW DEFENDS ROSNEFT MOVE ON TNK-BP -

STORM OVER 'LAGARDE LIST' INTENSIFIES -

Overview

BANK OF ENGLAND'S CULTURE ATTACKED

Excessive deference and hierarchy is damaging the Bank of England's effectiveness, according to three independent reviews that criticise the central bank's culture.

BANKS IN LINE OF FIRE OVER PPI FIGURES

The bill for UK banks for mis-selling payment protection insurance is set to hit 10.8 billion pounds on Friday when RBS sets aside another 400 million pounds.

SHARP ADMITS 'MATERIAL DOUBT' ON SURVIVAL

Sharp has admitted there is "material doubt" about its ability to stay in business as it warned of a second year of record losses.

SHELL WARNS REFINING BOOM TO END SOON

The refining boom that buoyed oil majors' third-quarter results could be shortlived, Royal Dutch Shell has warned.

EUROPEAN CORPORATE BUYBACKS HIT LOWS

Share buybacks by European companies have sunk to the lowest levels since 2009 as pessimism over business conditions spurs managements to hold on to cash.

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.

MOSCOW DEFENDS ROSNEFT MOVE ON TNK-BP

Igor Shuvalov, Russia's first deputy prime minister, has defended Rosneft's acquisition of TNK-BP as helping to speed the privatisation of the state oil group.

STORM OVER 'LAGARDE LIST' INTENSIFIES

Greece's parliament has been asked to investigate why two former finance ministers did not pursue possible tax evaders with Swiss bank accounts.

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