PRESS DIGEST - Financial Times - Nov 8

Wed Nov 7, 2012 8:55pm EST

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Headlines

NEW BATTLE FOLLOWS HARD ON OBAMA WIN

CULT OF EQUITY KILLED OFF BY PENSION FUNDS

MISSED DEBT TARGET TOPS BRITAIN'S AGENDA

EU HITS BACK AT IMF OVER AUSTERITY

EUROPE FEARS U.S. ENERGY GAP

CANTAB HITS CAPACITY AS IT BUCKS TREND

EADS OFFICES RAIDED IN BRIBERY PROBE

PEARSON IN CONFLICT OF INTERESTS PROBE

NORDIC GROUPS TO SLASH HEADCOUNT

Overview

NEW BATTLE FOLLOWS HARD ON OBAMA WIN

Barack Obama returned to Washington on Wednesday after his electoral victory over Mitt Romney, braced for emergency negotiations with Congress over the budgetary impasse that threatens to send the U.S. economy back into recession.

CULT OF EQUITY KILLED OFF BY PENSION FUNDS

UK pension funds are holding more bonds than equities for the first time since the so-called cult of equity in the 1950s, say leading City fund managers.

MISSED DEBT TARGET TOPS BRITAIN'S AGENDA

Leading members of the coalition are in urgent talks about how to handle a failure to meet the government's public debt target as ministers move into the final month before the December 5 autumn statement.

EU HITS BACK AT IMF OVER AUSTERITY

Brussels' defence is part of an economic forecast that shows several eurozone countries - including France, Belgium and Spain - are on track to miss their EU-mandated deficit targets, meaning they may be forced to impose yet more austerity to get budgets back in line.

EUROPE FEARS U.S. ENERGY GAP

Europe's ability to compete against the US as a manufacturing centre is being damaged by rising energy costs as North America benefits from cheap natural shale gas, Germany's biggest companies have warned.

CANTAB HITS CAPACITY AS IT BUCKS TREND

Cantab Capital Partners, the Cambridge-based hedge fund set up by an astrophysicist and former Goldman Sachs partner, is to stop accepting new money after its assets under management doubled this year to $4.5 billion.

EADS OFFICES RAIDED IN BRIBERY PROBE

Several EADS offices in Germany were raided by German state prosecutors and police on Tuesday as part of an investigation into alleged bribes paid to smooth the sale of Eurofighter Typhoon fighter jets to Austria five years ago.

PEARSON IN CONFLICT OF INTERESTS PROBE

Pearson is being investigated in the UK over possible conflicts of interest within its role as both a publisher of textbooks and an issuer of academic qualifications, as regulators seek to ensure that schools buying its teaching resources do not get any unfair advantages.

NORDIC GROUPS TO SLASH HEADCOUNT

Three of the biggest companies in the Nordic region on Wednesday announced plans to slash thousands of jobs in a further sign that Europe's economic problems are catching up with businesses in what was perceived as a haven.

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