PRESS DIGEST - Financial Times - Nov 14

Tue Nov 13, 2012 6:38pm EST

Financial Times

Headlines

GOVERNMENT READY TO DELAY WELFARE REFORM -

STANCHART TRIES TO KICK START SHARE PRICE -

FRESH SCANDAL ROCKS PENTAGON -

GREECE WINS TIME ON BAILOUT IMPASSE -

VODAFONE IN 6 BLN POUNDS EUROPE WRITEDOWN -

BP PAYS RUSSIAN $325 MLN TO DROP LAWSUITS -

GOLDMAN WARNING OVER CUTS -

CUBAN DIABETES DRUG SET FOR EUROPE TESTS -

CARLYLE FINDS CASHEW GROUP TO ITS TASTE -

Overview

GOVERNMENT READY TO DELAY WELFARE REFORM

Britain's government is prepared to delay its welfare reform amid fears the changes may need to be more thoroughly tested before being extended to all benefit claimants.

STANCHART TRIES TO KICK START SHARE PRICE

Standard Chartered this week flew 20 of its top shareholders to Beijing for a three-day immersion into the operations in China.

FRESH SCANDAL ROCKS PENTAGON

The US national security establishment was rocked by further scandal on Tuesday when the Pentagon said its top Afghanistan commander was under investigation.

GREECE WINS TIME ON BAILOUT IMPASSE

International lenders were granted more time to resolve their differences over changes to Greece's 174 billion euros bailout when Athens managed to raise sufficient funds.

VODAFONE IN 6 BLN POUNDS EUROPE WRITEDOWN

Vodafone has been forced to write down almost 6 billion pounds from its operations in economically ravaged countries in southern Europe.

BP PAYS RUSSIAN $325 MLN TO DROP LAWSUITS

BP has paid its Russian oligarch partners $325 million to drop all outstanding litigation against it.

GOLDMAN WARNING OVER CUTS

The financial industry should not go "overboard" in cutting costs in reaction to current market conditions, the chief executive of Goldman Sachs has warned.

CUBAN DIABETES DRUG SET FOR EUROPE TESTS

A revolutionary medicine for diabetes developed by Cuban scientists is set to be tested in late-stage clinical trials in Europe next year.

CARLYLE FINDS CASHEW GROUP TO ITS TASTE

Carlyle is to lead a $210 million private equity investment in an African agricultural commodity merchant that is one of the world's largest traders of cashew nuts.

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