PRESS DIGEST - Financial Times - Nov 20

Mon Nov 19, 2012 9:36pm EST

Financial Times

Headlines

INTEL CHIEF OTELLINI TO RETIRE IN MAY -

TERRA FIRMA ADVANCE ON MOD LANDLORD -

CAMERON TARGETS CULL OF EU CIVIL SERVANTS -

OSBORNE CASTS EYES ON PENSIONS OF RICH -

JP MORGAN REPLACES CHIEF FINANCIAL OFFICER -

MOODY'S DOWNGRADES FRANCE FROM TRIPLE A -

US BANKS IN RUSH TO PLUG CAPITAL SHORTFALL -

HSBC IN TALKS OVER SALE OF PING AN STAKE -

Overview

INTEL CHIEF OTELLINI TO RETIRE IN MAY

Paul Otellini is stepping down from the top job at Intel , leaving no clear successor in place for the first time at the world's biggest chipmaker.

TERRA FIRMA ADVANCE ON MOD LANDLORD

Buyout group Terra Firma agreed to buy Annington Homes from Nomura in a deal worth 3.2 billion pounds.

CAMERON TARGETS CULL OF EU CIVIL SERVANTS

The EU's much-maligned civil servants are facing a cull and renewed pay restraint as the price of possible British support for an agreement on the bloc's long-term budget.

OSBORNE CASTS EYES ON PENSIONS OF RICH

George Osborne is considering a new tax raid on the pension contributions of richer voters, after rejecting the idea of a "wealth tax."

JP MORGAN REPLACES CHIEF FINANCIAL OFFICER

JPMorgan Chase & Co on Monday named Marianne Lake, financial chief of its retail banking unit, as chief financial officer of the company.

MOODY'S DOWNGRADES FRANCE FROM TRIPLE A

France suffered the second downgrade of its sovereign debt rating this year when Moody's, the U.S. rating agency, removed its triple A ranking on Monday night.

US BANKS IN RUSH TO PLUG CAPITAL SHORTFALL

U.S. banks are racing to fill a little-noticed capital shortfall by issuing billions of dollars of preferred shares.

HSBC IN TALKS OVER SALE OF PING AN STAKE

HSBC is weighing a sale of its $9.5 billion stake in Ping An Insurance, as the bank withdraws from non-core businesses amid a global drive to improve profitability.

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