PRESS DIGEST - Financial Times - Nov 30

Financial Times

Headlines

PM FAILS TO BACK LEVESON ON UK PRESS LAW -

UK BANKS FACE UP TO 50 BLN POUNDS SHORTFALL -

MICROSOFT EYES YEARLY WINDOWS UPDATES -

CCB ISSUES 'DIM-SUM' BONDS IN LONDON -

GOLD FIELDS TO SPIN OFF TWO MATURE MINES -

TCHENGUIZ NEARS MOTORWAY SERVICES SALE -

M STANLEY AIMS TO BOOST INVESTOR RETURNS -

PM REJECTS CLIMATE EXPERT FOR TOP JOB -

VIRGIN WINS CONTRACT TO PROVIDE FREE WIFI -

Overview

PM FAILS TO BACK LEVESON ON UK PRESS LAW

David Cameron rejected the idea of a law to regulate the British press on Thursday, risking a split in his coalition after an inquiry proposed a watchdog with legal backing.

UK BANKS FACE UP TO 50 BLN POUNDS SHORTFALL

UK banks will have to raise up to 50 billion pounds of new capital after the BoE made it clear it did not trust the way they value their books.

MICROSOFT EYES YEARLY WINDOWS UPDATES

Microsoft is planning to mirror arch-rival Apple by releasing a new version of its Windows operating system every year.

CCB ISSUES 'DIM-SUM' BONDS IN LONDON

China Construction Bank has become the first Chinese bank to issue a renminbi-denominated bond in London.

GOLD FIELDS TO SPIN OFF TWO MATURE MINES

Gold Fields said on Thursday it planned to spin off two of its biggest South African assets into a new company as it restructures its business.

TCHENGUIZ NEARS MOTORWAY SERVICES SALE

Robert Tchenguiz, the property tycoon, is close to selling 300 million pounds worth of service stations as he continues to dismantle his empire.

M STANLEY AIMS TO BOOST INVESTOR RETURNS

Morgan Stanley's chief executive wants to use the bank's excess capital to boost returns for the company's "long suffering" shareholders.

PM REJECTS CLIMATE EXPERT FOR TOP JOB

David Cameron has overruled the head of the civil service and quashed the appointment of climate change expert David Kennedy to lead the energy department.

VIRGIN WINS CONTRACT TO PROVIDE FREE WIFI

Virgin Media Business has won the UK's first contract to provide citywide wireless outside London.