PRESS DIGEST - Financial Times - Dec 14
UBS LIBOR FINE COULD TOP $1 BLN -
DRAGHI'S RALLYING CRY FOR NEW EU POWERS -
S&P DOWNGRADES OUTLOOK ON UK TRIPLE-A RATING -
FED BEGINS STRESS TESTS ON BANK LIQUIDITY -
COUNTER-TERRORISM TOOLS USED TO SPOT STAFF FRAUD -
MAN GROUP FACES HEAVY GLG WRITE-OFF -
RYANAIR LOSES APPEAL OVER AER LINGUS PROBE -
OSBORNE OPEN TO DROPPING INFLATION TARGET -
UBS LIBOR FINE COULD TOP $1 BLN
The fine UBS will pay to settle claims it manipulated Libor, a key benchmark interest rate, could top $1 billion.
DRAGHI'S RALLYING CRY FOR NEW EU POWERS
The EU needs fresh powers to wind up failing banks in a speedy push to the next phase of banking union, according to Mario Draghi, president of the European Central Bank.
S&P DOWNGRADES OUTLOOK ON UK TRIPLE-A RATING
Standard & Poor's has become the last big credit ratings agency to give the UK government a bloody nose by downgrading the outlook on Britain's triple A rating to negative.
FED BEGINS STRESS TESTS ON BANK LIQUIDITY
The U.S. Federal Reserve is carrying out its first ever system-wide stress test of bank liquidity in a move that could force banks to change their funding sources.
COUNTER-TERRORISM TOOLS USED TO SPOT STAFF FRAUD
JPMorgan Chase has turned to technology used for countering terrorism to spot fraud risk among its own employees and to tackle various problems.
MAN GROUP FACES HEAVY GLG WRITE-OFF
Man Group is weighing up significant accounting write-offs next year relating to its 2010 acquisition of GLG Partners, a move that will raise eyebrows.
RYANAIR LOSES APPEAL OVER AER LINGUS PROBE
A UK probe into Ryanair's shareholding in Aer Lingus has been given the go-ahead after the low-cost airline lost an appeal that the inquiry undermined a separate EC probe.
OSBORNE OPEN TO DROPPING INFLATION TARGET
George Osborne has signalled that he is considering scrapping Britain's 2 percent inflation target in favour of a more growth-focused goal.