PRESS DIGEST - Financial Times - Dec 18

Mon Dec 17, 2012 9:10pm EST

Financial Times

Headlines

OUTLINE OF US FISCAL DEAL EMERGES -

DOZENS TO BE IMPLICATED IN UBS LIBOR DEAL -

G4S SET FOR WELFARE REFORM ROLE -

TESCO EDGES CLOSER TO NAMING UK CHIEF -

BAUGUR CHIEF INDICTED IN ICELAND -

QUESTIONS HANG OVER APPLE'S LONG-TERM GROWTH -

MORGAN STANLEY FINED OVER FACEBOOK IPO -

SLIM SUFFERS 2 BLN EUROS PAPER LOSS ON EU FORAY -

Overview

OUTLINE OF US FISCAL DEAL EMERGES

A deal to avert the U.S. fiscal cliff is at last emerging, with at least $1 trillion in new taxes, up to $1 trillion in fresh spending cuts and an increase in America's debt ceiling.

DOZENS TO BE IMPLICATED IN UBS LIBOR DEAL

About three dozen bankers and senior managers will be implicated in the alleged rigging of Libor interest rates when UBS settles with global regulators later this week.

G4S SET FOR WELFARE REFORM ROLE

G4S is set to win a role in implementing the government's contentious and complex changes to child benefit and the universal credit.

TESCO EDGES CLOSER TO NAMING UK CHIEF

Tesco is moving closer to appointing a UK chief executive, with Chris Bush, chief operating officer, emerging as the front-runner for the role.

BAUGUR CHIEF INDICTED IN ICELAND

The most prominent of Iceland's one-time corporate raiders has been indicted in the latest attempt to uncover alleged wrongdoing from its dramatic financial crisis.

QUESTIONS HANG OVER APPLE'S LONG-TERM GROWTH

Wall Street's debate over how to value Apple has intensified with the iPhone maker's stock skirting around the $500 mark on Monday.

MORGAN STANLEY FINED OVER FACEBOOK IPO

Morgan Stanley <MS.N > was fined $5 million by the Massachusetts securities regulator who said the company's investment bankers had "improper influence" on analysts.

SLIM SUFFERS 2 BLN EUROS PAPER LOSS ON EU FORAY

Carlos Slim, the world's richest man, has overseen a loss of close to 2 billion euros ($2.63 billion) on his foray this year into the European market.