PRESS DIGEST - Financial Times - Dec 20

Financial Times

Headlines

UBS PAYS PRICE FOR 'EPIC' SCANDAL -

GREECE FACES 'MAKE OR BREAK' YEAR -

APAX CALLS TIME ON DRIVE FOR 9 BLN EURO FUND -

EX-PORSCHE BOSSES CHARGED OVER VW BID -

GM BUYS BACK $5.5 BLN IN TREASURY SHARES -

BOE GOVERNOR TO GET 250,000 POUNDS FOR HOUSING -

BBC WAS IN 'CHAOS' OVER SAVILE SCANDAL -

GETCO ACQUIRES KNIGHT FOR $1.8 BLN -

Overview

UBS PAYS PRICE FOR 'EPIC' SCANDAL

UBS agreed to pay a record $1.5 billion to U.S., UK and Swiss regulators to settle allegations of "pervasive" and "epic" efforts to manipulate interbank lending rates.

GREECE FACES 'MAKE OR BREAK' YEAR

Next year will be "a make or break" year for Greece's future as a member of the euro zone, Yannis Stournaras, the country's finance minister, has said.

APAX CALLS TIME ON DRIVE FOR 9 BLN EURO FUND

The intensifying struggle by private equity groups to raise funds has spurred plans by Apax Partners to call time on its current fund marketing push.

EX-PORSCHE BOSSES CHARGED OVER VW BID

Two former Porsche executives have been charged with market manipulation after a lengthy investigation into an attempt to take over the much larger Volkswagen.

GM BUYS BACK $5.5 BLN IN TREASURY SHARES

General Motors revealed on Wednesday it would pay $5.5 billion to buy back 40 percent of the Treasury stake in the carmaker.

BOE GOVERNOR TO GET 250,000 POUNDS FOR HOUSING

Mark Carney, the incoming governor of the Bank of England will get a housing allowance that dwarfs the salary of the prime minister.

BBC WAS IN 'CHAOS' OVER SAVILE SCANDAL

The BBC lost its deputy director of news, and several senior editorial staff changed jobs, on Wednesday after management was criticised over an investigation into Jimmy Savile.

GETCO ACQUIRES KNIGHT FOR $1.8 BLN

Getco has acquired Knight Capital in a $1.8 billion deal that could see the creation of one of the largest U.S. electronic trading and market-making companies.