PRESS DIGEST - Financial Times - Jan 14

LONDON Sun Jan 13, 2013 8:28pm EST

LONDON Jan 14 (Reuters) - Headlines

EU REDRAFTS PLAN FOR BANK RESCUE FUNDING

EU TO FOSTER UNIFIED TELECOMS MARKET

GOLDMAN EYES TAX DELAY ON UK BONUSES

IBERDROLA RETHINK ON SCOTTISH POWER SALE

INSURERS' CONTINGENT COMMISSIONS ATTACKED

Overview

Countries seeking aid from the euro zone's bank rescue fund, the European Stability Mechanism, will still need to shoulder a large part of the cost of future bailouts themselves, according to a draft proposal.

The European Union will set out reforms this year to support a pan-European telecoms market, said commission vice-president Neelie Kroes in an interview.

Investment bank Goldman Sachs is planning to delay UK bonus payouts until after April, when the top rate of income tax falls to 45 percent.

Spanish utility Iberdrola has scrapped plans to sell its stake in Britain's Scottish Power after recent asset sales went better than expected.

Joe Plumeri, the outgoing head of insurance broker Willis, criticised 'contingent commissions', the practice of insurance brokers receiving payments from underwriters.

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