PRESS DIGEST - Financial Times - Feb 25
Feb 25 (Reuters) - Headlines: Osborne feels heat over rating blow Currency battle looms for Scotland Clegg drawn into sex abuse dispute Italy goes to the polls in close election RBS plans partial float of U.S. unit 'Captain Magic' conjures up hedge launch Direct Line listing advisers to get bonus Mobile operators challenge Google and Apple UK to benefit from North Sea investment Phones play support role in Barcelona Siemens accelerates Nokia joint venture exit Overview George Osborne is under pressure from both sides of the coalition to change the government's economic plans after the loss of the UK's triple-A credit rating. An independent Scotland will be able to keep the pound, the UK government will argue next month - but only if Scottish ministers accept budget constraints set by London. Nick Clegg has been drawn into allegations of sexual harassment in the Liberal Democrat party after admitting that his office was told in 2008 of concerns about their former election chief. Italians began voting in parliamentary elections on Sunday in a return to direct democracy after 15 months of austerity under Mario Monti's appointed technocratic government. Royal Bank of Scotland is set to announce a plan to float part of its U.S. business as the lender looks for ways to raise capital and restructure ahead of eventual reprivatisation. Rafael Costa, a former GLG partner, will this week unveil the first fund at his new firm Tyndaris. Royal Bank of Scotland will make an additional multimillion-pound payment to investment banks that handled the listing of Direct Line. Eighteen of the world's largest mobile operators have backed a new mobile operating system from Mozilla Firefox. Britain is set to benefit from a surge of investment of up to 100 billion pounds ($153 billion) in the development of North Sea oil and gas assets. Several alternative mobile operating systems will for the first time take centre stage at the Mobile World Congress in Barcelona this week, a trade show where the attention is normally on the latest phone. Siemens will speed up efforts to exit or cut its stake in its telecom equipment joint venture with Nokia .
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