PRESS DIGEST - Financial Times - March 1

March 1 Thu Feb 28, 2013 7:56pm EST

March 1 (Reuters) - Headlines

U.S. braced as cuts deadline looms

Groupon sacks Mason as chief executive

RBS moves closer to privatisation

Lloyds to take 'final' 1.4 bln stg PPI provision

Van Rompuy hits at Cameron on treaty change

Banks fear damage from EU bonus cap

Icahn and Herbalife move against Ackman

Overview

The United States is braced for automatic across-the-board spending cuts which are set to kick in on Friday under a process known as sequestration.

Groupon co-founder Andrew Mason was fired as chief executive of the daily deals company on Thursday.

RBS Chief Executive Stephen Hester on Thursday signalled that the British bank could be ready for reprivatisation as early as next year.

Lloyds Banking Group will set aside an additional 1.4 billion pounds to cover the mis-selling of payment protection insurance.

European Council president Herman Van Rompuy said Europe would not prioritise treaty change despite British Prime Minister David Cameron's desire for a new settlement to put to a referendum.

Executives at European banks have warned that they are in danger of losing key traders and managers to U.S. and other international rivals after the EU provisionally agreed to a bonus cap for banks.

Carl Icahn and Herbalife have reached an agreement to nominate two directors to the company's board.

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