PRESS DIGEST - Financial Times - March 27

March 27 Tue Mar 26, 2013 8:36pm EDT

March 27 (Reuters) - Headlines

Capital rules relaxed for new UK banks ()

US crackdown on Citi laundering flaws ()

Buffett to join Goldman top 10 investors ()

Deutsche sets aside 500m to cover Libor () Kingfisher suffers from cold snap ()

T-Mobile USA drops yearly phone contracts ()

Overview

Start-up banks in Britain will not need as much capital as their established rivals starting from April, Britain's Financial Services Authority (FSA) said.

The Federal Reserve has ordered Citigroup Inc to better police for the risk of money laundering.

Warren Buffett agreed to become Goldman Sachs Group Inc's biggest shareholders by converting his warrants into shares.

Deutsche Bank has provisioned for 500 million euros to cover possible fines for the alleged manipulation of Libor interest rates.

Britain's Kingfisher Plc reported sharply lower profits as cash-strapped consumers cut back on home improvements in the economic downturn. T-Mobile USA will eliminate device subsidies and two-year service contracts that are favoured in the mobile industry to sell expensive handsets.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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