PRESS DIGEST - Financial Times - May 10

Thu May 9, 2013 8:31pm EDT

May 10 (Reuters) - Headlines

Annan report blasts ENRC for costing Congo $725 mln

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UK watchdog probes KPMG in fresh blow

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David Cameron seeks to reassure investors over EU exit

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MPs back case for third runway at Heathrow airport

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RBS chief focuses on escape from state's clutches

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Overview

A report by Kofi Annan's Africa Progress Panel to be published on Friday criticises mining deals made by Eurasian Natural Resources Corp for "opaque concession trading" costing the Democratic Republic of Congo $750 million.

The Financial Reporting Council, the UK's accounting watchdog, has launched two separate investigations into auditing firm KPMG - one relating to its audit of car dealer Pendragon and the other probing into a KPMG member's shareholding in a client company.

British Prime Minister David Cameron took on critics in his party who demand Britain's immediate exit from the European Union, reassuring international investors that the country's future lay within the EU.

An influential committee of MPs recommended a third or possibly even a fourth runway at London's Heathrow airport on Friday, boosting its controversial efforts to expand.

Chief Executive Stephen Hester is convinced that Royal Bank of Scotland is entering its last phase of repair ahead of reprivatisation, even after its poor first-quarter results last week.

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