PRESS DIGEST - Financial Times - May 16

Wed May 15, 2013 8:35pm EDT

May 16 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Google steals music march on Apple

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Bank shows signs of optimism with Sir Mervyn's final forecasts

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RP Martin suspends chief amid Libor probe

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JPMorgan demands Bloomberg staff logs

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HSBC signals plan for Europe's first bank share buyback

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Cameron hints at move to get RBS in good health for sale

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Overview

Google Inc has launched a subscription-based streaming music service on Wednesday ahead of rival Apple Inc , which pioneered online music purchases with iTunes but is yet to adopt the fast-growing newer business model.

In the last set of quarterly forecasts before Governor Mervyn King retires, the Bank of England predicted that Britain's economic growth would be faster and inflation lower than it expected three months earlier.

RP Martin, the British interdealer broker that became involved in the Libor fixing investigation when two of its employees were arrested in December, suspended David Caplin, its chief executive, and Alan Farnan, an executive director, on Wednesday.

Lawyers for JPMorgan Chase & Co, one of the biggest customers of Bloomberg LP, have demanded details of which Bloomberg employees accessed data on the use of the bank's financial terminals.

HSBC Holdings Plc said it would cut between 4,000 and 14,000 jobs as it intensified its cost-cutting efforts and became the first big bank in Europe to hint at a likely share buyback.

Britain's Prime Minister David Cameron on Wednesday said he wanted Royal Bank of Scotland Group back in a state of "good health" and ready for sale "as fast as possible", signalling a possible return of the state-controlled bank to private ownership before the next election.

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

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