PRESS DIGEST - Financial Times - June 27

June 27 Wed Jun 26, 2013 7:43pm EDT

June 27 (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

Cost of HS2 undercuts spending review

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Walmart suffers setback in India with executive's departure

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BA launches first hybrid bond

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Repsol rejects Argentina settlement over seizure of YPF

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'King of oil' who became target for US

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BP accused of intimidating spill claimants

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Overview

Finance Minister George Osborne's pledge of pumping in billions to overhaul Britain's infrastructure was undercut on Wednesday after the budget for the high-speed rail line project jumped by 8 billion pounds.

Wal-Mart Stores Inc, grappling with allegations of wrongdoing and investment restrictions in the promising but restrictive India market, said on Wednesday its country head, Raj Jain, had left the company.

British Airways launched a $927 million asset-backed bond on Wednesday, the first from a UK airline using new planes as collateral, to finance the purchase of 14 new aircraft, including six Boeing Dreamliners.

The board of Spanish oil major Repsol said it unanimously rejected a non-cash compensation offer worth $5 billion from Argentina over the expropriation of its majority stake in energy firm YPF, raising prospects worsening relations between its management and some of its biggest investors.

Billionaire Marc Rich, who founded international commodities conglomerate Glencore and was pardoned by President Bill Clinton over tax evasion, racketeering and busting sanctions with Iran, died on Wednesday in Switzerland aged 78.

BP has been accused of using "hollow intimidation tactics" by lawyers representing claimants seeking compensation for the 2010 Deepwater Horizon disaster.