PRESS DIGEST - Financial Times - July 16

July 16 Mon Jul 15, 2013 7:41pm EDT

July 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

China steps up GSK bribery probe

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Bonuses shrink for banks' top earners

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RWE npower says green policies will mean higher energy bills

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Fresh criminal action in Libor probe

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Commerzbank seals 4 bln stg Eurohypo UK deal

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Rajoy dismisses calls to step down

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Overview

Chinese authorities accused drugmaker GlaxoSmithKline of being the ringleader at the center of a half-a-billion-dollar bribery scandal that involved 700 companies.

A report by Europe's banking regulator reveals that the UK is home to more top-earning bankers than all other EU members put together.

RWE npower has publicly warned that the government's green policies will mean higher energy costs for consumers, saying bills would rise by more than 19 percent by the end of the decade.

Two former brokers who worked for RP Martin were charged by Britain's Serious Fraud Office for allegedly attempting to manipulate the yen-Libor rate.

Commerzbank said it had agreed to sell the UK operations of its property lending arm to Wells Fargo and private equity company Lone Star in a 4 billion pound ($6.04 billion) deal.

Spain's Prime Minister Mariano Rajoy rejected calls for him to step down over a slush fund scandal that has hit his party and warned of the risks of plunging Spain into "political instability."

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